The accounts of two of the giants of Italian fashion arrive. The Prada group closed the six months ended July 31 with revenues down by 14,8% from 1,82 billion in the same period of the previous year to 1,54 today. Ebitda fell by 25% to 329,9 million euros, while Ebit fell by 27,1% to 213,7 million euros.
The group's net profit also fell sharply, settling at 141,9 million against 188,6 in the reference period and thus resulting in a drop of -24,7%.
Despite the negative accounts for the six months ending in July 2016, Prada expects a turnaround this year.
According to what can be read in the note issued by the group, the company has begun a phase of profound transformation which will allow it to respond rapidly to the challenges and opportunities of an evolving market. "The management sees 2016 as a turning point from which the group will return to growth by focusing on the value that has made the Prada company iconic: quality, innovation and the ability to follow trends and interpret them".
Several accounts of Cucinelli who in the first half of the current year recorded positive results in all financial indicators. In the first six months of the current year, revenues amounted to 219,8 million euros, an increase of 9,7% compared to the same period of 2015.
Ebitda is also good, showing an increase of 10,2 to 36,8 million euros. Net profit has grown by 15,7% to 17,9 million euros.
In the first half of the year there was also a 10,4% growth in all international markets, with a 6,9% increase in sales on the Italian market.
The chairman and managing director, Brunello Cucinelli, commented with satisfaction on the accounts published yesterday evening: "We are sincerely very satisfied with the results achieved in this first half of the year, results which show a decisive and balanced growth in both turnover and profits . Having now reached two thirds of the year, we can calmly imagine a 2016 with good growth in revenues and profitability”.
