Slide 1: Interim Nine Months 2021
INDITEX Interim Nine Months 2021 15 December 2021 INDITEX INTERIM 9 MONTHS 2021 1
Slide 2: Disclaimer
Disclaimer This document and the information contained herein does not constitute an offer to sell, exchange or buy, or the solicitation of an offer to buy, or any recommendation or advice regarding, any securities issued by the Inditex Group. This document may contain statements regarding intention
Slide 3: Differentiation and strategic transformation accelerates
Differentiation and strategic transformation accelerates INDITEX INTERIM 9 MONTHS 2021 3
Slide 4: Inditex differentiation and strategic transformation accelerates
Inditex differentiation and strategic transformation accelerates Transformation to fully-integrated, digital, sustainable business model accelerates People first 3Q21 sales, PBT and net income reached historic highs Based on a further acceleration in sales in CC to +21% vs 3Q20 and 10% over
Slide 5: Inditex differentiation and strategic transformation accelerates
Inditex differentiation and strategic transformation accelerates Strong differentiation CC sales growth +21% vs 3Q20 (+10% vs 3Q19) Store optimisation Store sales in CC exceed 3Q19 with 11% fewer stores Technology as an accelerator: RFID/SINT/IOP Online sales keep growing strongly INDITE
Slide 6: Strength of integration: all stores open, online keeps growing
Strength of integration: all stores open, online keeps growing Sales of absorbed stores fully recovered Strong advantage of business model and single inventory position Online continues to grow strongly: +28% over 9M20 and +124% over 9M19 at CC Online to reach above 25% of sales in FY21 Se
Slide 7: Resolutions of Inditex Board of Directors
Resolutions of Inditex Board of Directors Appointment of Marta Ortega Pérez as Chair of the Board of Directors, as a proprietary director, effective as from 1 April 2022. Pablo Isla to continue as Executive Chairman until 31 March 2022 Óscar García Maceiras has been appointed Chief Executive Off
Slide 8: Continuity in key strategic pillars
Continuity in key strategic pillars Unique business model Full integration of Stores & Online Deep talent pool and strong individual commitment Customer-centric and entrepreneurial corporate culture Sustainability and digitalisation Investment in the future growth of the business Predi
Slide 9: Financial summary
Financial summary INDITEX INTERIM 9 MONTHS 2021 9
Slide 10: 9 Months 2021: Very strong operating performance
9 Months 2021: Very strong operating performance Very strong sales progression € million 9M21 9M20 21/20 Active management of supply chain Net sales 19,325 14,085 37% Healthy gross margin evolution Gross profit 11,409 8,172 40% Tight control of operating expenses PBT 3,231 857 277% Strong
Slide 11: 3Q21 Sales, PBT and net income at historic highs
3Q21 Sales, PBT and net income at historic highs 3Q21 Sales, PBT and net income at € million 3Q21 3Q19 21/19 historic highs despite restrictions and store Net sales 7,390 7,000 6% absorptions Gross profit 4,502 4,254 6% Operating leverage PBT 1,588 1,486 7% Active management of supply chain Ne
Slide 12: 9M21 Strong sales
9M21 Strong sales Strong sales performance € million 9M21 9M20 % Sales in CC grew +39% Net sales 19,325 14,085 37% 9M21 sales trends improve as stores reopen and online continues growing INDITEX INTERIM 9 MONTHS 2021 12
Slide 13: 3Q21 acceleration in sales
3Q21 acceleration in sales 3Q21 sales in constant currency +21% over 3Q20 and +10% above 3Q19 Store sales in CC exceed 3Q19 levels with 11% fewer stores 9M21 online sales in CC +28% over 9M20 and +124% over 9M19 INDITEX INTERIM 9 MONTHS 2021 13
Slide 14: Gross margin shows very strong execution
Gross margin shows very strong execution Flexibility of supply chain key 9M21 9M20 21/20 Based on current information we expect a Gross margin 59.0% 58.0% +101bps gross margin of 57.5% (+/- 50 bps) for FY21 INDITEX INTERIM 9 MONTHS 2021 14
Slide 15: Operating efficiencies
Operating efficiencies All expense lines have shown a € million 9M21 9M20 9M19 favourable evolution Op. expenses 5,956 4,812 5,811 Operating expenses increased 24% over 9M20, below sales growth INDITEX INTERIM 9 MONTHS 2021 15
Slide 16: Depreciation
Depreciation Depreciation & Amortisation in 9M20 € million 9M21 9M20 21/20 includes completion of space optimisation Depreciation 2,138 2,388 (10%) 2020-2021 booked in 1Q20 INDITEX INTERIM 9 MONTHS 2021 16
Slide 17: Flexibility of business model key to performance
Flexibility of business model key to performance Flexibility of supply chain € million 9M21 9M20 9M19 Single inventory Inventory 3,650 3,067 3,434 High quality closing inventory Receivables 909 787 843 Improved working capital dynamics Payables (8,104) (6,842) (7,517) Op. working capital (3,
Slide 18: Strong cash flow and financial condition
Strong cash flow and financial condition Cash generation at historic highs € million 9M21 9M20 9M19 Net cash grew +16% vs 9M20 (+24% vs Net Cash Position 9,569 8,265 7,734 9M19) INDITEX INTERIM 9 MONTHS 2021 18
Slide 19: Concepts
Concepts INDITEX INTERIM 9 MONTHS 2021 19
Slide 20: Store & Online sales by concept
Store & Online sales by concept Sales Pull&Bear Massimo Dutti Bershka Zara Stradivarius & Zara Home Oysho Uterqüe INDITEX INTERIM 9 MONTHS 2021 20
Slide 21: Performance per concept
Performance per concept Uterqüe Stradivarius Group average Massimo Pull&Bear Oysho Bershka Dutti INDITEX INTERIM 9 MONTHS 2021 21
Slide 22: Concepts
Concepts Remarkable online growth across all concepts Strong performance of Stradivarius and Oysho Optimisation activity in all concepts INDITEX INTERIM 9 MONTHS 2021 22
Slide 23: Outlook
Outlook INDITEX INTERIM 9 MONTHS 2021 23
Slide 24: Zara Atelier
Zara Atelier INDITEX INTERIM 9 MONTHS 2021 24
Slide 25: Zara AZ
Zara AZ INDITEX INTERIM 9 MONTHS 2021 25
Slide 26: Zara Man Outerwear
Zara Man Outerwear INDITEX INTERIM 9 MONTHS 2021 26
Slide 27: Zara Kids Party
Zara Kids Party INDITEX INTERIM 9 MONTHS 2021 27
Slide 28: Zara Home Christmas at home
Zara Home Christmas at home INDITEX INTERIM 9 MONTHS 2021 28
Slide 29: Massimo Dutti Join Life
Massimo Dutti Join Life INDITEX INTERIM 9 MONTHS 2021 29
Slide 30: Bershka Red western
Bershka Red western INDITEX INTERIM 9 MONTHS 2021 30
Slide 31: Pull&Bear 19.91 Colours
Pull&Bear 19.91 Colours INDITEX INTERIM 9 MONTHS 2021 31
Slide 32: Stradivarius Retro vibes
Stradivarius Retro vibes INDITEX INTERIM 9 MONTHS 2021 32
Slide 33: Oysho Ski
Oysho Ski INDITEX INTERIM 9 MONTHS 2021 33
Slide 34: Uterqüe A/W collection
Uterqüe A/W collection INDITEX INTERIM 9 MONTHS 2021 34
Slide 35: Zara London One New Change
Zara London One New Change INDITEX INTERIM 9 MONTHS 2021 35
Slide 36: Zara Milan Corso Buenos Aires
Zara Milan Corso Buenos Aires INDITEX INTERIM 9 MONTHS 2021 36
Slide 37: Zara Cologne Schildergasse
Zara Cologne Schildergasse INDITEX INTERIM 9 MONTHS 2021 37
Slide 38: Outlook
Outlook Global fully integrated Store & Online Strong organic growth. Increased differentiation Strong online sales growth to continue Sustainability is central to the strategy Increased profitability. Lower capital intensity Inditex’s dividend policy of 60% ordinary payout and bonus div
Slide 39: FY21 Results
FY21 Results 2021 Results to be released on 16 March 2022 INDITEX INTERIM 9 MONTHS 2021 39
Slide 40: INDITEX Interim Nine Months 2021
INDITEX Interim Nine Months 2021 15 December 2021 INDITEX INTERIM 9 MONTHS 2021 40