Inditex drives the Ibex to a new historical high after improving its results in the first nine months of its fiscal year

The markets have rewarded the results of Inditex known this Wednesday, in which the textile giant has reported a record profit of 4,622 million euros in the accumulated of the first nine months of its fiscal year and an increase in sales of 2.7% to 28,171 million euros. This better performance has been applauded by investors, through a strong rise in the stock on the Ibex 35. Specifically, the company’s shares registered after the first hour of the session increases greater than 8% and It is close to 53 euros per share.

Inditex’s good performance in this session has taken the Ibex35 to a new historical ceiling early in the morning, while registering a rise of around a point and a half percentage, standing around 16,711 points thanks to the company founded by Amancio Ortega. It also helps that some banking stocks such as Sabadell (1.95%) or Caixabank (0.47%) maintain a positive performance alongside notable stocks such as Indra (1.52%), ACS (1.52%), Naturgy (+1.30%) or Cellnex (2.37%), among others.

Inditex picks up speed

The textile group, which owns well-known brands such as Zara, Massimo Dutti, Stradivarius and Pull & Bear, has also reported that the profit before interest, taxes, depreciation and amortization (EBITDA) has increased by 4.2% and reached 8,303 million euros in the same period. For its part, sales in the first nine months of its fiscal year (from February to October) have grown by 2.7%, up to 28,171 million of euros with an increase at constant exchange rate of 6.2%. Only in the third quarter, from August to October, the textile group has accelerated and achieved an increase of 4.9% to 9,814 million of euros with an increase at constant exchange rate of 8.4%.

This supposes a clear improvement in the performance of the textile giant compared to the beginning of the year and above analysts’ expectations, although the growth is still far from the figures from a year ago when the increase in profit was 8.5% and the increase in turnover was 7.1%. All this, in a period in which it has made new openings in 39 markets, mainly of the Zara brand, in United States (Las Vegas, North Carolina), Japan (Osaka) Germany (Hamburg), Netherlands (Maastricht…), Italy (Rome) or Spain (Zara Diagonal in Barcelona).