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Breaking more records
INDITEX earned a record €1.2 billion during the first quarter of the company’s fiscal year, 54 per cent more than during the same period in 2022.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 14 per cent to €2.2 billion. Earnings before interest and taxes rose 43 per cent to €1.5 billion, while profits before tax rose by 52 per cent to €1.5 billion.
The Galicia based clothing giant, which owns the Zara, Massimo Dutti and Bershka labels amongst others, pointed out that this year’s results were especially buoyant, bearing in mind that last year’s first quarter figures had included a €216 million provision for Russia and Ukraine.
“The Spring Summer collections continue to be very well received by our customers,” the Inditex interim report revealed. “Store and online sales between May 1 and June 4 have also increased by 16 per cent compared with the same two months in 2022.”
The Board of Directors will propose a dividend of €1.20 per share for the 2022 fiscal year at
A MULTINATIONAL car manufacturer intends to build a €4.5 billion gigafactory in the Valencian Community. The news was initially reported in the regional daily LevanteEMV and subsequently the national publication, Cinco Dias.
The regional government has signed a confidentiality agreement with the company in question while negotiations are underway. Although no name has been revealed, Tesla was mentioned by sources close to the process. Should the project materialise, investment would top Volkswagen’s €3 billion plant producing battery cells for electric vehicles in Sagunto (Castellon), although this could increase to €4.5 billion by 2026 should annual production capacity increase from 40 gigawatts per hour to 60.
Pensions result
the Annual General Meeting to be held next July.
The first interim payment of €0.60 per share was made on May 2 this year and the final dividend payment will be paid on November 2, Inditex announced.
