RESULTS FOR THE 2025–26 FINANCIAL YEAR

In financial year 2025–26 (ending 28 February 2026), El Corte Inglés achieved solid growth in sales and profitability, with double-digit increases in earnings and the lowest level of debt in almost two decades. This significant growth across all financial indicators is attributable to the strong performance of its core business areas, as well as to ongoing improvements in efficiency.

All this has also been underpinned by a constant commitment to quality, the careful selection of products, innovation and a commitment to customer service.

Total Transaction Value totalled €17.247 billion, with turnover reaching €14.988 billion; a 2% increase on a like-for-like basis. Retail growth stands out, with a clear upturn during periods of peak commercial activity, particularly in the second half of the financial year (+2.2%). Similarly, the Travel division maintained solid growth (+3.1% in turnover), driven mainly by the holiday segment, to which the increase achieved from the commercialisation of retail space must also be added.

The consolidated group's gross margin rose 2.5%, with the second half of the financial year being of particular note.

These improvements in management are also reflected in EBITDA, which rose to €1.266 billion; a 4.7% increase on the previous year.

In terms of results, net profit reached €628 million, up 22.8% on the previous year, whilst recurring net profit stood at €522 million, an 11% increase on the previous year.

Net financial debt fell €148 million, against a backdrop of steady growth in EBITDA driven by business expansion and efficient costs management. This positive trend brings indebtedness down to 1.3 times EBITDA, the lowest level in almost two decades, whilst the value of assets has increased €311 million thanks to the investments made.

The results for the 2025–2026 financial year therefore show solid growth and improved profitability; whilst the first half was weather affected, the second half of the year saw stronger growth thanks to improved operational efficiency in-store and strengthened logistics.

Finally, a significant investment was made during the financial year (€567 million), which is set to be exceeded this year by around 14.6%, or €650 million, as announced by Chairwoman Cristina Álvarez in January.

AREAS OF ACTIVITY

By business segment, the Retail division achieved total revenues of €13.216 billion and turnover of €12.633 billion, representing growth of 1.8% on a like-for-like basis. Particularly noteworthy is the strong performance of the Fashion and Beauty division, which saw a 3.1% increase in sales, reaching €5.882 billion. Fashion is establishing itself as a key growth area, performing strongly within a sector that includes jewellery, beauty, watches and sports.

In the Food and Hospitality sectors, sales stood at €3.064 billion (+1.5%), with the Gourmet Club showing a particularly notable increase. In the Home and Electronics sectors, sales reached €2.776 billion.

For the online channel, the Group's websites and apps recorded over 1.007 billion visits (891.7 million in 2024). The company has 16.3 million registered customers on elcorteingles.es.

This positive performance across the various retail business lines has boosted its EBITDA by 4.3% to €961 million.

Total revenue for Viajes El Corte Inglés stood at €3.489 billion, with turnover of €2.117 billion, representing growth of 3.1%, and EBITDA of €107 million; up 6.3% on the previous year.

Notable highlights include strong growth in the holiday segment and the recovery of the corporate business, as well as the strength of the tour operator business, particularly with the in-house brands Tourmundial and Club de Vacaciones.

The surface commercialisation  category saw strong revenue growth (up 14.4% to €95 million), driven by strong performance across both in-store and stand-alone assets. Particular mention should be made of the use of space in shopping centres for electric vehicle charging, as well as the strong performance of KUMO, El Corte Inglés' data centre business, which now has a new facility in Paterna (Valencia).

Financiera El Corte Inglés also posted significant growth, with net profits of €56 million for the financial year; an increase of 10.7%.

For its part, Seguros El Corte Inglés posted a net profit of €75 million; 6.3% up on the previous year. The number of policies reached 1.4 million, 12% more than last year.

The strong performance of the various business segments, the Group's financial strength, sales trends in the first few months of the year and increased investments suggest a positive outlook for the 2026–27 financial year.

Chairwoman Cristina Álvarez said that "these results demonstrate the company's strength and enable us to look ahead to the coming years with confidence, with increased investments and growth, and with the aim of ensuring that every customer's experience at El Corte Inglés is always unique."

KEY FIGURES

(*) All gross sales by external operators have been included in total revenue, and the figure for 2024 has been restated on a comparable basis.