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中金:维持普拉达跑赢行业评级 下调纯利预测
Zhi Tong Cai Jing· 2025-10-27 08:51
Core Viewpoint - Prada's third-quarter revenue increased by 9% year-on-year at constant exchange rates, totaling €1.33 billion, slightly exceeding market expectations [1] Financial Performance - The company has adjusted its net profit forecast for the year down by 7.5% to €880 million due to adverse foreign exchange impacts and anticipated additional loans for the acquisition of Versace, which will raise financial costs [1] - Revenue and EBIT forecasts for the current year have been reduced by 6.1% and 6.9%, respectively, to €5.731 billion and €1.359 billion [1] - For the next year, revenue forecasts have been lowered by 9.6% to €6.155 billion, with EBIT and net profit forecasts adjusted down by 13.2% and 14.1%, respectively, to €1.492 billion and €976 million [1] Market Position - The company maintains an "outperform" rating and a target price of HKD 75 despite the competitive landscape becoming more intense [1]