📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Inditex earns 10.8% more, to propose a dividend of EUR 1.54 per share

Published 05/06/2024, 12:04
© Reuters

Inditex (BME:ITX) (OTC:IDEXY) presented its first fiscal quarter results this Wednesday before the market opened. The group achieved a net profit of EUR 1.294 billion, 10.8% more than in the same period of 2023.

How to know when to invest in Inditex now? Don’t hesitate! Try InvestingPro! Subscribe HERE AND NOW and get almost 40% off for a limited time on their 1-year plan!

According to the statement, in Q1 2024 Inditex continued its strong operational performance, based on the creativity of its teams and the successful execution of its integrated store and online business model.

Sales grew by 7.1% to EUR 8.150B, showing very satisfactory progress. At constant exchange rates, sales growth was 10.6%.

The gross margin increased by 7.3% to EUR 4.940B, reaching 60.6% (+13 basis points compared to Q1 2023).

All expense lines have evolved very favorably. Operating expenses grew by 6.4%, below sales growth.

Operating profit (EBITDA) increased by 8% to EUR 2.370B.

EBIT grew by 10.3%, reaching EUR 1.636B, and profit before tax grew by 11.1%, reaching EUR 1.672B.

Net profit increased by 10.8% to EUR 1.294B.

Due to the strong operational performance, cash generation has grown significantly.

The Board of Directors of Inditex will propose to the General Shareholders' Meeting the approval of a dividend of 1.54 euros per share charged to the 2023 results. The dividend consists of two equal payments of 0.77 euros per share: the first was paid on May 2, 2024, and the second will be paid on November 4, 2024.

How to continue taking advantage of market opportunities? Take advantage HERE AND NOW of the opportunity to get the annual InvestingPro plan for less than 9 euros per month. Use the code INVESTINGPRO1 and get a 40% discount on your 1-year subscription. Less than the cost of a Netflix (NASDAQ:NFLX) subscription! (And you get more value for your investments).

With it, you will get:

  • ProPicks: stock portfolios managed by a mix of artificial intelligence and human expertise, with proven performance.
  • ProTips: digestible information to simplify complex financial data into a few words.
  • Fair Value and Health Score: two synthetic indicators based on financial data that provide an immediate view of each stock's potential and risk.
  • Advanced stock screener: Search for the best stocks based on your expectations, considering hundreds of metrics and financial indicators.
  • Historical financial data for thousands of stocks: So that fundamental analysis professionals can look for all the details.
  • And many other services, not to mention those we plan to add soon!

Act fast and join the investment revolution! Get your OFFER HERE!

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.