Slide 1: INDITEX 2024 Results
INDITEX 2024 Results 12 March 2025
Slide 2: Disclaimer
Disclaimer Neither this document nor the information contained herein constitute an offer to sell, buy or exchange, 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
Slide 3: Building on profitable growth
Building on profitable g
Slide 4: 2024: Strong growth and execution continues
2024: 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 / Strong sales growth (+7.5%). Sales +10.5% in constant currency / Sales positive in store&online and in all concepts / Net
Slide 5: 2025-2026: Strong commitment to profitable growth
2025-2026: Strong commitment to profitable growth / Unique business model: Fully integrated Store&Online / Four key pillars: fashion proposition, optimised customer experience, sustainability and a focus on the talent and commitment of our people / Global growth opportunities / Operations in 214 mar
Slide 6: Financial summary
Financial summary
Slide 7: 2024: Very strong execution
2024: Very strong execution € million FY24 FY23 24/23 Net sales 38,632 35,947 7.5% Gross profit 22,343 20,762 7.6% EBITDA 10,728 9,850 8.9% PBT Colt 6,870 10.3% Net income 5,866 5,381 9.0% INDITEX / Strong sales growth / Healthy gross margin / Disciplined cost management. Operating leverage / 8.9% g
Slide 8: Sales
Sales € million FY24 FY23 24/23 / Sales €38.6 billion. CC sales +10.5% Net sales 38,632 35,947 7.5% / Strong growth both in stores and online / Sales positive in all concepts / At current exchange rates, currency impact on sales in 2025 around -1% INDITEX FY2024
Slide 9: Global Store&Online sales breakdown in 2024
Global Store&Online sales breakdown in 2024 50.6% Europe ex- Spain 15.1% Spain 18.6% 15.7% Americas Asia & ROW Operations in 214 markets with low share in a highly fragmented sector INDITEX FY2024
Slide 10: Gross profit
Gross profit € million FY24 FY23 24/23 / Very healthy execution Gross profit 22,343 20,762 7.6% / Gross margin 57.8% (+8 bps) / Inditex expects a stable (+/-50 bps) gross margin in 2025 INDITEX 0 Fy2024
Slide 11: Operating efficiencies
Operating efficiencies € million FY24 FY23 24/23 / Rigorous control of operating expenses Op. Expenses 11,555 10,853 6.5% / Operating expenses grew below sales growth / Including all lease charges, operating expenses grew 126 bps below sales growth INDITEX FY2024
Slide 12: Working capital and net cash position
Working capital and net cash position € million FY24 FY23 / Robust operating performance nventory 3,321 2,966 / FY2024 inventory +12% vs FY2023 Receivables 1,088 1,038 / Current inventory +6% Payables (8,590) (7,467) / Inventory is considered of high quality Op. working capital (4,181) (3,463) / Net
Slide 13: Funds from operations
Funds from operations € million FY24 FY23 Funds from Operations(*) 7,684 6,991 Change in working capital (198) (56) Cash from Operations 7,486 6,934 Capital expenditure (2,672) (1,872) Free Cash Flow 4,814 5,062 “Cash lease payments added back INDITEX / Strong cash generation continues / Funds from
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Slide 15: Concepts
Concepts / Focused expansion continues / Store openings in 47 different markets / Optimisation activities across all concepts / Strong performance / Continued geographical expansion INDITEX FY2024
Slide 16: Concepts
Concepts / Robust group performance / PBT on sales increases to 19.6% / Return on Capital Employed increases 101 bps to 40% INDITEX € million Sales 24/23 PBT/Sales ROCE Zara & Zara Home 27,778 6.6% 9.5% 36% Pull&Bear 2,469 4.6% 8.6% 48% Massimo Dutti 1,960 6.6% 20.5% 51% Bershka 2,930 11.8% 8.7% 45%
Slide 17: Outlook
Outlook
Slide 18: Collection imagery
Slide 19: Unique fashion proposition
Unique fashion proposition / Creativity, innovation, design and quality INDITEX
Slide 20: Zara Woman The New
Slide 21: Zara Man The New
Zara Man The New
Slide 22: Zara Kids Timelesz
Slide 23: Zara Home Editions
Zara Home Editions
Slide 24: Massimo Dutti Gravity
Slide 25: Pull&Bear We are the Landscape
Pull&Bear We are the Landscape
Slide 26: Bershka Retro Sport
Slide 27: Stradivarius Denim of interest
Stradivarius Denim of interest
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Slide 29: Zara Nanjing Xi
Zara Nanjing Xi
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Slide 32: Zara Man Zurich Bahnhofstrasse
Zara Man Zurich Bahnhofstrasse
Slide 33: Bershka Mumbai Palladium Seal
Bershka Mumbai Palladium Seal
Slide 34: Pull&Bear London Oxford
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Slide 35: New soft tag technology fully operational in Zara
_ New soft tag technology is now fully operational in Zara 2 i >>.
Slide 36: Sustainability
Sustainability / Fibres - 73% of the textile fibres used in manufacturing our garments were lower-impact fibres in 2024 / Sustainability Innovation Hub - seed funding of start-ups in 2024 such as Infinited Fiber, Galy and Epoch / Emissions — 5% further reduction in Scope 1, 2 and 3 SBT GHG emissions
Slide 37: Inditex People
Inditex People / During 2024, around 3.3 million hours of training have been provided to our teams / There are now more than 3,100 people with some type of disability employed in Inditex, more than twice the number from three years ago INDITEX sr
Slide 38: Outlook: Strong commitment to profitable growth
Outlook: Strong commitment to profitable growth / To meet current strong demand / Increasing sales productivity in stores and online / Annual gross space growth c.5% in 2025-2026 / Positive space contribution / Continued online expansion INDITEX 38
Slide 39: Capex
Capex / 2025 Ordinary capital expenditure of around €1.8 billion / Mainly focused on stores, IT integration and online platforms INDITEX se
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Slide 41: Start to 2025
Start to 2025 / Start of 2025: Spring/Summer collections well received / Store&Online sales in CC between 1 February and 10 March (adjusted for the calendar effect of an extra day in February due to the leap year) grew 4%. In the last commercial week, store and online sales in constant currency incr
Slide 42: 9% dividend increase
9% dividend increase / Attractive and predictable dividend policy / 60% ordinary payout and bonus dividends / The Board of Directors will propose to the AGM a dividend of €1.68 per share (+9%) for 2024. It will be composed of an ordinary dividend of €1.13 and a bonus dividend of €0.55 per share. / T
Slide 43: INDITEX 2024 Results
INDITEX 2024 Results 12 March 2025