Financial Data and Key Metrics Changes - In 2021, sales in constant currency were 3% higher than pre-COVID 2019 levels, with net income reaching €3.2 billion, up 193% compared to 2020 [8][9][20] - The gross margin reached 57.1%, the highest in six years, with a stable outlook for 2022 expected to be within ±50 basis points [20][42] - Free cash flow accelerated, with net cash at €9.4 billion at year-end, and cash from operations was €5.1 billion [10][24][106] Business Line Data and Key Metrics Changes - Online sales grew 14% compared to 2020, reaching €7.5 billion, accounting for 25.5% of group sales [8][10] - Store sales improved significantly, with a 36% recovery over 2020, and the store optimization program was deemed a success [13][28] - All business concepts achieved profit before tax as a percentage of sales exceeding 15% in 2021 [27] Market Data and Key Metrics Changes - The United States became the largest single market for Inditex after Spain, reflecting strong sales performance [20][93] - Sales performance in 2021 was impacted by COVID-19 restrictions, particularly in the fourth quarter due to the Omicron variant [15][17] - Sales from the Russian Federation and Ukraine contributed approximately 5 percentage points to sales growth in early 2022 [16][62] Company Strategy and Development Direction - Inditex is focused on a fully integrated digital and sustainable business model, emphasizing the importance of online and store integration [5][40] - The company aims to increase the differentiation of its business model to enhance customer experience, with sustainability and digitalization at the core of its strategy [42][43] - Capital expenditure for 2022 is projected at €1.1 billion to drive differentiation, digitalization, and sustainability [45] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model's resilience, noting a strong start to 2022 with sales significantly above 2021 and pre-COVID levels [47][98] - The company remains committed to a predictable and attractive dividend policy, proposing a dividend of €0.93 per share, a 33% increase from 2021 [7][46] - Management acknowledged the challenges posed by the Omicron variant but indicated a return to positive sales patterns as restrictions eased [16][19] Other Important Information - Inditex has made significant progress in sustainability, with 91% of its facilities using renewable energy and 42% of fibers used being more sustainable [32][36] - The company is working with over 145 start-up companies to drive innovation in sustainability [35] Q&A Session Summary Question: Gross margin guidance and cost inflation impact - Management expects gross margin to remain broadly stable, with mid-single-digit price increases planned to offset cost inflation [54][57] Question: Impact of Russia store closures on EBIT - Management indicated that the impact of store closures in Russia would not be material, with a focus on supporting staff [62][88] Question: Confidence in passing through price increases - Management stated that the mid-single-digit price increases have been implemented without negatively impacting sales volume [65][71] Question: Online sales decline in Q4 - Management explained that the decline was due to a high comparative base from the previous year and additional costs from online operations during Omicron [73][74] Question: Update on China and supply chain constraints - Management preferred not to comment on short-term impacts but noted strong trading updates overall [93][98]

Industria de Diseño Textil, S.A. (OTCPK:IDEXY) Q3 2021 Earnings Conference Call December 15, 2021 3:00 AM ET Company Participants Marcos Lopez - Capital Markets Director Pablo Isla - Executive Chairman Oscar Maceiras - Chief Executive Officer Ignacio Fernández - Chief Financial Officer Conference Call Participants Richard Chamberlain - RBC Capital Markets Rebecca McClellan - Banco Santander Anne Critchlow - Societe Generale Cross Asset Research Simon Irwin - Credit Suisse Georgina Johanan - JPMorgan Chase & ...

Financial Performance - Net sales for 9M21 reached €19325 million, a 37% increase compared to €14085 million in 9M20 [28, 33] - Gross profit for 9M21 was €11409 million, a 40% increase compared to €8172 million in 9M20 [28] - Profit Before Tax (PBT) for 9M21 was €3231 million, a 277% increase compared to €857 million in 9M20 [28] - Net income for 9M21 was €2500 million, a 273% increase compared to €671 million in 9M20 [28] - Net cash position reached €9569 million, a 16% increase compared to €8265 million in 9M20 [43] - Gross margin increased to 590% in 9M21 from 580% in 9M20, a rise of 101 bps [35] - Sales in constant currency (CC) grew by 39% in 9M21 [33] - 3Q21 sales in constant currency increased by 21% over 3Q20 and 10% above 3Q19 [13, 34] Strategic Transformation and Online Growth - Online sales in constant currency grew by 28% over 9M20 and 124% over 9M19 [19, 34] - Online sales are expected to reach above 25% of total sales in FY21 [19]

| --- | --- | --- | --- | --- | --- | |--------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | INDITEX | | | | | | | Interim HalfYear Year 2021 15 September 2021 | | | | | | | | | | | | | Disclaimer This document and the information contained herein does not constitute an offer to sell, exchange or buy, or the solicitation of an offer to buy, or any recommendation or advice regarding, any securities issued by the I ...

INDITEX 2020 RESULTS 1 2020 Results 10 March 2021 INDITEX 2020 RESULTS Disclaimer This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer to buy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looking statements. All statements other than statements of historical fact included herein, including, without limitation, those regarding our fi ...

Industria de Diseño Textil, S.A. (OTCPK:IDEXY) Q2 2020 Earnings Conference Call September 16, 2020 3:00 AM ET Company Participants Marcos Lopez - Capital Markets Director Pablo Isla - Executive Chairman Carlos Crespo - CEO Ignacio Fernández - CFO Conference Call Participants Richard Chamberlain - RBC Capital Markets Anne Critchlow - Societé Generale Geoff Lowery - Redburn Partners LLP Rebecca McClellan - Santander Chiara Battistini - J.P. Morgan Warwick Okines - Exane BNP Paribas Aneesha Sherman - AllianceB ...

Interim Half Year 2020 16 September 2020 Interim Half Year 2020 1 INDITEX Disclaimer This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer to buy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looking statements. All statements other than statements of historical fact included herein, including, without limitation, those regarding our ...

Interim Three Months 2020 & Strategy update 10 June 2020 INDITEX Interim Three Months 20201 Disclaimer This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer to buy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looking statements. All statements other than statements of historical fact included herein, including, without limitation, t ...

Industria de Diseño Textil, S.A. (OTCPK:IDEXY) Q1 2020 Results Earnings Conference Call June 10, 2020 3:00 AM ET Company Participants | --- | |-----------------------------------------------------| | | | Marcos Lopez - Capital Markets Director | | Pablo Isla - Executive Chairman Carlos Crespo - CEO | | Ignacio Fernández - CFO | | Conference Call Participants | | Richard Chamberlain - RBC Adam Cochrane - Citi | | Mariana Horn - UBS | | Nicolas Champ - Barclays | | Warwick Okines - Exane | | Anne Critchlow - ...

Financial Data and Key Metrics Changes - In 2019, net sales grew by 8% to €28.3 billion, gross profit increased by 7% to €15.8 billion, and net income rose by 6% to €3.6 billion [17][19] - Like-for-like sales growth was 6.5%, with online sales increasing by 23% to €3.9 billion, accounting for 14% of group sales [9][12] - The company reported a net cash position of €8.1 billion, reflecting a 20% increase [24] Business Line Data and Key Metrics Changes - The integrated business model contributed to strong sales growth, with positive like-for-like sales across all geographic areas [10][19] - Gross margin reached 55.9%, a decrease of 79 basis points, but would have increased to 56.9% excluding the inventory provision [19][20] Market Data and Key Metrics Changes - Online sales were particularly strong, with significant growth in various markets, including new online launches in multiple countries [12] - The impact of COVID-19 led to a temporary decrease in store and online sales by 4.9% from February 1 to March 16, 2020, and a 24.1% decrease from March 1 to March 16, 2020 [15] Company Strategy and Development Direction - The company remains focused on expanding its fully integrated store and online platform, emphasizing a unique customer experience [7][8] - The long-term strategy includes significant global growth opportunities, despite the current challenges posed by the pandemic [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model and long-term potential, despite the immediate impact of COVID-19 [7][27] - The company anticipates a sustainable underlying like-for-like sales growth of 4% to 6% going forward, but refrained from providing full-year guidance for 2020 [27] Other Important Information - An inventory provision of €287 million was made to account for potential impacts of COVID-19 on the net realizable value of inventory [18][20] - The company is reviewing its plans for 2020 due to the uncertain situation, delaying guidance on space growth and like-for-like sales [47] Q&A Session Summary Question: Online business distribution cost and margin structure - Management highlighted strong online sales growth of 23% and emphasized the importance of a fully integrated approach [32][34] Question: Inventory provision assumptions and logistics impact - Management explained the inventory provision was based on current information and emphasized the flexibility of the business model [42][40] Question: Space guidance and online sales in China - Management stated it is too early to provide space growth guidance for 2020 and confirmed that online business continued to operate during store closures in China [48][49] Question: Government support and rent relief discussions - Management preferred not to elaborate on specific market conditions but assured that decisions would consider all stakeholders involved [52] Question: Operating expenses flexibility and employee payments - Management confirmed a flexible operating expense structure but refrained from discussing specific percentages at this time [57]