El Corte Inglés has closed the first half of the 2024-2025 fiscal year (from March 1 to August 31) with revenues of 8,041 million euros and a notable improvement in results in all its business areas, as reported today by the company in a statement.
The good results have allowed the company to reduce net financial debt, which currently 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.
This positive evolution is witnessed in the results of main magnitudes such as Ebitda, which reached 520 million euros (12.3% more in year-on-year terms); net profit, which stood at 203 million (+11%); and the recurring net profit, which was 158 million, (38.4%). This last figure is very important, since the recurring net profit is that which excludes extraordinary results and some atypical items from the income statement, indicating, in this case, a good health of the shopping center giant’s business.
In the statement, the company highlights the “good performance of margins, especially in its own brand of home and fashion.” “Sales from external brands, both national and international, also had a positive performance,” the note continues.
Regarding Viajes El Corte Inglés’ sales, they grew by 6.1%, consolidating the company’s leadership position in the vacation segment, whose income increased by 10.3%. In turn, Seguros El Corte Inglés grew its income by 6.1%, to 137 million euros, and Financiera El Corte Inglés recorded an increase in its income of 6.3%, which brought the net profit to a sensational increase of 61.7%.
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