《大行》中金续予普拉达「跑赢行业」评级 下调纯利预测

CICC published a research report indicating that Prada (01913.HK) experienced a 9% year-on-year revenue growth in the third quarter when calculated at constant exchange rates, with total sales of €1.33 billion, slightly exceeding market expectations.

The firm stated that due to adverse foreign exchange factors affecting Prada, coupled with the expectation that the acquisition of Versace will require additional loans, financial costs have risen. As a result, it has lowered its forecast for this year's net profit by 7.5% to €880 million. The firm has also correspondingly reduced its forecasts for Prada's revenue and EBIT this year by 6.1% and 6.9%, to €5.731 billion and €1.359 billion, respectively. Due to increased competition, the firm has also lowered next year's revenue forecast by 9.6% to €6.155 billion, with EBIT and net profit forecasts reduced by 13.2% and 14.1%, to €1.492 billion and €976 million, respectively.

The firm maintains Prada's "outperforming the industry" rating and target price of HKD 75