Inditex signs another record quarter: it earned 1,168 million by selling 7,611

Inditex add and continue the rest a quarter a record for the Galician multinational, which closed the first quarter of its fiscal year with benefit net of 1,168 million euros, 54% more than that harvested a year earlier. The figure is based on a 13% improvement in sales, up to 7,611 million euros, and which is free of extraordinary costs such as the 216 million that the company had to record in the first quarter of last year due to the closure of stores in Russia, forced by the Russian invasion. On the territory of Russia, it had 502 stores and more than 9,000 employees and achieved 10% of its turnover. Throughout 2022, it applied a 2,211 million impairment charge to the value of the investments it had in its seven Russian subsidiaries.

The company attributes these good results to “the creativity of its teams and the good performance of its integrated store and on the line”. And he points out that “spring-summer collections are very well received by customers”. Sales grew in all geographic areas where the multinational operates and in all formats. At constant exchange rates, they increased by 15%.

The gross margin increased by 14%, to EUR 4,603 million and amounted to 60.5% (34 points more than a year ago). Business expenses increased by 13%; and the operating result (ebitda, profit before taxes, interest and depreciation) by 14%, up to EUR 2.195 million. Inditex now has available cash of 10,508 million euros, 14% more than a year ago.

With these braids, the board of directors will propose the payment to the shareholders meeting next month dividend of EUR 1.20 per share it is charged according to the results of 2022 divided into two at 0.60: the first was paid on May 2, 2023, and the second will take place on November 2.

A record for the first quarter that comes in addition to the one established by the Galician textile giant in 2022, the first of Martha Ortega in the presidency, in which he collected 32,569 million, 17.5% more than in 2021 and 4,300 million more than the previous figure; and in which its profit jumped to 4,130 million, 27% more. And that in addition to sales in Spain, which increased by 700 million to 4,690 million euros. This last figure, taken at street level, is roughly that of every Spaniard spending a hundred euros on clothing from a multinational company.

And he has the boost of the Galician multinational for his stock market prize. The company founded by Amancio Ortega has had an accumulated revaluation so far this year of just over 30%, and is once again walking around the 100,000 million mark in terms of capitalization. Its titles shed Tuesday’s session, ahead of the presentation of first-quarter results, to 31.82 euros, which puts the company’s value at 99.171 million.