Net ope­ra­ting profit in­creased 24.3%

Inditex Profits Up 32%, Earnings For First 9 Months Reach €4,102 Million

Inditex shares holding meeting 2022.
Inditex shares holding meeting 2022.

Inditex (ITX) re­ported its re­sults for the first nine months of the fiscal year (9M2023), co­ve­ring the pe­riod from February to October: Net sales rose 11.1% yea­r-o­n-­year (+14.9% at cons­tant ex­change ra­tes) in 9M2023 to €25,609 mi­llion. ITX high­lighted the sa­tis­fac­tory evo­lu­tion of its on­line shop re­ve­nue, which was po­si­tive in all geo­grap­hies and in all for­mats.

Gross margin rebounded at a faster pace than sales, 12.3% year-on-year to €15,203 million. In terms of sales, gross margin stood at 59.4% compared to 58.7% in 9M2022.

The company’s net operating profit (EBIT) increased 24.3% year-on-year between February and October to €5,192 million and attributable net profit closed October at €4,102 million, a 32.5% year-on-year improvement.

It also noted that its net cash increased 15% over 9M2022 to EUR 11.48 billion.

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