El Corte Inglés sees 11% profit boost in first half of 2024

What: El Corte Inglés reported a net profit of EUR 203 million for the first half of its 2024-2025 fiscal year, marking an 11% increase compared to the same period last year.

Why it is important: This growth highlights the company's strong performance across all business areas, with notable improvements in profitability, debt reduction, and sales, positioning it well for continued financial stability and expansion.

El Corte Inglés has announced a net profit of EUR 203 million for the first half of its 2024-2025 fiscal year, reflecting an 11% year-on-year growth. The company, led by Marta Álvarez, also achieved a global revenue of EUR 8.041 billion, a 2.3% increase. Recurring net profit surged by 38.4%, reaching €158 million, while EBITDA rose by 12.3% to EUR 520 million. The group attributed this success to improved results across all business areas, including retail and travel, with comparable sales up by 3.6%. Notably, the company reduced its net financial debt by EUR 195 million to EUR 1.933 billion. The retail segment saw a 3.2% rise in comparable sales, with strong performances in fashion and home brands. Additionally, Viajes El Corte Inglés grew its revenue by 6.1%, while the financial arm posted a significant profit increase of 61.7%. The company remains focused on reducing debt and investing in growth initiatives.