Inditex Group H1 net sales increased 7%Christian Fernsby ▼ | September 11, 2019
Inditex Group net sales increased 7% in the first half of 2019 (1 February - 31 July), topping €12.82 billion for the first time.
Inditex Group In local currencies, sales growth was 7%
Momentum in like-for-like sales growth remained strong, at 5%, underpinned growth across all brands and regions, stores and online.
The solid business performance drove first-half net profit to €1.55 billion, reflecting year-on-year growth of 10% (1H18: €1.41 billion).
This figure includes the impact of the new lease accounting standard, IFRS 16, without which profit growth would have been 7%.
Similarly, EBITDA and EBIT, which registered year-onyear growth of 47% and 14%, respectively, would have increased 8% and 7% in the absence of the new standard.
The group maintained its strong cash generation: the net cash position increased 13% to a record €6.73 billion. ■