Inditex announces a net profit of more than 2.5 billion euro

In the first half of the year, the textile industry giant reported an operating result of 4,6 billion euro, 15.7% more than in the same period of the previous year.

In the first half of 2023, Inditex continued to show strong operational performance, based on the creativity of its teams and the good execution of its integrated store and online business model,

Óscar García Maceiras, CEO: “The results in this semester show that the talent of our teams consolidates the improvements in the performance of the business model. The permanent commitment to creativity, product quality and customer experience, as well as “the decisive advance in sustainability, make up a strategy that takes our business model to a higher level”.

The Spring/Summer campaign collections were very well received by customers. Sales grew by 13.5%, to 16,8 billion euro, with a very satisfactory evolution both in store and online, positive in all geographical areas and in all formats. Sales at constant exchange rates grew 16.6%.

Strong generation of funds. Adjusted for lease payments, the flows generated grew by 35.4% and the cash generated by operations grew by 57.4%.

In the first half of 2023 there have been openings in 20 markets. At the end of the period, Inditex operated 5,745 stores.

Net profit grew by 40.1%, reaching 2,5 billion euro.

Inditex continues to see great opportunities for future growth. “Our priorities are to continuously improve our fashion proposal; optimise the customer experience; increase our focus on sustainability; and preserve the talent and commitment of our people. Prioritising these areas will drive long-term growth. To take our business model to the next level and further expand our differentiation, we are developing a series of initiatives in all key areas for the coming years”.

“We continue to focus on creativity, innovation, design and quality of our collections and integrated sales channels, reinforcing the commercial initiatives of all our formats. Zara The Steven Meisel New York Collection, Zara Home Stripes&Overtones, Massimo Dutti Studio, Pull&Bear Pacific Republic, Bershka Denim, Stradivarius AW23 and Oysho Training are just some of the creative proposals for the second half of 2023”.