Industria De Diseno Textil, S.a. · BME:ITX
Industria De Diseno Textil — Inditex — Q1 2024 Earnings Presentation
41 slides from Industria De Diseno Textil's earnings presentation, Jun 5, 2024
Slide 1: Interim three months 2024
INDITEX Interim three months 2024 5 June 2024
Slide 2: Disclaimer
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Slide 3: Slide 3
Slide 4: 1Q2024: Strong growth and execution continues
1Q2024: 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 share in a highly fragmented sector / \Increased differentiation INDITEX 7
Slide 6: Financial summary
Slide 7: 1Q2024: Very strong execution
1Q2024: Very strong execution € million 1Q24 1Q23 24/23 Net sales 8,150 7,611 1.1% Gross profit 4,940 4,603 7.3% EBITDA 2,370 2,195 8.0% PBT 1,672 1,505 11.1% Net income 1,294 1,168 10.8% INDITEX / Strong sales growth / Healthy gross margin / Disciplined cost management. Operating leverage / 8.0% gr
Slide 8: Sales
Sales € million 1Q24 1Q23 24/23 / Sales €8.2 billion. CC sales 10.6% Net sales 8,150 7,611 71% / At current exchange rates we expect a currency impact on sales around -2.0% for 2024 INDITEX Interim Three Months 2024
Slide 9: Gross profit
Gross profit 1Q24 1Q23 24/23 / Very healthy execution Gross margin 60.6% 60.5% 13bps / Gross profit +7.3% to €4.9b6n / Inditex expects a stable (+/-50 bps) gross margin in 2024 INDITEX ° Interim Three Months 2024
Slide 10: Operating efficiencies
Operating efficiencies € million 1Q24 1Q23 24/23 / Rigorous control of operating expenses Op. Expenses 2,953 2,398 6.4% / Operating expenses grew below sales growth INDITEX / Including all lease charges, operating expenses grew 110 basis points below sales growth Interim Three Months 2024
Slide 11: Working capital
Working capital € million 1Q24 1Q23 / Robust operating performance Inventory 3,566 3,680 / 1Q2024 inventory -3% and is considered high Receivables 1131 1,028 quality Payables (10,126) (8,765) Op. working capital (5,429) (4,062) INDITEX Interim Three Months 2024
Slide 12: Concepts
Slide 13: Concepts
Concepts / Store&Online sales very robust across all concepts / Store openings in 28 different markets / Strong performance at all levels INDITEX 8
Slide 14: Our fashion proposition: Creativity, innovation, design and quality
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Slide 16: Zara
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Slide 17: Zara Man
Slide 18: Zara Kids
Slide 19: Zara Home
Slide 20: Pull&Bear
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Slide 21: Massimo Dutti
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Slide 22: Bershka
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Slide 23: Stradivarius
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Slide 24: Oysho
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Slide 25: New Zara store design
Slide 26: Zara Home Paris Rue de Bac
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Slide 28: Zara Paris Rivoli
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Slide 30: Zara Chicago Skokie
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Slide 31: Zara Man Sevilla
Slide 32: Pull&Bear Rotterdam
Slide 33: Massimo Dutti Cannes
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Slide 34: Bershka Mexico City Madero
Slide 35: Stradivarius Madrid Gran Via
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Slide 36: Oysho London Stratford
Slide 37: Continued roll-out of new self check-out and security technology
Slide 38: 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. INDITEX “8
Slide 39: 28% dividend increase
28% dividend increase / Attractive and predictable dividend policy / The dividend will be made up of two equal payments / 2 May 2024: €0.77 per share ordinary paid / 4November 2024: €0.77 per share (€0.27 ordinary + €0.50 bonus) INDITEX 8°
Slide 40: Strong start to 2Q2024
Strong start to 2Q2024 / Spring/Summer collections continue to be very well received / Store&Online sales in CC between 1 May and 3 June grew +12% 40 INDITEX
Slide 41: Interim three months 2024
INDITEX Interim three months 2024 5 June 2024