// Inditex posts strong growth following strength of its business model
// The Spanish fashion group, which also owns Pull & Bear and Bershka, reported EBITDA up 20% to €8.6bn
Zara owner Inditex has posted a strong annual profit growth thanks to its business model and execution.
The Spanish fashion group, which also owns Pull & Bear and Bershka, reported EBITDA up 20% to €8.6bn.
In-store and online sales reached €32.6 billion, 18% more than the €27.71 billion posted last year and 15% higher than in 2019, before the pandemic hit. The company net income soared to €4.1 billion.
Inditex revenues were in line with what analysts expected.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Inditex CEO, Oscar García Maceiras said: “The excellent results of 2022 show the strength of our business model and its ability to move towards the next level of development in which our fashion proposition, the experience of our customers, our commitment to sustainability and the talent of our teams will continue to be key.”
Given the “strong execution of the business model”, lease adjusted funds from operations grew 18%. The net cash position grew 8% to €10 billion.
Inditex said it will continue to focus on four key areas: “A unique product proposition, enhancing the customer experience, sustainability and the talent and commitment of our people”.
