El Corte Inglés reported a net profit of 512 million euros for the fiscal year ending February 2025, marking a 6.7% increase compared to the previous year. The company's revenues rose by 2% to 16.675 billion euros. The retail segment, particularly fashion and beauty, contributed significantly to the revenue growth, with the group's overall sales reaching 14.786 billion euros, a 2.3% increase from 2023. Additionally, El Corte Inglés reduced its debt by 263 million euros and announced a record dividend payout of 225 million euros, a 40% increase. The company has also scheduled its general shareholders' meeting for July 24, where a new incentive plan tied to its strategic plan through 2030 will be discussed. Furthermore, El Corte Inglés is preparing a new senior bond issuance of 500 million euros with an eight-year maturity aimed at general corporate purposes and refinancing existing debt. In related business news, Pontegadea, the holding company of Amancio Ortega, increased its profits by 17.3% in 2024 to 9.322 billion euros. Mango, another major retail player, accelerated its growth with revenues reaching 1.728 billion euros, a 12% increase, and invested 110 million euros in strategic projects. Logista reported a net profit of 214 million euros for the first nine months of its fiscal year, a 9.7% decrease, and approved a dividend of 74 million euros.
Mango factura 1.728 millones hasta junio, un 12% más, e invierte 110 millones en proyectos estratégicos https://t.co/kwI958DwcL
Logista gana 214 millones en nueve meses de su año fiscal, un 9,7% menos, y aprueba dividendo de 74 millones https://t.co/vTbCZ9f4Q6
Eni SpA’s deal to sell half of its carbon capture and storage unit to BlackRock Inc.’s Global Infrastructure Partners will likely value the business at around €1 billion ($1.2 billion) - Bloomberg