Slide 1: INDITEX FY2023 Results
INDITEX FY2023 Results 1 February 2028 to 31 January 2024 In 2028, Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated business model Oscar Garcia Maceiras, CEO, "Inditex's performance in 2023 has been excelle
Slide 2: Logistics expansion plan and spring/summer start
/ Logistics expansion plan: Two-year extraordinary investment programme focused on the expansion of the business allocates €900 million per year to increase logistics capacities in each of the 2024 and 2025 financial years / Spring/Summer collections have been very well received by our customers. St
Slide 3: FY2023: Very strong execution
FY2023: Very strong execution In 2028, Inditex’s fully integrated model had a very strong operating performance. Sales, EBITDA and net income reached historic highs. Inditex continues to focus on four key areas: A unique product proposition, enhancing the customer experience, sustainability, and the
Slide 4: Sales by concept
Sales by concept Net sales by concept in 2023 are shown in the table below: Concept 2023 23/22 Zara (Zara and Zara Home) 26,050 10% Pull&Bear 2,359 10% Massimo Dutti 1,839 15% Bershka 2,621 10% Stradivarius 2,334 13% Oysho 744 19% Total 35,947 10% Sales by geography Store and Online sales by geograp
Slide 5: PBT, net income and cash flow
A breakdown of financial results can be found in Annex VI. Results from companies consolidated by the equity method came to €72 million. PBT increased 28.2% to €6.9 billion. The breakdown of PBT by concept is shown below: PBT by concept (€m) Concept 2023 Zara (Zara and Zara Home) 5,004 Pull&Bear 438
Slide 6: Working capital, capex and dividends
Million Euros 3iJanuary = 31 January 2024 2023 Inventories 2,966 3,191 Receivables 1,038 851 Payables (7,467) (6,561) Operating working capital (3,463) (2,520) Capital expenditure for FY2023 came to €1.87 billion, of which €240 million relates to extraordinary capex linked to multiyear projects. Div
Slide 7: Initiatives to extend differentiation
To take our business model to the next level and extend our differentiation further we are developing a number of initiatives in key areas for the coming years. / Product Proposition We will continue focusing on the creativity, quality and design of all our products and reinforcing the commercial in
Slide 8: Sustainability and people
/ Sustainability In terms of circularity, the Zara Pre-Owned platform is currently available in 16 European markets, and will reach new relevant markets, starting with the United States. Through this platform, we will continue helping our customers to extend the life cycle of their Zara garments thr
Slide 9: Logistics expansion plan 2024-2025
In view of the strong future growth opportunities, Inditex is implementing a logistics expansion plan in 2024 and 2025. This extraordinary two-year investment programme focused on the expansion of the business allocates €900 million per year to increase logistics capacities in each of the 2024 and 2
Slide 10: Consolidated financial statements
Consolidated financial statements Inditex Group FY2023 Consolidated Income Statement (€m) FY2023 Net sales 35,947 Cost of sales (15,186) Gross profit 20,762 Gross margin 57.8% Operating expenses (10,853) Other net operating income (losses) (59) Operating cash flow (EBITDA) 9,850 EBITDA margin 274% O
Slide 11: Consolidated Balance Sheet
Inditex Group Consolidated Balance Sheet as of 31 January 2024 (€m) 31 January 31 January 2024 2023 Assets Non Current Assets 16,719 15,344 Right of use 5,097 4,910 Intangible assets 1,420 1,003 Tangible assets 8,361 7,615 Financial investments 398 334 Other 1,443 1,481 Current Assets 16,016 14,639
Slide 12: Consolidated Statement of Cash Flows
Grupo Inditex Consolidated Statement of Cash Flows as of 31 January 2024 (€m) FY2023 FY2022 Income before taxes 6,870 5,358 Adjustments to income- Depreciation and amortization 3,041 2,899 Lease financial expenses 196 116 Other 76 146 Corporate income tax- (1,460) (1,176) Funds from operations 8,723
Slide 13: Annex: FY2023 quarterly results
Annex | Income statement: FY2028 quarterly results 1Q 2Q 3Q 4Q Net sales 7.61 9,239 8,758 10,338 Cost of sales (3,008) (4,042) (3,356) (4,780) Gross profit 4,603 5,198 5,402 5,558 60.5% 56.3% 61.7% 53.8% 34 bps 23 bps 153 bps 94 bps Operating expenses (2,398) (2,718) (2,617) (3,120) Other net operat
Slide 14: Return on Capital Employed and stores
Return on Capital Employed (RoCE), defined as PBT on average capital employed (average Equity attributable to the Group plus net financial debt): Million Euros 2023 2022 Income before taxes 6,870 5,358 Average capital employed Average Equity attributable to the Group 17,825 16,371 Average net financ
Slide 15: Sales in company-managed and franchised stores
Sales in company-managed and franchised stores: Concept Company Franchised Managed Zara (Zara and Zara Home) 87% 13% Pull&Bear 81% 19% Massimo Dutti 80% 20% Bershka 83% 7% Stradivarius 80% 20% Oysho 81% 19% Total 85% 15% Annex IV Number of stores by concept: 31 January 31 January Concept 2024 2023 Z
Slide 16: Stores by concept and market
FY2023 Results Annex V Stores by concept and market as at 31 January 2024: Market ALBANIA GERMANY ANDORRA SAUDI ARABIA ALGERIA ARGENTINA, ARMENIA, ARUBA AUSTRALIA AUSTRIA AZERBAIJAN BAHREIN BELGIUM BELARUS BOSNIA-HERZEGOVINA BRAZIL BULGARIA CAMBODIA CANADA CHILE MAINLAND CHINA HONG KONG SAR MACAO SA
Slide 17: Breakdown of financial results
Breakdown of financial results: Million Euros Net financial income (losses) Lease financial expenses Foreign exchange gains (losses) Total Annex V!| 2023 305 (196) (120) (11) 2022 56 (116) (155) (214) The Gross Margin, EBITDA, EBIT, PBT, ROE, ROCE, working capital, average net financial debt, net fi
Slide 18: Disclaimer
Disclaimer Neither this document nor the information contained herein constitute an offer to sell, exchange or buy, or the solicitation of an offer to buy, to sell or exchange, or any recommendation or advice regarding any securities issued by the Inditex Group. This document may contain statements