Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Prada S.p.A.    1913   IT0003874101

PRADA S.P.A.

(1913)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Italy's Armani sees first signs of recovery after 2018 sales fall

07/26/2019 | 01:37am EST
A company logo is pictured outside a Giorgio Armani store in Vienna

MILAN (Reuters) - Sales at Italian fashion group Giorgio Armani fell for the third year in a row in 2018, although the company said that its restructuring strategy had begun to pay off this year.

The group had already warned last year that it only expected a return to growth from 2020 onwards, largely as a result of an internal reorganisation aimed at streamlining its shop network and its brand portfolio under three labels.

In 2018, revenue fell by 8% at constant exchange rates (-10% at current rates) to 2.1 billion euros (£1.9 billion), while earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased to 314 million euros from 438 million posted in 2017, the company said on Friday.

"I am confident in the strategic direction we've taken being the most appropriate to consolidate the leading position of the Armani Group and its brands in the luxury/lifestyle segment," said Giorgio Armani, who has just turned 85 and still holds the positions of chairman, CEO and general manager.

The positive signals relating to sales of the 2019 spring/summer season in the first part of the year confirmed the label, founded 44 years ago and Italy's second biggest after Prada, was heading in the right direction, he said.

The group has strong liquidity of 1.3 billion euros at the end of last year, up 300 million euros from a year earlier. Armani said this allowed the group, which has no debt, to remain independent and increase future investments based on its own coffers.

In 2018, investments rose by 28% to 106 million euros.

Overall brand revenues, including those from licensing, stood at 3.8 billion euros, in line with 2017 when stripping out currency moves.

Though he has set up a foundation in his name and indicated that part of his high-end fashion empire should be transferred into the charitable organisation, the designer has still not named his successor for when he steps down.

The group announced on Friday the appointment of two deputy general managers, one responsible for markets and commercial activities, and the other in charge of finance and operations.

(Editing by Silvia Aloisi and Gopakumar Warrier)

By Claudia Cristoferi


© Reuters 2019
All news about PRADA S.P.A.
01/06PRADA S P A : Second Half 2020 Retail Sales Rebound Due to Strong Demand in Chin..
MT
01/05PRADA S P A : to post 2020 operating profit after strong second-half rebound in ..
RE
2020PRADA S P A : Sells Milan Property for $49 Million; Shares Jump 8%
MT
2020Global luxury goods sales set for largest ever fall in Bain forecast
RE
2020Luxury group Chanel increases prices for second time this year
RE
2020PRADA S P A : appoints diversity chief in bid to become more inclusive
RE
2020Luxury brands bank on a raring China market as pandemic lays waste to global ..
RE
2020China's slow consumption recovery upset by wary low-income households
RE
2020PRADA S P A : Interim Financial Report 2020
PU
2020PRADA S P A : says China sales to date well above 2019 levels
RE
More news
Financials
Sales 2020 2 499 M 3 041 M 3 041 M
Net income 2020 -44,7 M -54,3 M -54,3 M
Net Debt 2020 668 M 813 M 813 M
P/E ratio 2020 -315x
Yield 2020 0,11%
Capitalization 13 099 M 15 942 M 15 940 M
EV / Sales 2020 5,51x
EV / Sales 2021 4,41x
Nbr of Employees 13 669
Free-Float 20,0%
Chart PRADA S.P.A.
Duration : Period :
Prada S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PRADA S.P.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 4,15 €
Last Close Price 5,12 €
Spread / Highest target 10,9%
Spread / Average Target -19,0%
Spread / Lowest Target -49,9%
EPS Revisions
Managers and Directors
NameTitle
Patrizio Bertelli Co-Chief Executive Officer & Executive Director
Miuccia Prada Bianchi Co-Chief Executive Officer & Executive Director
Carlo Mazzi Chairman
David Terracina Chairman-Supervisory Board
Alessandra Cozzani Chief Financial Officer & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PRADA S.P.A.-5.66%15 942
INDUSTRIA DE DISEÑO TEXTIL, S.A.-1.73%97 031
FAST RETAILING CO., LTD.-0.70%90 331
KERING SA-8.48%82 702
ROSS STORES, INC.-6.04%40 398
HENNES & MAURITZ AB6.19%36 464