Prada Spa Ord

Good day and thank you for standing by. Welcome to the Prada Group full year 2024 results presentation. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be aware that we'll take and answer one question at a time before moving to the next question. And please also know that today's conference is being recorded. I would now like to turn the conference over to Ms. Andrea Bonini, CFO. Please go ahead, sir.

Good afternoon, everyone, and thank you for joining Prada Group's full year 2024 results conference call. This is Andrea Bonini, Group Chief Financial Officer. I'm delighted to be with you again, and I'm joined by Mr. Patrizio Bertelli, Executive Chairman of the Board, Mr. Andrea Guerra, Group CEO, and Mr. Lorenzo Bertelli, Chief Marketing Officer and Head of CSR. Mr. Patrizio Bertelli will start today with group highlights for the year, followed by Mr. Lorenzo Bertelli, who will provide an overview of our marketing and communication activities and an update on our ESG initiatives. Mr. Guerra will then give you a business update, and I will provide details on our financial performance before Mr. Guerra signs off with some closing remarks. as a reminder during today's call we may discuss forward-looking statements which are subject to risks uncertainties and factors beyond our control they could cause the actual outcome and returns to defer materially from such statements please refer to the disclaimers including on slide two of our presentation with that i will hand over to mr bertelli

Welcome to the presentations of the Gruppo Prada financial year 2024 results. I'd like to start by providing you with a short update on another year of progress for our group that kept generating a growth which is higher than the market average and increased its profitability despite the challenging sector. backdrop. We closed 2024 with revenues at 5.4 billion euros, up 17% at constant exchange rates. EBIT has achieved 1.28 billion euros with a margin of 23.6%. The group completed the year with a net cash position of 600 million euros, so the financials are extremely robust. These results highlight the strength of our brands, which is rooted in our constant attention to product and quality and in the capability to understand the contemporary with a lot of creative dynamics. We continued with a lot of energy and discipline in our store renovation program, and our retail network is now stronger and more productive. Thanks to vertical integration that the product group has always invested in, our factories and our people can grant quality agility, and effectiveness for all of us. These characteristics are even more important now than the market conditions are less favorable. In 2024, we further strengthened the foundations of our group and brands, and this is why, despite a patchy market backdrop, we are looking at 2025 with a lot of trust, and we continue to work and invest for sustainable long-term growth. Let me now yield the floor to Lorenzo Bertelli for an update on marketing and communication programs and on our progresses in sustainability. Thank you.