Industria de Diseño Textil, S.A. (IDEXF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to everyone today. A warm welcome to all those taking part in our half-year 2025 results presentation. My name is James O'Shaughnessy, Investor Relations. The presentation today will be led by Inditex's CEO, Oscar García-Materas, our CFO, Andrés Sánchez, and Gorka García-Tapia, Director of Investor Relations. Following the presentation, we will have a Q&A session, commencing with the questions received over the phone. followed by questions received on the webcast platform. Let's take the disclaimer as read. Over to you, Oscar. Good morning. Welcome to our sales presentation. It's good to be with you all today. In the first half of 2025, we have again achieved a solid performance with satisfactory sales in a complex market environment and keeping strong levels of profitability. The phishing execution accomplished by our teams demonstrates the strength of Inditex's business model. This business model continues to be driven by our unique fashion proposition, an increasingly optimized customer experience, our focus on sustainability, and the quality and commitment of our teams. These factors continue to enhance our competitive differentiation. Our Spring-Summer collections have been well received by customers. We had a satisfactory sales growth of 1.6%. Sales in custom currency increased by 5.1%. It's evident from the figures we are providing this morning that the execution of the business model has also been strong, reflected in the good gross margin performance and by discipline cost control. The bottom line, net income increased 0.8% to 2.8 billion euros. This satisfactory performance has continued going into the second half of the year. Store and online sales in constant currency between the 1st of August and the 8th of September grew 9%. Our diversified...