Industria de Diseño Textil, S.A. (IDEXF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Buenos dias a todos. Good morning to everybody. We would like to extend a warm welcome to all those attending the presentation of Inditex's results for the interim three months 2025. I'm James O'Shaughnessy, Investor Relations. This presentation will be hosted by Inditex's CEO, Oscar García-Macedas, as well as by our new Chief Financial Officer, Andrés Sánchez, and Gorka García-Tapia, Director of Investor Relations. After the presentation, there will be a question and answer session starting with the questions received on the phone, followed by those received via the webcast platform. Before we start, we'll take the disclaimer as read. Over to you, Oscar. Good morning and welcome to our first quarter 2025 results presentation. First, I would like to welcome Andrés, who will be heading up the finance function as our CFO. Andrés has been with the company in the finance department for over 15 years. In the first three months of 2025, Inditex has maintained a solid operational performance led by the creativity of our teams and the strong execution of the fully integrated business model. This performance was driven by the four key pillars that we have highlighted to you in the past. Our strong product offering, a unique customer experience, a keen focus on sustainability, and the talent and commitment of our people. These are the principal factors driving our ability to differentiate ourselves so consistently. Our Spring Summer collections have been well received by customers. The sales in the period grew 1.5%. Sales in custom currency increased by 4.2%. Adjusted for the impact of the lead year, the sales growth was 5.3%. The business model continues to perform effectively, driving stable gross margins supported by disciplined cost management. On the bottom line, net inco...