IDEXF - Industria de Diseño Textil S.A. (IDEXY) Q4 2023 Earnings Call Transcript
2024-03-13 14:39:09 ET
Industria de Diseño Textil, S.A. (IDEXY)
Q4 2023 Results Conference Call
March 13, 2024 4:00 AM ET
Company Participants
Marcos García - Capital Markets Director
Oscar Maceiras - CEO & Executive Director
Ignacio Fernández - Chief Financial Officer
James O’Shaughnessy - Senior Investor Relations Manager
Conference Call Participants
Richard Chamberlain - RBC
Georgina Johanan - JPMorgan
Sreedhar Mahamkali - UBS
William Woods - Bernstein
James Grzinic - Jefferies
Warwick Okines - Exane BNP Paribas
Anne Critchlow - Societe Generale
Presentation
Marcos García
Good morning to everybody. A warm welcome to all of those attending the presentation of Inditex’s results for 2023. I am Marcos López, Capital Markets Director. The presentation will be chaired by Inditex’s CEO, Oscar Garcia Maceiras. Also with us is our CFO, Ignacio Fernández. The presentation will be followed by a Q&A session, starting with the questions on the telephone and then those received through the webcast platform. Before we start, we will take the disclaimer as read. Please, Oscar.
Oscar Maceiras
Good morning, and welcome to our 2023 results presentation. It is my pleasure to join you today.
In 2023, Inditex saw a very robust operating performance driven very much by the creativity of our teams and the strong execution of our fully integrated business model. We have experienced very satisfactory sales growth of 10.4%. Our collections were very well received throughout the year as a whole. This, of course, has been the main driver for sales, EBITDA and net income reach historic highs.
The execution of the business model has also been very robust with a healthy gross margin and controlled cost management. On the bottom line, net income increased 30% to €5.4 billion. The operating performance of the group further underpins our sound financial position. This can be seen in the significant free cash flow generated over the period....
Industria de Diseño Textil, S.A. (IDEXY) Q4 2023 Earnings Call Transcript