Slide 1: Interim Half Year 2024
INDITEX Interim Half Year 2024 11 September 2024
Slide 2: Disclaimer
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Slide 3: To the next level
To the next level
Slide 4: 1H2024: Strong growth and execution continues
1H2024: Strong growth and execution continues / Strong operating performance continues due to the creativity of the teams and the execution of the fully integrated business model / Unique fashion proposition, optimised customer experience, sustainability and a focus on the talent and commitment of o
Slide 5: To the next level
To the next level / Global growth opportunities / Operations in 214 markets with low market share in a highly fragmented sector / \Increased differentiation INDITEX 7
Slide 6: Financial summary
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Slide 7: 1H2024: Very strong execution
1H2024: Very strong execution € million 1H24 1H23 24/23 Net sales 18,065 16,851 1.2% Gross profit 10,541 9,801 7.5% EBITDA 5,040 4,663 8.1% PBT 3,598 3,252 10.6% Net income 2,768 2,513 10.1% INDITEX / Strong sales growth / Healthy gross margin / Disciplined cost management. Operating leverage / 81%
Slide 8: Sales
Sales € million 1H24 1H23 24/23 / Sales €18.1 billion. CC sales +10.2% Net sales 18,065 16,851 7.2% / Strong growth both in stores and online / Sales positive in all concepts / At current exchange rates we expect a currency impact on sales around -3.0% for 2024 INDITEX Interim Half Year 2024
Slide 9: Global Store & Online sales breakdown in 1H2024
Global Store & Online sales breakdown in 1H2024 49.9% Europe ex-Spain 18.8% 16.6% Americas Asia & RoW Operations in 214 markets with low share in a highly fragmented sector Strong growth across the board Interim Half Year 2024
Slide 10: Gross profit
Gross profit € million 1H24 1H23 24/23 / Very healthy execution Gross profit 10,541 9,801 75% / Gross margin 58.3% (+19bps) INDITEX / Inditex expects a stable (+/-50 bps) gross margin in 2024 Interim Half Year 2024
Slide 11: Operating efficiencies
Operating efficiencies € million 1H24 1H23 24/23 / Rigorous control of operating expenses Op. Expenses 5,467 5116 6.8% / Operating expenses grew below sales growth / Including all lease charges, operating expenses grew 102 basis points below sales growth INDITEX Interim Half Year 2024
Slide 12: Working capital
Working capital € million 1H24 1H23 Inventory 3,363 3,420 Receivables 1,121 1,012 Payables (10,438) (9,140) Op. working capital (5,954) (4,708) INDITEX / Robust operating performance / 1H2024 inventory -2% vs 1H2023 / Inventory is considered of high quality Interim Half Year 2024
Slide 13: Cash Flow
Cash Flow* € million 1H24 1H23 Funds from Operations (before tax) 4,356 4,002 Corporate income tax (829) (585) Funds from Operations 3,527 3,416 Change in working capital (342) (245) Cash from Operations 3,185 3,171 Capital expenditure (1,276) (808) Free Cash Flow 1,909 2,363 “Cash lease payments ad
Slide 14: Concepts
Concepts
Slide 15: Sales by concept
Sales by concept € million 1H24 1H23 Zara & Zara Home 13,033 12,362 Pull&Bear 1,124 1,042 Massimo Dutti 904 842 Bershka 1,382 1,184 Stradivarius 1,225 1,075 Oysho 368 346 Total 18,065 16,851 INDITEX / Sales across all concepts have been robust Interim Half Year 2024
Slide 16: Zara & Zara Home
Concepts / Focused expansion continues / Store openings in 34 different markets in 1H2024 / Optimisation activities across all concepts drive strong sales growth
Slide 17: To the next level
} A / To the next level it ii ii ii ia
Slide 18: Unique fashion proposition
Unique fashion proposition / Creativity, innovation, design and quality INDITEX
Slide 19: Onto the process
/0NTo THE PROCESS ‘qe nacen bajo Ue atrade de un euldade proceso Loc IN HELP orev surt Pantslén de tire slte con ctaturin Uazade on steno tesido. Plarna recta. Detalte de plaza an delantero. Clarre frontal con cramatlere y botén intertor. ‘tos, caver0s ¥ oevoLucrones CCOMPOSECION, CUIDADOS & ORIGEN
Slide 20: Zara Woman
Slide 21: Zara Man NYFW Edition
Zara Man NYFW Edition a Re
Slide 22: Zara Kids Timelesz
Zara Kids Timelesz
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Slide 24: Massimo Dutti Studio
Slide 25: Pull&Bear Winter Trends
Pull&Bear Winter Trends
Slide 26: Bershka Denim Core
Slide 27: Stradivarius The Beauty of Routine
Slide 28: Oysho Yoga Collection
Oysho Yoga Collection
Slide 29: Zara & Zara Home Lisbon Rossio
Zara & Zara Home Lisbon Rossio
Slide 30: Zara Valladolid Constitucion
Zara Valladolid Constitucion
Slide 31: Zara Liverpool One
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Slide 34: pais Tia |
pais Tia |
Slide 35: Bershka London Oxford Street
Slide 36: Massimo Dutti Miami Aventura Mall
Massimo Dutti Miami Aventura Mall
Slide 37: Zara Home Milan Palazzo Ferrania
Slide 38: Oysho Lima Jockey Plaza
~ Oyshorkima Jockey Plaza
Slide 39: Continued roll-out of new self check-out and security technology
Continued ro t of new self check-outand security technology
Slide 40: End of September
‘end of September
Slide 41: Sustainability
Sustainability / Investment in Galy - a US start-up that has developed innovative technology _ for growing cotton in a lab / CIRC X Zara Il - new collection launched INDITEX 4
Slide 42: Zara Pre-owned US launch by end of October
Zara Pre-owned US launch by end of October INDITEX # Interim Half Year 2024
Slide 43: People
People / ‘Top Employers’ seal in 12 of our most relevant markets / Woman in Tech. ‘Technovation’ global programme. More than 30,000 young women from 50 countries 43 INDITEX
Slide 44: Outlook 2024
Outlook 2024 / Strong sales productivity in stores and online / Annual gross space growth c.5% in 2024-2026. Positive space contribution in the period / Ordinary capital expenditure of around €1.8 billion / Two-year extraordinary investments in logistics in 2024-2025. €900m in each year 44 INDITEX
Slide 45: 2024-25 Logistics expansion plan on track
Slide 46: 28% dividend increase
28% dividend increase / Attractive and predictable dividend policy / Final 2023 dividend to be paid on 4 November 2024: €0.77 per share (€0.27 ordinary + €0.50 bonus) INDITEX 4
Slide 47: Strong start to 2H2024
Strong start to 2H2024 / Autumn/Winter collections continue to be very well received / Store&Online sales in CC between 1 August and 8 September grew +11% INDITEX
Slide 48: INDITEX
INDITEX Interim Half Year 2024 11 September 2024