Big figures

THE El Corte Ingles Group closed the 2022 financial year with global revenues of €15.3 billion - up 22.5% compared to the previous year with net profits rising seven-fold to €870 million.

The group says the results are down to the way it has developed its business, cut costs, and introduced management improvements which has allowed it to consolidate growth despite customers having to endure higher inflation and interest rates.

“The solid financial position together with a strong recovery in profitability will allow the group to undertake new projects in the future,” an El Corte Ingles statement said.

The main growth driver has been the retail side of the business, which achieved sales of €12.2 billion representing a growth of 7.8% compared to the previous year with fashion doing well as sales went up by 16.3%.