Inditex SA (IDEXF.PK), owner of Zara, Wednesday reported income before taxes of 7.577 billion euros for the full year, higher than 6.870 billion euros in the previous year, mainly driven by increase in sales.
Operating income rose to 7.554 billion euros from 6.809 billion euros a year ago.
Net income increased to 5.866 billion euros or 1.884 euros per share from 5.381 billion euros or 1.729 euros per share last year.
EBITDA, or earnings before interest, taxes, depreciation, and amortization was 10.7 million euros, up 8.9 percent year-on-year.
Sales for the year grew 7.5 percent to 38.632 billion euros from 35.947 billion euros in the prior year. Store sales increased 5.9 percent, while online sales grew 12 percent.
The company's Board plans to propose a dividend of 1.68 euros per share for fiscal 2024, up 9 percent from last year. The dividend, which includes an ordinary dividend of 1.13 euros per share and a bonus dividend of 0.55 euros per share, will be paid in two equal payments of 0.84 euros per share on May 2 and November 3, 2025.
Additionally, the company said its plan to expand logistics capacities in 2024 and 2025 by allocating 900 million euros each year is on track.
Inditex also noted that at current exchange rates, it expects 1 percent currency impact on sales in 2025.
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