Prada Net Profit For The First Time After Listing

Group sales amounted to 3 billion 552 million euros, down 1% compared to the same period last year, down 1.1% from the fixed exchange rate, and the sales growth in Japan, the Americas and the Middle East was offset by the decline in the Greater China region and the European market. The retail sales volume was 2 billion 981 million euros, down 5% from the same period last year, down 0.4% from the fixed exchange rate, and the profit margin before depreciation and amortization (EBITDA) was 954 million 200 thousand euros, representing a decrease of 5 percentage points in sales 26.9%- compared with the previous fiscal year; net profit of 450 million 700 thousand euro, a year-on-year fall of 28%, and lower than that of the euro which was generally predicted by analysts.

The net interest rate is only 12.7%. As of January 31, 2015, the group had net assets of 188 million 800 thousand euros, and its operating cash flow for the whole year was 483 million 600 thousand euros.

The Asia Pacific region (excluding Japan) accounts for 35.7% of the group's total sales.

According to the constant exchange rate, sales in the Asia Pacific region decreased by 4.5% compared with the same period last year.

Fell nearly 7% compared with the same period last year.

On the one hand, the anti-corruption campaign led to the overall downturn of the luxury industry in mainland China, and at the same time led to fewer and fewer Chinese rich people travel to the developed gambling industry in Macao.

On the other hand, the 79 Day campaign led to a significant reduction in the number of visitors to Hong Kong.

More and more Chinese tourists are turning their destinations from Hongkong to Japan and South Korea, especially South Korea's wholesale channel sales.

On the other hand, Prada adjusted the Japanese market's direct store network, closed three Prada stores and opened a new MiuMiu store. After adjusting, the Japanese market sales increased by 13.4% year-on-year.

Prada makes adjustments to the distribution channel network.

In North America and Switzerland, Prada has absorbed some franchised stores into direct stores and closed 10 stores.

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In the 2015 fiscal year, Prada opened 64 new outlets. As of January 31, 2015, Prada had 594 outlets.

According to the constant exchange rate, retail channel sales performance is not as good as 2014 fiscal year, Asian market and leather products are more influential.

In the 2015 fiscal year, gross margin was 2 billion 551 million euros and gross margin was 71.8%, down 2 percentage points over the 2014 fiscal year.

On the one hand, the group adjusted the product mix, on the other hand, because of the depreciation of the euro, the exchange rate movements had adverse effects on the group.

First of all, the group's expansion of the retail network led to a significant increase in investment, while the group's sales revenue did not rise or fall. Secondly, the group focused on improving brand awareness, strengthening relations with consumers and maintaining sales costs. In addition, the "Pradasphere" exhibition held in London and Hongkong cost a lot of money.

Increased liabilities and foreign exchange losses result in increased financial costs.

Prada brand EBITDA fell 12.5% in fiscal year 2015, accounting for 31.5% of sales, which fell 4 percentage points compared with the 2014 fiscal year.

The worst performing brand, EBITDA fell 60.7%, accounting for 6.6% of sales, a 10.5 percentage point drop compared with the 2014 fiscal year.

The weakness of CarShoe brand wholesale channel led to a decline in EBITDA.

Church is the only brand to achieve EBITDA growth.

In the early 2015, the stimulus response of the capital market to monetary policy was positive, and the expected growth of the real economy was enhanced.

However, there are still unavoidable problems in some markets. Exchange rate volatility is still strong, which makes the international luxury market full of uncertainty.