The English court recorded a net profit of 203 million euros during the first half of its financial year 2024-2025 (from March 1 to August 31), which represents an increase 11% compared to the same period of the previous year, when it reached a overall turnover of 8,041 million eurosA 23% further away.
He recurring net profit of El Corte Inglés was placed in 158 million eurosA 38.4% more than at the same period of the previous year. For his part, the gross operating profit (Ebitda) was from 520 million eurosA 12.3% on the rise, as the group reported this Tuesday.
The company, chaired by Marta Alvarezhighlighted the “notable improvement” in results in all its areas of activity and added that this positive development enabled the group to record double-digit growth in the main figures.
Likewise, he emphasized that “the strength” of The English court is also reflected in the decrease in net financial debtwhich is located in 1,933 million eurosrepresentative 1.7 times higher than Ebitda. In absolute terms, the debt was reduced by 195 million euros since August 2023.
The company highlighted that the half-year was marked by a “solid” performance, generating a turnover growth of 3.6% in terms of comparable sales, a “significant” improvement profitability and “notable” debt reduction.
“The solidity of the balance sheet and the generation of cash flows achieved during these first six months allow the group to continue its development debt reductionwhile retaining the investments in various company growth initiatives,” he noted.
COMMERCE ACTIVITY UP 3.2% ON LIKE TERMS
The affair of Retail El Corte Inglés obtained an increase of 3.2% on a comparable basis (LfL)with “good behavior” of margins, particularly in own home and fashion brandas highlighted by the company, which added that the brand’s external sales, both national and international, also recorded a positive performance.
In this sense, the fashion collections of the spring-summer campaign received, according to the group, a “wide reception” from customers of The English courtin store and online.
On the other hand, sales of Tourist attractions El Corte Inglés they grew up 6.1%. The company highlighted that it is consolidating its leading position in the vacation segmentwhose income increased by 10.3%.
Regarding financial companies, the company highlighted that they are establishing themselves in their respective sectors, strengthening their “always customer-oriented” product offering.
This way, El Corte Inglés Insurance increased its turnover 6.1%reaching the 137 million euroswhile Finance · El Corte Inglés recorded an increase in revenue of 6.3% and increased the net profit of 61.7%.
Finally, the company emphasized that the commercial campaigns launched this fall consolidate the positive trend recorded in the first half of the year.
