Post on 03-Jan-2017
Interim Three Months 2015
Interim Three Months 2015
10 June 2015
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Interim Three Months 2015
Disclaimer
This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer to buy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looking statements. All statements other than statements of historical fact included herein, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations are forward-looking statements. Any such forward-looking statements are subject to risk and uncertainty and thus could differ materially from actual results. Some of these risks include, amongst others, ongoing competitive pressure in the sector, consumer tastes and spending trends, economic, political, regulatory and trade conditions in the markets where the Inditex Group is present or in the countries where the Group’s products are manufactured or distributed. The risks and uncertainties that could affect the forward-looking statements are difficult to predict. The company assumes no obligation to publicly revise or update its forward-looking statements in the case of unexpected changes, events or circumstances that could affect them. Given the uncertainties of forward-looking statements, we caution readers not to place undue reliance on these statements. For a discussion of these and other factors that may affect forward looking statements and the Inditex Group’s business, financial conditions and results of operations, see the documents and information communicated by the company to the Comisión Nacional del Mercado de Valores (the Spanish Securities Commission). The contents of this disclaimer should be taken into account by all persons or entities.
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Interim Three Months 2015 3
Overview
Interim Three Months 2015
Interim Three Months 2015: Overview
Global fully integrated Store & Online sales platform
Satisfactory sales growth
High operational efficiency and cost control
Space growth and online launches on track
Global growth opportunities
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Interim Three Months 2015
Zara: Global flagship in London
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Zara 61 Oxford Street
Interim Three Months 2015
Zara: Global flagship in Beijing
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Zara Xidan Joy City
Interim Three Months 2015
Bershka: New store image
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East Nanjing Road
Bershka Torino
Interim Three Months 2015
Massimo Dutti: Personal Tailoring
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East Nanjing Road
Interim Three Months 2015
Pull&Bear: Shanghai global flagship
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East Nanjing Road
Pull&Bear East Nanjing Road
Interim Three Months 2015
Stradivarius: Mexico flagship
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Zara Madero
Interim Three Months 2015
Oysho: New headquarters and DC
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East Nanjing Road
Interim Three Months 2015
Oysho: New image at Barcelona flagship
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Oysho Paseo de Gracia
Interim Three Months 2015
Zara Home: Milan flagship
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Zara Home Piazza San Babila
Interim Three Months 2015
Zara Home: Japan Online sales
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East Nanjing Road
Interim Three Months 2015
Uterqüe: Madrid Airport
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Interim Three Months 2015
Global fully integrated Store & Online sales platform
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Interim Three Months 2015
Differentiated Business Model
Central inventory position
Distribution to all stores worldwide twice a week
Orders to stores and online customers in 2-48 hours
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Interim Three Months 2015
Global online sales
Central inventory position + Online stockrooms
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Boston
Sep 2011 Los Angeles
May 2014
UK
Sep 2012
Russian Fed
Aug 2013
Tokyo
Oct 2011
Shanghai
Sep 2012
Madrid
Sep 2010
Poland
May 2014
Mexico
Sep 2014
Seoul
Sep 2014
Interim Three Months 2015
Financial Summary
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Interim Three Months 2015
Interim Three Months 2015
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€ million 1Q15 1Q14 15/14
Net Sales 4,374 3,748 17%
Gross profit 2,597 2,208 18%
EBITDA 895 732 22%
EBIT 664 530 25%
Net income 521 406 28%
Strong operating performance
Interim Three Months 2015
Sales
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€ million 1Q15 1Q14 15/14
Sales 4,374 3,748 17%
Strong sales growth
Currency translation
Interim Three Months 2015
Gross Profit
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€ million 1Q15 1Q14 15/14 %
Gross Profit 2,597 2,208 18% 59.4%
Gross profit growth of 18% to €2.6 bn
Sustained commercial policies
Mix effect due to currency in some markets
Interim Three Months 2015
Tight control of operating expenses
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€ million 1Q15 1Q14 15/14
Op. expenses 1,701 1,474 15%
Interim Three Months 2015
Flexible Business Model
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€ million 1Q15 1Q14
Inventory 2,019 1,807
Receivables 864 906
Payables (4,403) (3,907)
Operating working capital (1,520) (1,194)
Interim Three Months 2015
Concepts
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Interim Three Months 2015
Performance per concept
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% Store & Online Sales
Interim Three Months 2015
Performance per concept
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Group average Pull&Bear Massimo
Dutti
Bershka Oysho
Zara
Home Uterque
Stradivarius
Interim Three Months 2015
Outlook
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Interim Three Months 2015
1H2015: Outlook
Space growth on track
Ordinary capital expenditure c. €1.35 billion
Store & Online sales in local currencies have increased +13.5% from 1 February to 7 June 2015
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Interim Three Months 2015
Global Growth Opportunities
Global fully integrated Store & Online sales platform
Strong growth opportunities
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Interim Three Months 2015
Global Online Sales
Europe, US, China, Japan, Russia, Mexico, S. Korea and Canada
2015: Taiwan, Hong Kong and Macau
Progressive rollout in all markets
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Interim Three Months 2015
Openings: Amsterdam
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Zara Neiuwendijk
Interim Three Months 2015
Openings: Brussels
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Zara Toison d’Or
Interim Three Months 2015
Openings: Hamburg
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Zara Mönckebergstraße
Interim Three Months 2015
Openings: Copenhagen
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Zara Vimmelskaftet
Interim Three Months 2015
Openings: Vladivostock
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Zara GUM
Interim Three Months 2015
Openings: Tokyo
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Zara Ikebukuro
Interim Three Months 2015
Openings: Bangkok
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Zara Em Quartier
Interim Three Months 2015
Openings: Urumqui
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Zara Maison Mode Youhao
Interim Three Months 2015
Interim Three Months 2015
10 June2015
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