The Strategist

Inditex increases half-year net profit by 40%

09/13/2023 - 14:05

One of the biggest apparel retailers in the world, Spain's Industria de Diseno Textil SA (Inditex), saw a 40% increase in net profit and a 13.5% increase in revenue in the first half of its fiscal year 2023 (February to July).

Mike Mozart
Mike Mozart
Net profit for the first half of the year increased from €1.79 billion to €2.51 billion for the company. Revenue grew to €16.85 billion from €14.85 billion a year earlier.

The average revenue forecast made by FactSet's survey of analysts was €16.68 billion.

EBIT increased to €3.16 billion from €2.43 billion and EBITDA grew to €4.66 billion from €4.03 billion. Earnings before interest and taxes (EBIT) rose as well.

Gross profit increased by 14% to €9.8 billion with a profit margin increase of 27 basis points to 58.2%.

The retailer continues to forecast that the gross profit margin will stay around where it is in FY2023. The business announced that it will invest €1.6 billion this year.


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