(News Bulletin 247) – In the first quarter of 2023, Inditex continued to show a solid operational performance.
The spring/summer collections were well received. Sales increased by +13% compared to the 1st quarter of 2022 to reach 7.6 billion euros. Sales were positive in all geographies. At constant exchange rates, they increased by 15%.
Gross profit increased by 14% to 4.6 billion euros. Gross margin reached 60.5% (+34 basis points compared to 1Q2022).
EBITDA increased by 14% to 2.2 billion euros. EBIT increased by 43% to 1.5 billion euros and PBT by 52% to 1.5 billion euros.
Net profit increased by 54% to 1.2 billion euros. The net cash position increased by 14% to €10.5 billion.
The Inditex board of directors will propose to the annual general meeting a dividend of €1.20 for the 2022 financial year.
Inditex continues to see strong growth opportunities. ‘In-store and online sales at constant currency between May 1 and June 4, 2023 increased by 16% compared to the same period in 2022.’
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
