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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 MILANO DAL 1913 PRADA spa ( Stock Code : 1913 ) ANNOUNCEMENT OF THE CONSOLIDATED RESULTS FOR THE SIX - MONTH PERIOD ENDED JUNE 30 , 2021 Retail net sales were up by 60 % against the first six months of 2020 and up by 8 % compared to the same period of 2019 , both at constant exchange rates . Asia Pacific , America and the Middle East had double - digit growth compared with 2019. Europe recovered quickly with the reopenings thanks to robust demand from local customers , while Japan continued to be impacted by store closures following new lockdowns ; Gross margin uptick : 74.3 % of net revenues for six months ended June 30 , 2021 against 70.4 % for first half of 2020 and 71.7 % for first half of 2019 ; thanks to a disciplined management of expenses , operating costs declined versus the first half of 2019 ; EBIT above pre - Covid levels : Euro 166 million for the six months ended June 30 , 2021 , corresponding to 11.1 % of net revenues against Euro 150.5 million of the same period of 2019 , corresponding to 9.6 % of net revenues ; More effective inventory management made possible to reduce the Net operating working capital by Euro 45 million ; Net operating cash flow was Euro 316 million ; Net financial debt of Euro 102 million , a huge improvement from the Euro 311 million net debt at December 2020 . 1