Inditex: net profit +3.9% to EUR 4.6 billion in the first nine months of the year

On the Madrid market, the share has fallen by 3% since the beginning of the year.

In the third quarter of the current fiscal year alone, growth showed further improvement, with an increase of 8.4% at constant exchange rates. Gross margin increased by 6.2% to EUR 6.1 billion, with the gross margin reaching 62.2% (+79 basis points). Operating expenses increased during the period by 3%, or 187 basis points less than the increase in sales.

Gross operating margin (EBITDA) rose 8.9% to EUR 3.2 billion, while EBIT advanced 11.2% to EUR 2.4 billion. The bottom line saw net profit increase by 9% to EUR 1.8 billion.

Cash generation remains robust: the net cash position at the end of the period amounted to EUR 11.3 billion.

"The Fall/Winter collections were well received by customers. Between 1 November and 1 December 2025, in-store and online sales at constant exchange rates increased by 10.6 per cent compared to the same period in 2024 (+9 per cent between 1 and 24 November 2025)," reads the group's statement.

At current exchange rates, Inditex expects a negative currency impact on sales of about 4% in 2025. For the full year, the group expects a stable gross margin (±50 basis points).

Inditex operates in 214 markets, maintaining a relatively small share in a highly fragmented industry. The retail network optimisation process is ongoing and is expected to continue contributing to further improvements in shop productivity. Annual growth in gross floor space in the period 2025-2026 is expected to be around 5%, with positive net expansion accompanied by strong online sales.

During the year, the company is making investments that enhance operational capabilities and generate efficiencies, which are directly reinvested in the business in order to further strengthen the competitive advantage. Ordinary investments are estimated at EUR 1.8 billion.