Inditex, the Spanish clothing company with brands such as Zara, Bershka e Pull & Bear, ended 2023 with a Net income of 5,4 billion euros, recording an increase of 30,3%. L'Ebitda rose by 13,9% to 9,9 billion euros, while theEBIT increased to 23,4%, reaching 6,8 billion euros. The turnover it grew by 10,4% compared to the previous year, reaching 35,9 billion euros. There net cash position it increased by 13,3%, reaching 11,4 billion euros.
Dividend increased to 1,54 euros per share
The board of directors will propose to the Shareholders' Meeting a dividend increase by 28% compared to the previous year, bringing it to € 1,54 per share. This dividend will be made up of 1,04 euros of ordinary coupon and 0,50 euros of bonus.
In 2024 Inditex expects ordinary capital spending of approximately 1,8 billion euros, mainly aimed at optimizing the commercial space, technological integration and strengthening online platforms. Furthermore, a extraordinary two-year investment program for logistics expansion, with a budget of 900 million euros per year in the financial periods 2024 and 2025, aimed at increasing the company's logistics capabilities.
Zara and other brands: store sales are growing
In 2023, the Store sales grew by 7,9%, thanks to a greater influx of customers and an increase in store productivity. The ongoing program of store optimization and digitalisation played a key role in this result. Despite a 2% reduction in the number of stores compared to 2022, the highest level of sales was achieved thanks to a 2% increase in overall retail space.
2024 started positively for the group of brands Zara, Bershka, Pull & Bear and Massimo Dutti, with avery positive reception of the spring-summer collections, as stated in the company note. Sales in stores and online, taking into account the calendar effect of the leap year with an extra trading day in February, increased by 11% between February 1 and March 11, 2024 compared to the same period in 2023. Positively all geographical areas.
“In 2023 Inditex recorded excellent results. Our teams have seized opportunities to continue to grow profitably. We are investing to drive future growth and continue to offer an attractive remuneration to shareholders" stated the CEO, Oscar Garcia Maceiras.
