Prada SpA (FRA:PRP)

Half Year 2026 Prada SpA Earnings Call Transcript

Jul 30, 2026 / 12:30 PM GMT

Release Date Price: €4.19 (-0.83%)

Transcript

Key Points

Positve

Group organic revenue growth of 5% in H1 2026, with Q2 accelerating to 7%, marking the 22nd consecutive quarter of organic growth.
Prada brand saw solid growth with acceleration in Q2, driven by full-price sales and broad-based regional strength, particularly in the Americas, Japan, and APAC.
Miu Miu maintained high desirability and normalized growth at +3% on a very strong +49% comp from H1 2025, with a new leather goods collection expected to support momentum.
Versace performed in line with expectations, with new Creative Director Peter Muliar on board and a clear strategic plan for gradual improvement.
Strong balance sheet with net cash position of €693 million, improved net cash flow year-on-year, and disciplined working capital management.

Negative

EBIT adjusted margin diluted to 17.4% due to Versace integration costs and negative FX impact, with two-thirds of the dilution from Versace.
Miu Miu growth was impacted by the Middle East conflict, which reduced its Q2 performance by approximately 300 basis points.
Versace remains a drag on profitability, with an expected EBIT loss in the double-digit millions for the full year.
The Middle East region continued to weigh on group retail performance, with a negative impact of about 1.5 percentage points in H1.
Management noted a soft patch in late June and early July, and described the trading environment as 'complicated' and 'less readable,' particularly in China.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

1913.HK - Prada SpA
Half Year 2026 Prada SpA Earnings Call
Jul 30, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by.

Welcome to the Prada Group 2026 of your sals conference call and webcast at this time, all participants are in listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, please press 11 on your telephone, you will then hear an automated message advising your hand is raised to withdraw your question, please press 11 again, please be aware that they can answer one question at a time before.

Moving to the next question, and please also note that today's conference is being recorded.

I would now like to the conference over to Miss Andrea Bonini, Group CFO.

Please go ahead, sir.

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