Shares in Zara Owner Inditex Hit Record Highs

Its
second
earnings
report
under
chair
Marta
Ortega,
daughter
of
chief
executive
Óscar
García
Maceiras,
also
saw
record
sales
of
£30.74
billion,
up
10.4%
on
2022
levels. 

Operating
earnings
before
interest,
tax,
depreciation,
and
amortisation
(EBITDA)
also
grew
by
13.9%
to
£84.23
billion,
while
net
operating
income
grew
by
23.4%
to
£58.22
billion.  

Inditex
said
sales
had
a
“very
satisfactory”
evolution
in
both
physical
and
online
stores,
while
it
was
also
bullish
on
the
geographical
distribution
of
sales
strength.

“Inditex’s
performance
in
2023
has
been
excellent,”
Maceiras
said.

“Our
teams
have
been
able
to
seize
opportunities
to
continue
to
grow
profitably.
We
are
investing
to
drive
future
growth
and
continue
to
offer
attractive
shareholder
remuneration.”

As
a
result
of
the
strong
earnings
statement,
the
board
of
directors
will
now
propose
a
dividend
increase
of
28%
for
2023,
to
£1.32
per
share,
comprising
an
ordinary
dividend
of
89p
and
an
extraordinary
dividend
of
0.43p
per
share. 

The
company
estimates
ordinary
investments
of
around
£1.5
billion
will
be
made
in
2024.

These
will
be
dedicated
to
the
optimisation
of
its
commercial
spaces,
its
technological
integration
and
the
improvement
of
its
online
platforms. 

It
will
also
undertake
an
extraordinary
two-year
investment
program
focused
on
the
expansion
of
its
logistics
capacity,
allocating
over
£769
million
in
both
2024
and
2025. 

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