Presentación de resultados de Inditex Primer Trimestre 2013


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Presentación de resultados de Inditex Primer Trimestre 2013

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Presentación de resultados de Inditex Primer Trimestre 2013

  1. 1. Interim Three Months 201312 June 2013
  2. 2. DisclaimerThis document is of a purely informative nature and does not constitute an offer to sell, exchange or buy, or thesolicitation of an offer to buy, securities issued by any of the companies mentioned herein.This document contains forward-looking statements. All statements other than statements of historical fact includedherein, including, without limitation, those regarding our financial position, business strategy, management plans andobjectives for future operations are forward-looking statements. Any such forward-looking statements are subject torisk 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 andspending trends, economic, political, regulatory and trade conditions in the markets where the Inditex Group ispresent 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 companyassumes no obligation to publicly revise or update its forward-looking statements in the case of unexpectedchanges, events or circumstances that could affect them. Given the uncertainties of forward-looking statements, wecaution 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’sbusiness, financial conditions and results of operations, see the documents and information communicated by thecompany to the Comisión Nacional del Mercado de Valores (the Spanish Securities Commission).Th t t f thi di l i h ld b t k i t t b ll titiThe contents of this disclaimer should be taken into account by all persons or entities.2
  3. 3. OverviewOverview
  4. 4. Interim 3 Months 2013: OverviewSatisfactory sales growthHigh operational efficiency and cost controlSpace expansion on trackSpace expansion on trackRefurbishment of 25 top flagship stores in 1Q13C i i l b l li ll R i F d A/W 2013Continuing global online rollout: Russian Fed. A/W 2013Global growth opportunities4
  5. 5. Financial SummaryFinancial Summary
  6. 6. Interim 3 Months 2013million € 1Q13 1Q12 % 13/12 2yr CAGRNet sales 3,593 3,416 5% 10%Gross profit 2,140 2,058 4% 11%EBITDA 749 764 -2% 12%EBIT 559 577 -3% 14%Net income 438 432 2% 15%6
  7. 7. Salesmillion € 1Q13 1Q12 % 13/12Sales 3,593 3,416 5%Strong comparable: 15% sales growth in 1Q12Leap year 2012: 1 less trading day in Feb. 2013Currency translation effect7
  8. 8. Gross margin% on sales 1Q13 1Q12 %13/12Gross margin 59.6% 60.2% (67 bp)Gross profit growth of 4% to €2.1 bnSustained commercial policiesSustained commercial policies8
  9. 9. Tight control of operating expensesmillion € 1Q13 1Q12 %13/12Operating expenses 1,389 1,293 7%9
  10. 10. Current accountsmillion € 1Q13 1Q121 627 1 279Inventory 1,627 1,279Receivables 899 677Receivables 899 677Payables (3,639) (3,259)Operating working capital (1,113) (1,303)10
  11. 11. ConceptsConcepts
  12. 12. Performance per conceptGroupaverageZara Other ConceptsaverageZara p12
  13. 13. Performance per conceptGroupaverageZara Other ConceptsaverageZara pSTROYSZHMDP&BBSKUT13average
  14. 14. OutlookOutlook
  15. 15. FY2013: OutlookSpace growth and online launches on trackStore sales in local currencies have increased by 8% from1 May to 7 June 201315
  16. 16. Global growth opportunitiesProfitable expansion of the business remains key priorityM lti t / M lti h lMulticoncept / MultichannelContinous optimisation of retail baseGlobal presence16
  17. 17. Global online salesEurope, US, China, Japan and CanadaP i ll t i ll k tProgressive rollout in all markets17
  18. 18. Zara: Russian Federation online salesStart of Autumn/Winter 201318
  19. 19. Pull&Bear: Launch in GermanyNew image at Berlin’s Tauentzinstrasse19
  20. 20. Massimo Dutti: New HQ & Dist. CentrePalafolls20
  21. 21. Massimo Dutti: Launch in TaiwanTaipei’s 101 Mall21
  22. 22. Bershka: Flagship in BolognaVia dell’Indipendenza22
  23. 23. Stradivarius: Beachwear collections23
  24. 24. Oysho: Free Yoga by OyshoMadrid and Barcelona24
  25. 25. Zara Home: Launch in JapanOsaka Grand Front Yokohama Lalaport25
  26. 26. Uterqüe: BelgiumBrussels Airport26
  27. 27. Enlargement of flagships: LondonZara Brompton Road27
  28. 28. Enlargement of flagships: ParisZara Champs Elysees
  29. 29. Enlargement of flagships: MoscowZara Europeisky Zara Atrium
  30. 30. Enlargement of flagships: SeoulZara M Plaza30
  31. 31. New image: ViennaZara Haas Haus31
  32. 32. New image: MoscowZara Tverskaya32
  33. 33. New image: MadridZara Gran Vía33
  34. 34. Openings: Hong KongZara Metro City Plaza II34
  35. 35. Openings: Jaipur & ChandigarhZara World Trade Park Zara Elante Mall35
  36. 36. Interim Three Months 2013Q&A12 June 2013