“We are living through one of the most promising periods in our history and we have an exciting future ahead of us.” With these words, the president of El Corte Inglés, Marta Álvarez, showed the confidence with which she faces her company in the coming years after a record-breaking 2022. The speech was delivered during the General Shareholders’ Meeting that was held this Friday and in which the annual accounts were approved, the distribution of a dividend of 125 million euros, 66% more than the previous year, and three directors were ratified.
The ratified members of the Board of Directors are Paloma García Peña, from the Mancor Portfolio; Carlota Areces, from Corporación Ceslar; and Fernando Becker, independent director.
Álvarez reminded the shareholders that the company’s 2022 financial year was a year of growth for the group, which was reflected in all economic magnitudes and, especially, in obtaining positive results in all businesses.
El Corte Inglés closed the 2022 financial year (as of February 28, 2023) with a global volume of revenue of 15,327 million euros, which represents an increase of 22.5% compared to the previous year, while the gross operating result (Ebitda) reached 951.4 million euros, 18.3% more than the previous year.
The group’s recurring net profit reached 207 million euros, the highest in recent years, while total net profit stood at 870 million euros, the highest figure achieved by the company to date, thanks to extraordinary items.
More than 1,500 million visits
The main driver of growth was the retail business, which achieved sales of 12,213 million euros, which represents a growth of 7.8% compared to the previous year, and with a special role in the fashion area. Also noteworthy is the global volume of revenue achieved by Viajes El Corte Inglés, which stood at 2,935 million euros, driven mainly by demand from the vacation segment.
In addition to the growth obtained by all the Group’s business areas, the president highlighted the large number of people who have come to the Group’s establishments: «2022 has been the year in which our stores have once again filled with customers; We have received more than 1,500 million visits between our physical stores, websites and apps ». And she added: «Our stores excite and surprise. This year, we have invested significantly in customer experience» with major renovations at the Castellana, Serrano, Preciados and Pozuelo centers in Madrid; Bilbao; Girona; Malaga and Marbella, and Badajoz, among others. Added to these are the renovations that have already begun in La Coruña, Jerez, Talavera de la Reina, Plaza del Duque in Seville, and Goya in Madrid, in addition to the opening of several Unit brand stores. “We want to be at the forefront of world trade, due to our attractiveness, our novelty or our ability to seduce,” he added.
Regarding digital stores, Marta Álvarez highlighted the redesign of the home page of El Corte Inglés and the launch of “our fashion store, where own brands can express their uniqueness”.
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