Inditex Group first-half net sales up 17%

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Cecilia Horn
1 years ago
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1 16 September 2015 FIRST-HALF 2015 RESULTS Inditex Group first-half net sales up 17% Net sales totalled 9.42 billion, while net profit rose 26% year-on-year to 1.16 billion In the past twelve months, Inditex has added more than 10,000 new jobs worldwide, one in four of which were in Spain First-half like-for-like sales growth was 7% Inditex opened new stores in 35 markets during the first six months of the year bringing its total store count across its 88 markets to 6,777 Zara has just launched online sales in Hong Kong, Macau and Taiwan; the current number of markets in which the Group sells online is 28 Furthermore, Oysho, Stradivarius, Pull&Bear and Massimo Dutti have all recently opened their online platforms in China Store and online sales in local currencies have increased by 16% from 1 August to 10 September 2015 Inditex Group revenue rose by 17% in the first half of 2015 (1 February - 31 July) to 9.42 billion, underpinned by growth across all its geographical markets. Firsthalf net profit stood at 1.16 billion, marking growth of 26% year-on-year. Like-forlike sales growth was 7%, on top of the 4.5% growth in the first half of 2014.

2 The Group continued to create employment at a healthy pace during the first six months of the year, generating more than 10,000 new jobs in the last 12 months. The Group had 141,192 employees globally at the end of the first half. Of the new jobs created, 2,532 were in various headquarter departments and logistics platforms in Spain due to the investments to support the Group s international growth. Key financial indicators (1H15) ( m) 1H15 1H14 15/14 Net sales 9,421 8,085 17% Gross profit Gross margin 5, % 4, % 17% EBITDA 1,970 1,617 22% EBIT 1,489 1,194 25% Net profit 1, % Zara store in Vladivostok (Russian Federation) 2

3 The new Zara flagship store on Avenue de la Toison d Or, Brussels (Belgium) Growth across all regions All of the Group's formats expanded their geographic reach, adding 94 new stores in the first half across 35 markets to bring the total count to 6,777. The Zara and View of the inside of the refurbished Massimo Dutti store in Paris's La Madeleine district 3

4 Zara Home brands accounted for the highest number of new openings, with 24 and 25 respectively. All of the geographical regions saw new store openings over the first half. Expansion of the various format's flagship stores played a very significant role in the growth in floor space. The most noteworthy store openings in the latest quarter included the Zara stores in Brussels (Avenue de la Toison d Or), Amsterdam (Nieuwenduk) and Vladivostok (Svetlanskaya) in Russia; as well as the Pull&Bear The Oysho flagship store on Barcelona's Paseo de Gràcia store in Switzerland's Lausanne (Place du Molard), the brand's maiden store in this market; and the new Massimo Dutti in Baden-Baden (Lange Strasse). Zara Home opened new stores in central locations in two important capital cities: Berlin (Kurfurstendamm) and Geneva (rue de la Croix d Or), the latter marking the home fashion brand s foray into the Swiss market. Meanwhile, Oysho stepped up its presence on Barcelona's Paseo de Gràcia with a new three-storey flagship store. Also during the second quarter, Zara completed store extensions and refurbishments to introduce the latest store image at stores in highly-strategic locations such as Hamburg (Mönckbergstrasse), London (Covent Garden) and Mexico City (Perisur). It is also worth highlighting the refurbishment of existing Massimo Dutti flagship stores to introduce the new store image in cities such as Paris (rue Royale, La Madeleine district) and Zurich (Bahnhofstrasse). The various formats also opened stores along high streets and in first-class shopping centres in Sydney, Mexico City, Bucharest, Marseilles, Moscow and Hong Kong. 4

5 Expansion of the online sales platform The Group currently sells its products online in a total of 28 markets. In September, went live in Hong Kong, Macau and Taiwan, while Oysho, Massimo Dutti, Stradivarius and Pull&Bear all launched their online sales platforms in China. Austria Belgium Canada China Denmark Finland France Germany Greece Ireland Italy Japan Luxembourg Mexico Monaco Netherlands Norway Poland Portugal Romania Russia South Korea Spain Sweden Switzerland Taiwan United Kingdom United States Global online sales platform (as of 16 September 2015; in bold the online stores that went live in 2015) Zara, Massimo Dutti, Zara Home Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho Zara, Pull&Bear, Massimo Dutti, Zara Home, Uterqüe Zara Home Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Zara Home, Uterqüe Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home Zara, Zara Home Zara, Pull&Bear, Massimo Dutti, Stradivarius, Oysho, Zara Home, Uterqüe Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home Zara, Pull&Bear, Masimo Dutti, Zara Home, Uterqüe Zara, Massimo Dutti, Zara Home Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius Zara Zara, Pull&Bear, Massimo Dutti, Oysho, Zara Home, Uterqüe Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Zara Home, Uterqüe Zara Zara, Massimo Dutti, Zara Home 5

6 2H15 trading update Store and online sales in local currencies have increased by 16% from 1 August to 10 September. As ratified at the Annual General Meeting held on 14 July, the Company will pay a final ordinary and bonus dividend totalling 0.26 per share (before tax) on Tuesday 3 November 2015, thereby completing the 0.52 per share dividend declared against 2014 earnings. Zara Home's maiden store in Switzerland on rue de la Croix d Or (Geneva). For further information: INDITEX Communication and Institutional Relations

Sales rise by 11% in local currencies in 1H14

17 September 2014 INDITEX FIRST-HALF 2014 RESULTS Sales rise by 11% in local currencies in 1H14 Taking into account currency fluctuations, net sales rose 6% to 8,085 million, while net profit was 928 million