PRADA S.p.A. — Earnings Release 2013

Feb 12, 2014

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PRADA S.p.A.

Via A. Fogazzaro n. 28, Milan, Italy
Registry of Companies of Milan, Italy: No. 10115350158
(Incorporated under the laws of Italy as a joint-stock company)
(Stock Code: 1913)

PRELIMINARY SALES FIGURES

OF FINANCIAL YEAR 2013

This announcement is made pursuant to Rule 13.09 of the Listing Rules and Section 307B(1) of the Securities and Futures Ordinance. PRADA S.p.A. provides its preliminary sales figures for the financial year ended January 31, 2014.

PRADA S.p.A. (the "Company" and, together with its subsidiaries, the "Group") is pleased to announce the preliminary sales figures of the Group for the financial year ended January 31, 2014. This announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Section 307B(1) of the Securities and Futures Ordinance.

The Group net revenues for the financial year ended January 31, 2014 amounted to Euro 3,586 million, a 9% increase as compared to the financial year 2012.

At constant exchange rates, the Group enjoyed sales growth of 13%.

The sales by directly operated stores (DOS) totaled Euro 2,996 million, a 12% increase compared to financial year 2012 and a 18% increase at constant exchange rates. New stores contributed towards this growth as did existing stores, with Same Store Sales Growth standing at 7%, which remained constant in all four quarters.

Wholesale channel sales decreased by 7% (6% decrease at constant exchange rates), as a result of the strategy adopted by the Group in recent years to streamline the wholesale network and, in Europe in particular, to be selective of independent retailers based on quality and reliability.

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All geographical areas contributed to the Group’s strong growth.

Asia Pacific achieved important progress in 2013 with growth of 11% (+14% at constant exchange rates). Greater China made a fundamental contribution to growth in this area, with sales for the year 2013 of Euro 826 million (+15% at constant exchange rates).

The American market again performed extremely well in the fourth quarter and achieved 11% growth for the year 2013 as a whole (+15% at constant exchange rates), due mainly to the retail channel which grew by 36% at constant exchange rates.

The European market held up well, notwithstanding the difficult economic environment and the recent strengthening of the Euro, with sales growth of 5% (+6% at constant exchange rates). As in the United States, the growth in Europe was driven by the retail channel (+11% at constant exchange rates), while wholesale channel sales were down on the previous financial year.

Japan continued its expansionary phase and revenues grew by 24% at constant exchange rates although the ongoing weakening of the Yen meant that Euro equivalent revenues were broadly in line with 2012 (+1%).

The contribution made by the Middle East area to the Group sales grew strongly: at January 31, 2014, there were 16 DOS in this area and they generated sales of Euro 90 million.

The Prada brand achieved excellent results with sales growth of 11% (+16% at constant exchange rates), especially in the retail channel where it recorded one of the highest growth rates in the sector (+20% at constant exchange rates), confirming the strength of the brand.

Miu Miu also achieved sales growth of 1% (+6% at constant exchange rates). In this case, too, the retail channel drove sales growth (+10% at constant exchange rates) with encouraging signs from emerging markets (including China) and the Americas.

The Church’s brand also recorded a positive trend with 3% sales growth at constant exchange rates, while Car Shoe sales were down because of the decrease in the wholesale channel.

In the financial year 2013, in line with its strategy, the Group continued to expand the retail network opening 79 stores (net) and taking the total number of DOS to 540 at the end of January 2014, comprising 330 Prada stores, 150 Miu Miu stores, 52 Church’s stores and 8 Car Shoe stores.

Mr. Patrizio Bertelli, Chief Executive Officer of the Company, declared “The 2013 financial year was the fourth consecutive year of strong growth. Against an unfavorable background of exchange rate volatility and the ongoing negative economic situation in Europe, we have maintained one of the highest

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rates of growth in the sector and have continued to pursue our objectives of retail growth. Moreover, in Italy, we launched a program of investment to improve our production structure and train our human resources with the aim of achieving constant improvement of quality and growth of industrial culture. The investments made, together with important marketing initiatives in support of the image of our brands, enable us to look forward with confidence to further progress in 2014.

The presence of our retail network in all markets, our leadership in terms of creativity and innovation and the strength of our brands will provide a strong foundation for our future strategy".

The information contained in this announcement is based on a preliminary assessment of the management accounts of the Group for the financial year ended January 31, 2014, which have not been audited or reviewed by the Company's auditors. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

The audited consolidated results of the Group for the financial year ended January 31, 2014 are tentatively scheduled to be announced by the Company on April 2, 2014.

By Order of the Company
PRADA S.p.A.
Mr. Carlo Mazzi
Deputy Chairman

Milan, Italy, February 12, 2014

As at the date of this announcement, the Company's executive directors are Ms. Miuccia PRADA BIANCHI, Mr. Patrizio BERTELLI, Mr. Carlo MAZZI, Mr. Donatello GALLI and Ms. Alessandra COZZANI; the Company's non-executive director is Mr. Gaetano MICCICHE and the Company's independent non-executive directors are Mr. Gian Franco Oliviero MATTEI, Mr. Giancarlo FORESTIERI and Mr. Sing Cheong LIU.