Sales of the fashion company fell by 24 percent. Net loss of 54 million euros.
The corona crisis is affecting the results of the Italian fashion company Prada in the pandemic year 2020. The Milan-based group closed the past year with a sales decline of 24 percent to 2.42 billion euros, as Prada reported on Wednesday.
The operating result (EBIT) was 20 million euros, compared to 235 million euros in the previous year. The loss was 54 million euros.
The group's debt was EUR 311 million; at the end of 2019 it had been EUR 406 million. The Milan-based company, which is listed on the Hong Kong stock exchange, announced the distribution of a dividend of EUR 0.035 per share for a total of EUR 90 million.
confidence
“In this dramatic year, thanks to the commitment and sense of responsibility of our employees, we achieved our corporate goals. We responded flexibly to changes in the market and strengthened relationships with local clients,” said Prada's managing director Patrizio Bertelli.
In an uncertain market environment, Prada is in a position to look to the rest of 2021 with confidence.
