With annual profits up, El Corte Inglés offers 125-million-euro dividend to shareholders
President, Marta Álvarez, said it is 'one of the most promising periods' for the Spanish department store group
Lucía Palacios
Madrid
Friday, 28 July 2023, 19:20
El Corte Inglés recorded an eye-watering dividend of 125 million euros to be shared between its shareholders in 2022.
"We are living through one of the most promising periods in our history and we have an exciting future ahead of us," president of El Corte Inglés, Marta Álvarez, said during the general shareholders' meeting last Friday 21, where it was revealed the company had recorded a 125-million-euro dividend, 66% more than the previous year.
El Corte Inglés closed the 2022 financial year (as of February 28, 2023) with an overall revenue of 15,327 million euros, an increase of 22.5% over the previous year, while gross operating profit (Ebitda) reached 951.4 million euros, 18.3% more than the previous year.
The group's recurring net profit reached 207 million euros, the highest in recent years, while total net profit stood at 870 million euros, the highest figure achieved by the company so far.
More than 1.5 billion visits
The main driver of growth was the retail business, which achieved sales of 12,213 million euros, up 7.8% on the previous year. Fashion led the sales, as well as Viajes El Corte Inglés, which hit 2,935 million euros in sales.
Álvarez also pointed out the large number of visitors to the Group's stores: "2022 was the year in which our stores were once again full of customers; we received more than 1.5 billion visits between our physical stores, websites and apps."
"Our stores excite and surprise. This year, we have invested heavily in customer experience with major refurbishments at the Castellana, Serrano, Preciados and Pozuelo centers in Madrid; Bilbao; Girona; Málaga and Marbella, and Badajoz, among others," she added.
