Slide 1: Interim Three Months 2021
Interim Three Months 2021 9 June 2021 INDITEX INTERIM THREE MONTHS 2021 1
Slide 2: Disclaimer
Disclaimer This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer to buy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looki
Slide 3: Differentiation and strategic transformation continues to deliver
2021 Differentiation and strategic transformation continues to deliver INDITEX INTERIM THREE MONTHS 2021 3
Slide 4: 2021: Differentiation and strategic transformation
2021: Differentiation and strategic transformation Inditex’s differentiation and strategic transformation towards a fully integrated, digital and sustainable business model continues to deliver Over 1Q2021 store sales have steadily improved. Online sales continue to grow strongly: +67% in 1Q2021
Slide 5: Most stores have opened but some restrictions persist
Most stores have opened but some restrictions persist INDITEX INTERIM THREE MONTHS 2021 5
Slide 6: Healthy sales productivity
Healthy sales productivity 1Q2021 Trading hours (24.1%) Store & online sales growth (11.5%) *in constant currency vs same period 2019 INDITEX INTERIM THREE MONTHS 2021 6
Slide 7: Online continues to grow strongly
Online continues to grow strongly +67% Online sales growth in CC 1Q2021 Strong advantage from the business model and fashion proposition Sector leading growth rates and profitability with lower capital intensity Online business grow in all concepts and markets INDITEX INTERIM THREE MONTHS 2021
Slide 8: Zara S/S 2021
Zara S/S 2021 INDITEX INTERIM THREE MONTHS 2021 8
Slide 9: Launch of Zara Beauty
Launch of Zara Beauty INDITEX INTERIM THREE MONTHS 2021 9
Slide 10: Zara Beauty
Zara Beauty Launched in selected stores and online 12 May Full range of beauty products for eyes, lips, face and nails in over 130 shades Made using top-quality compounds. Strong sustainability credentials. No animal testing The packaging is designed for refilling to foster reuse and makes e
Slide 11: Zara Beauty
Zara Beauty INDITEX INTERIM THREE MONTHS 2021 11
Slide 12: Zara, Zara Home and Stradivarius in Madrid Plaza de España
Zara, Zara Home and Stradivarius in Madrid Plaza de España INDITEX INTERIM THREE MONTHS 2021 12
Slide 13: Zara Home launches new image
Zara Home launches new image INDITEX INTERIM THREE MONTHS 2021 13
Slide 14: Zara Home launches new image
Zara Home launches new image INDITEX INTERIM THREE MONTHS 2021 14
Slide 15: Massimo Dutti Cahier de Voyage editorial
Massimo Dutti Cahier de Voyage editorial INDITEX INTERIM THREE MONTHS 2021 15
Slide 16: Bershka launches new image
Bershka launches new image INDITEX INTERIM THREE MONTHS 2021 16
Slide 17: Pull&Bear On my way to Summer
Pull&Bear On my way to Summer INDITEX INTERIM THREE MONTHS 2021 17
Slide 18: Stradivarius Summer collection
Stradivarius Summer collection INDITEX INTERIM THREE MONTHS 2021 18
Slide 19: Oysho weekend vibes collection
Oysho weekend vibes collection INDITEX INTERIM THREE MONTHS 2021 19
Slide 20: Uterqüe Summer collection
Uterqüe Summer collection INDITEX INTERIM THREE MONTHS 2021 20
Slide 21: Sustainability at stores
Sustainability at stores Leading in sustainability. Eco- efficient stores LEED certificate on new flagship stores Inergy platform: centralised control and optimisation of energy consumption. Bigger, better, more beautiful stores, in best locations globally INDITEX INTERIM THREE MONTHS 2021 2
Slide 22: Sustainability at HQ
Sustainability at HQ New Zara online studios represent the best visual example of Inditex’s strategic transformation Store&Online integration, technology and advanced sustainability 100% renewable power use 3,380 solar panels supply 50% of energy needs Rainwater collected and reused Ultr
Slide 23: Financial Summary
Financial Summary INDITEX INTERIM THREE MONTHS 2021 23
Slide 24: 1Q2021: Strong recovery in operations
1Q2021: Strong recovery in operations € million 1Q21 1Q20 21/20 Strong recovery in challenging environment Net sales 4,942 3,303 50% Active management of supply chain Gross profit 2,962 1,930 54% Healthy gross margin evolution EBITDA 1,235 484 155% Very efficient cost management across Net i
Slide 25: Sales
Sales € million 1Q21 1Q20 21/20 Strong recovery in sales Net sales 4,942 3,303 50% Online sales +67% CC in 1Q2021 1Q2021 sales trends improve as stores reopen and online sustains outstanding progress INDITEX INTERIM THREE MONTHS 2021 25
Slide 26: Gross margin
Gross margin € million 1Q2021 1Q2020 21/20 Flexibility of supply chain key to gross margin performance Gross margin 59.9% 58.4% +152bps 1Q21 gross margin +47 bps vs 1Q19 INDITEX INTERIM THREE MONTHS 2021 26
Slide 27: Operating efficiencies
Operating efficiencies € million 1Q21 1Q20 21/20 Very efficient cost management across all departments and business areas Op. expenses 1,716 1,448 19% Demonstrates our ability to react and adapt continuously to the changing trading environment The main components of operating expenses have sho
Slide 28: Depreciation
Depreciation € million 1Q21 1Q20 21/20 1Q2020: Depreciation & Amortisation includes completion of space Depreciation 666 992 (33%) optimisation 2020-2021 1Q2021 underlying depreciation and amortisation fell 3% vs 1Q2020 INDITEX INTERIM THREE MONTHS 2021 28
Slide 29: Flexibility of business model key to performance
Flexibility of business model key to performance € million 1Q21 1Q20 1Q19 Flexibility of supply chain Inventory 2,769 2,629 2,923 Single inventory Receivables 893 644 846 High quality inventory at period end Payables (5,781) (3,877) (6,306) Improved working capital dynamics Op. working capit
Slide 30: Strong cash flow and financial condition
Strong cash flow and financial condition € million 1Q21 1Q20 21/20 Strong cash generation Net Cash Position 7,176 5,752 25% Net cash position up +8% vs 2019 INDITEX INTERIM THREE MONTHS 2021 30
Slide 31: Concepts
Concepts INDITEX INTERIM THREE MONTHS 2021 31
Slide 32: Store & Online sales by concept
Store & Online sales by concept Sales Pull&Bear Massimo Dutti Bershka Stradivarius Oysho Zara & Uterqüe Zara Home INDITEX INTERIM THREE MONTHS 2021 32
Slide 33: Performance per concept
Performance per concept Oysho Uterqüe Stradivarius Group average Massimo Pull&Bear Bershka Dutti INDITEX INTERIM THREE MONTHS 2021 33
Slide 34: Concepts
Concepts Remarkable online growth across all concepts Strong performance of Oysho and Stradivarius Optimisation activity in all concepts INDITEX INTERIM THREE MONTHS 2021 34
Slide 35: Outlook
Outlook INDITEX INTERIM THREE MONTHS 2021 35
Slide 36: Outlook
Outlook Global fully integrated Store & Online Strong organic growth. Increased differentiation of the model Strong online sales growth to continue Capital expenditure c€900m annually (2020-22). Digital capex €1 billion for 2020-2022 Sustainability central to the strategy Lower capital i
Slide 37: Dividend
Dividend As announced in March Inditex’s Board of Directors will propose to the Annual General Meeting a dividend of 70 cents per share for fiscal 2020 The dividend will be made up of two equal payments of 35 cents: the first was paid as interim on 3 May 2021 and the final will be made on 2 Nove
Slide 38: Interim Three Months 2021
Interim Three Months 2021 9 June 2021 INDITEX INTERIM THREE MONTHS 2021 38