The English Court recorded a net profit of 203 million euros during the first half of its fiscal year 2024-2025 (from March 1 to August 31), which represents an increase of 11% compared to the same period of the previous year, while reaching a global revenue volume of 8,041 million euros, 2.3% more.
The recurring net profit, for its part, stood at 158 million euros, 38.4% more than in the same period of the previous year, while the gross operating result (Ebitda) was 520 million euros, a 12.3% higher, according to The group reported this Tuesday.
The company chaired by Marta Álvarez has highlighted the “notable improvement” in results in all its business areas and has added that this positive evolution has allowed the group to register double-digit growth in the main figures.
Likewise, he stressed that “the strength” of El Corte Inglés is also reflected in the decrease in net financial debt, which stands at 1,933 million euros, which is 1.7 times the Ebitda. In absolute terms, the debt has been reduced by 195 million euros since August 2023.
The company has highlighted that the half-year has been marked by a “solid” performance, which has generated revenue growth of 3.6% in comparable sales terms, a “significant” improvement in profitability, and a “remarkable” deleveraging.
“The strength of the balance sheet and the generation of cash flows achieved in these first six months allow the group to continue reducing debt, while maintaining investments in different company growth initiatives,” he stressed.
The business of retail of El Corte Inglés achieved an increase of 3.2% in purchasable terms (LfL), with a “good performance” of margins, especially in its own brand of home and fashion, as highlighted by the company, which added that they also had positive performance in sales from external brands, both national and international.
In this sense, the fashion collections of the spring and summer campaign have had, according to the group, a “wide reception” by El Corte Inglés customers, both in store and in on-line.
On the other hand, Viajes El Corte Inglés sales grew by 6.1%. The company has stressed that it is consolidating its leadership position in the vacation segment, whose revenues increased by 10.3%.
With regard to financial businesses, the company has highlighted that they are establishing themselves in their respective sectors of activity, reinforcing their offer of products that are “always customer-focused.”
Thus, Seguros El Corte Inglés grew its revenue by 6.1%, to 137 million euros, while Financiera El Corte Inglés recorded an increase in its revenue of 6.3% and increased its net profit by 61.7%.
Finally, the company has highlighted that the commercial campaigns launched this autumn consolidate the positive trend registered in the first half of the year.
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