El Corte Inglés profits up 6.7% more, raises revenues

El Corte Inglés closed the 2024-2025 financial year (ending February 28, 2025) with a net profit of 512 million euros, which represents a growth of 6.7% over the previous year, while the recurring net profit amounted to 470 million euros, up 30.8%, as reported Thursday by the Spanish department store group.

Overall consolidated revenues amounted to 16,675 million euros, an increase of 2% over the previous year. Revenue increased by 4.3% on a like-for-like basis.

The company highlighted the achievement of “significant growth” in its main areas of activity, as well as in all financial variables.

“The good performance responds to improvements in management efficiency, customer service vocation, as well as the continuous innovation and quality of its products,” it emphasized.

The gross margin showed a growth of 4.5%, in which, according to the company, the “good performance” of its own brand, which complements the “solid” offer of national and international companies, stands out.

Likewise, the consolidated group’s gross operating profit (Ebitda) rose to 1209 million euros, 11.9% more than the previous year, while profit before tax was 682 million euros.

Net financial debt, meanwhile, was reduced by 263 million euros, 1.5 times EBITDA, to 1796 million euros.

The company emphasized that it faces the 2025-2026 financial year with “good prospects” in its different business areas.

Fashion and beauty stand out in retail

The group has highlighted the improvement of all variables in all areas, with “good performance” of the retail business, highlighting the fashion and beauty divisions.

Thus, the group’s retail business posted an overall revenue figure of 12,976 million euros, with a growth of 3.9% on a comparable surface, with a “strong” positioning of the fashion and beauty area, which recorded an increase in sales of 4.9% to 5,704 million euros.

The food and hospitality areas also achieved “significant” growth, according to the company, with sales increasing by 4.8% to 3,044 million euros.

Meanwhile, the home and electronics areas improved their sales by 3.4% to 2,697 million euros.

As for the online channel, the group recorded more than 891.7 million visits to the group’s websites and apps (compared with 858.2 million in 2023). The company has 14.9 million customers registered at elcorteingles.es.

The company stressed that this positive evolution has boosted retail Ebitda to 922 million euros.

As for Viajes El Corte Inglés, its global volume of revenues reached 3,449 million euros, with a 4.3% growth, and its Ebitda reached 101 million euros, an 8.8% increase.

Likewise, Financiera El Corte Inglés increased its net profit this year by 22.8% to 50 million euros, while Seguros El Corte Inglés obtained a net profit of 71 million euros, after growing by 8.6% compared to the previous year.

Finally, the space marketing category, which includes rentals or commercial relationships in which the group incorporates third parties that complement the offer of customers (such as, for example, opticians, car washes and workshops, hairdressers or dental clinics), achieved a turnover of 83 million euros in the year.