We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Mar 28, 202411:22pm

El Corte Inglés grows 0.4% in the first semester and raises ebitda a 4.4%

The Spanish group of department stores has reduced its debt in 347 million euros during the first half of the year, situating it at 3.65 billion euros at the end of that period (between March and August).

Nov 14, 2018 — 4:28pm
Mds
Related topics
Save

El Corte Inglés grows 0.4% in the first semester and raises EBITDA a 4.4%

 

 

El Corte Inglés improves profitability in the first half of the year. The Spanish company of department stores has ended the first semester of fiscal 2018 (between March and August) with an increase of 4.4% of gross operating profit (EBITDA), situated at 335 million euros.

The company explains such increase in the improvement of margins of all the group’s departments due to the new strategic actions that are taking place. In the whole of the company, gross margin has increased in twenty basic points, the equivalent of a 1.2% more.

 

Between March and August, El Corte Inglés has registered a volume of business valued in 7.58 billion euros, a 0.4% more than during the same period last year. The weak advancement is excused by the impact of weather in some areas of the retail business.

As per divisions, retail had a revenue of 6.01 billion euros, a 0.6% less than in the first half of 2017. The group’s fashion sales dropped a 1.5%, although the company claims that it can recover from the downturn in the second half of the year, assuring that it is then when the majority of its business takes place.

 

 

 

 

On the other hand, the group, led since last summer by Jesús Nuño de la Rosa, has reduced the debt and the financial expenses. During the first six months of the fiscal year, the net financial debt has descended in 347 million euros, standing at 3.65 billion euros at the end of the period.

 

The company explains that refinancing process carried out during previous months has reduced finance expenses in 18 million euros, reaching the 68 million between March and August.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...