Inditex Announces 2025 Financial Results
Owner of brands such as Zara, Zara Home, Massimo Dutti, Pull&Bear, Bershka, Oysho, and Lefties, Inditex has announced its financial results for 2025. The company maintained its strong operational performance throughout the year. Its integrated business model—driven by innovation, diversification, and flexibility—continues to support steady sales growth and sustainable profitability.
Inditex CEO Óscar García Maceiras stated: “These results reflect our teams’ ability to meet the expectations of millions of customers who trust our eight commercial formats every day. Building connections with our customers, understanding their needs, and delivering a differentiated experience with the best products form the foundation of our long-term growth outlook.”
Collections were well received by customers. Sales increased by 3.2% to reach €39.9 billion, showing a very satisfactory performance across both physical stores and online channels. Sales were positive across all brands and in all geographic regions on a constant currency basis. On this basis, sales grew by 7.0%.
Execution of the business model remained very strong. Gross profit increased by 3.9% to €23.2 billion, with the gross margin reaching 58.3%. Operating expenses were tightly controlled, rising by 2.8%, remaining below sales growth.
EBITDA rose by 5.0% to €11.3 billion, while EBIT increased by 5.9% to €8.0 billion. Profit before tax grew by 5.8% to €8.0 billion. Net profit increased by 6.0% to €6.2 billion, building on the strong growth of recent years. Thanks to the solid execution of the business model, funds from operations adjusted for lease effects increased by 7%. Net cash position stood at €11.0 billion at the end of the period.
Inditex’s dividend policy consists of a 60% ordinary dividend payout along with additional dividends. For the 2025 financial year, the Board of Directors will propose a dividend of €1.75 per share at the General Meeting, comprising an ordinary dividend of €1.20 per share and an additional dividend of €0.55 per share. The dividend will be paid in two equal installments.
To continue supporting its long-term growth, Inditex plans ordinary capital expenditures of approximately €2.3 billion in 2026. These investments will primarily focus on commercial space optimization, technological integration, and the development of online platforms.
The Spring/Summer collections were very well received by customers. Store and online sales, on a constant currency basis, increased by 9% between February 1 and March 8, 2026, compared to the same period in 2025.
