22 June 2020
The Weekly
Spain

El Corte Inglés closed the 2019 financial year with an increase in consolidated net profit of 20.1%, standing at €310mn, and a gross operating profit (Ebitda) that exceeded € 1,097mn, 5.4% more than in the previous exercise. These are the results of the department store chain until February 29, 2020, before the pandemic broke out, which has had a ‘significant impact’ for the company. In the 2019 financial year, the consolidated turnover reached €15.2bn, which represents an increase of 1.2% compared to the previous year. The group's gross margin has increased by 0.3% to €4.5bn. All in all, the group's debt was reduced by €638mn, leaving it at February 29, 2020 at €2.7bn.

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