Companies

Inditex posts strong performance

Sep 16, 2022 Spain

The Spanish-based fashion group reported that sales, EBITDA and net income reached historic highs in the first half of 2022

"The results are explained by four factors, key to our performance. Our unique fashion proposition, an increasingly optimised shopping experience for our customers, our focus on sustainability, and the talent and commitment of our people. Our business model is progressing at full pace and has great growth potential going forward", commented Oscar García Maceiras, CEO of Inditex.

First Half Results

In the first half of the year, Inditex's sales grew by 24.5% (by 25% in constant currencies) across all key geographical areas, amounting to 14.8 billion euros, as compared to the same period of 2021. The group noted that online sales are progressing "satisfactorily", and are expected to exceed 30% of total sales by 2024.

The fashion group's gross profit increased by 24.5% in the first six months of 2022, reaching 8.6 billion US dollars, on a comparable basis to the same months of last year, and the gross margin was 57.9%, "the highest in 7 years".

In the first semester of the current fiscal year, Inditex reported an EBITDA increase of 30% to 4 million euros, and net income totalled 1.8 billion euros, up by 44%, as compared to the same period of fiscal 2021.

At the end of this period, Inditex operated 6 370 stores.

Image Credits: fashiongonerogue.com

Spain Companies Fashion Footwear Inditex Quarter Results Results