Full Year 2024 Industria de Diseno Textil SA Earnings Call Transcript
Key Points
- Industria De Diseno Textil SA (IDEXF) reported a strong sales growth of 7.5% for 2024, demonstrating consistent demand for its collections.
- Net income increased by 9% to EUR5.9 billion, showcasing solid financial performance.
- The company plans to propose a 9% dividend increase for 2024, reflecting confidence in its financial health.
- The fully integrated Store&Online model has been a key driver of recent strong performance, with Store&Online sales in constant currency increasing 7% in the last commercial week.
- The company has a strong commitment to sustainability, with 73% of textile fibers used in manufacturing being lower-impact fibers by the end of 2024, aiming for 100% by 2030.
- The Americas region experienced an underlying slowdown excluding FX impacts, indicating potential challenges in this market.
- The company expects a minus 1% top line FX impact in 2025, which could affect revenue growth.
- Operating expenses grew 126 basis points below sales growth, indicating a need for continued cost management.
- Inventory levels increased by 12% compared to the previous year, which may suggest potential overstocking issues.
- The company faces challenges related to changing tariff regimes, particularly in the US market, which could impact profitability.
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Good morning to everybody. We'd like to thank you all for attending Inditex's full year 2024 results presentation. My name is James O'Shaughnessy, Investor Relations. This presentation will be hosted by our CEO, Oscar Garcia Maceiras; as well as our CFO, Ignacio Fernández.
I'd like to welcome our new Director of Investor Relations, Gorka GarcÃÂa-Tapia who many of you will get to meet over the next few weeks.
As per usual, this presentation will be followed by a question-and-answer session, which will commence with telephone questions and will then be followed by any questions from the webcast platform. Let's take this disclaimer on your screens right now, as read.
And now over to you, Oscar.
Good morning, and welcome to our full year 2024 results presentation. I am happy to see so many people joining us today. In 2024, Inditex saw a very
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