PRADA(US:PRDSY)2023-03-09 16:56Financial Highlights - The Group's net revenues reached €4201 million, a 21% increase compared to FY-21 and a 32% increase compared to FY-19[18] - Retail sales amounted to €3737 million, reflecting a 24% increase compared to FY-21 at constant exchange rates[4] - The adjusted EBIT margin was 201%, equivalent to €845 million[4, 18] - The group achieved a net cash position of €535 million[4] - Gross margin improved to 788%, amounting to €33 billion[4] Brand Performance - Prada retail sales increased by 25% compared to FY-21, driven by brand momentum and client engagement[27] - Miu Miu retail sales grew by 20% compared to FY-21, with acceleration in the second half of the year[27] Channel and Geographic Performance - Retail channel experienced a 24% growth compared to FY-21, driven by like-for-like and full-price sales[20] - Europe showed outstanding performance with a 63% increase in retail sales compared to FY-21, while Asia Pacific retail sales decreased by 2%[23] Strategic Investments - The company accelerated investments in retail, IT, and industrial infrastructure, with approximately 80% of retail capital expenditure allocated to renovation and relocation projects[32, 33]