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870 M€ CONSOLIDATED
NET PROFIT
| Business Line | Fiscal Year 2022 | Fiscal Year 2021* |
|---|---|---|
| Retail | 12,213.30 | 11,325.67 |
| Travel | 1,676.94 | 472.12 |
| Other Businesses | 305.83 | 304.70 |
| Consolidation Adjustments and Eliminations | (127.35) | (105.92) |
| Total Revenue** | 14,068.72 | 11,996.57 |
| Total Transaction Value EL CORTE INGLÉS GROUP | 15,326.85 | 12,507.61 |
*Figures restated for the change in revenue recognition criteria for the Travel Group.
** Total Revenue stated net of revenue from intermediation and other considerations as a result of the change in the consolidation scope following the integration of Logitravel into El Corte Inglés Travel Group.
| Business Line | Fiscal Year 2022 | Fiscal Year 2021* |
|---|---|---|
| Retail | 754.99 | 699.67 |
| Travel | 50.31 | (56.78) |
| Other Businesses | 31.18 | 41.64 |
| Consolidation Adjustments and Eliminations | 114.88 | 119.75 |
| Total Transaction Value EL CORTE INGLÉS GROUP | 951.37 | 804.28 |
*Figures restated for the change in revenue recognition criteria for the Travel Group.
The 2022 fiscal year (between March 1, 2022 and February 28, 2023) has meant for the El Corte Inglés Group a return to the path of growth in all areas of activity and achieve the highest profits in recent years , despite the complex national and international economic context.
The Group's financial strength is also reflected in a decrease in net financial debt that has stood at 2,295 million euros, the lowest level in the last 15 years.
+20
BANKING
ENTITIES
In March 2022, a refinancing was signed with more than twenty national and international banking entities, with which a stable relationship has been ensured, with lower costs and longer terms.
Strategic
ALLIANCE
Mutua Madrileña and El Corte Inglés obtained, in May 2022, all the pertinent authorizations to complete their strategic alliance that has led to the entry of the insurance group into the shareholding of El Corte Inglés and the acquisition by Mutua of the 50.01% of the insurance business of El Corte Inglés.
Primefin
SHARES
El Corte Inglés and its shareholder Primefin closed, in June 2022, an agreement whereby the distribution company repurchased half of its shareholding from Primefin, which until then was 11.07% of the share capital.
EIB
AGREEMENT
The European Investment Bank (EIB) and El Corte Inglés signed, in January 2023, a financing of 74 million euros to promote the energy efficiency and digital transformation plan until the year 2024.
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