El Corte Inglés Posts Record 512M Euro Profit in Third Year of Growth

Spanish retail continues its successful post-pandemic transformation, achieving strong financial results for 2024. The company recorded a net profit of 512 million euros, representing a 6.7% increase compared to the previous year.

Even more impressive is the recurring profit, which reached 470 million euros – a 31% increase compared to 2023 and more than double the 2022 figure. The group’s total revenue climbed to 16.675 billion euros with 2% growth.

Strong Performance Across All Key Areas

The markedly positive trend continues in operational indicators. EBITDA rose 11.9% to 1.209 billion euros, marking El Corte Inglés’ third consecutive year of double-digit growth in this key metric. EBITDA margin improved to 8.2%.

Source: ecommerce-news.es

The company’s gross margin increased 4.5% to 4.966 billion euros, representing 33.6% of total sales – nearly one percentage point higher than the previous year. This growth was particularly supported by the strong performance of private label brands.

All Divisions Showing Growth

Despite a more moderate second half, which aligned with retail sector trends, all El Corte Inglés business areas recorded improvements compared to 2023. The Fashion and Beauty segments performed particularly well.

The company enters 2025-2026 with optimistic prospects across all divisions. A new strategic plan from CEO Gastón Bottazzini is also expected to be unveiled, positioning El Corte Inglés for continued growth in the evolving retail landscape.