Core Viewpoint - Haidong International's report indicates a cautious outlook for Prada's net profit growth from 2025 to 2027, with revised profit forecasts reflecting a slower recovery in the industry compared to previous expectations [1] Financial Performance - In Q3 2025, Prada's revenue reached €1.33 billion, marking a 9% year-on-year increase, with fixed exchange rates applied [2] - By brand, Prada's revenue decreased by 1% year-on-year, while Miu Miu's revenue surged by 29%, following a high base of 105% growth in the same period last year [2] - Regional performance showed varied results, with North America leading growth at 20%, while Japan experienced a slight decline of 1% [2] Future Outlook - The company remains optimistic about Miu Miu's growth potential, driven by high-quality brand growth and significant store expansion opportunities [3] - Prada is expected to enhance its product offerings through increased creative investment in leather goods and marketing of iconic products, aiming to broaden its consumer base [3]

Core Viewpoint - The report from Haitong International indicates a cautious outlook for Prada (01913) with revised net profit forecasts for 2025-2027, reflecting a moderate growth trajectory amid industry recovery challenges [1] Financial Performance - For Q3 2025, Prada reported revenue of €1.33 billion, a year-on-year increase of 9% (fixed exchange rate) [2] - By brand, Prada's revenue decreased by 1% year-on-year, while Miu Miu's revenue grew by 29%, following a high base of 105% growth in the same period last year [2] - Regional performance showed year-on-year revenue changes: Asia-Pacific +10%, Europe +2%, North America +20%, Japan -1%, Middle East +10%, with North America leading growth despite a high base [2] Future Outlook - The company remains optimistic about Miu Miu's growth potential, driven by high-quality brand growth and significant store expansion opportunities [3] - As of the end of 2024, Miu Miu is expected to have 147 direct stores globally, compared to over 300 for YSL and BV, indicating room for growth [3] - Prada plans to enhance its product offerings through increased creative investment in leather goods and marketing of iconic products, aiming to broaden consumer reach [3]

9M-25 Revenue Milan, October 23rd 2025 0 October 23rd 2025 Disclaimer The information contained in this document is for information purposes only and does not constitute an offer, solicitation, invitation or recommendation to subscribe for or purchase any securities, or other products or to provide any investment advice or service of any kind. This document is not directed at, and is not intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution or us ...