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Global Growth Opportunities

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Global Growth Opportunities Global Growth Opportunities Interim Nine Months 2014 1 Disclaimer This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer to buy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looking statements. All statements other than statements of historical fact included herein, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations are forward-looking statements. Any such forward-looking statements are subject to risk and uncertainty and thus could differ materially from actual results. Some of these risks include, amongst others, ongoing competitive pressure in the sector, consumer tastes and spending trends, economic, political, regulatory and trade conditions in the markets where the Inditex Group is present or in the countries where the Group’s products are manufactured or distributed. The risks and uncertainties that could affect the forward-looking statements are difficult to predict. The company assumes no obligation to publicly revise or update its forward-looking statements in the case of unexpected changes, events or circumstances that could affect them. Given the uncertainties of forward-looking statements, we caution readers not to place undue reliance on these statements. For a discussion of these and other factors that may affect forward looking statements and the Inditex Group’s business, financial conditions and results of operations, see the documents and information communicated by the company to the Comisión Nacional del Mercado de Valores (the Spanish Securities Commission). The contents of this disclaimer should be taken into account by all persons or entities. Inditex Group Profile 2 Global fully integrated Store & Online East Nanjing Road Inditex Group Profile 3 Highlights Global Fashion Retailer 8 independent concepts 7,405 stores (1H17) / Online Sales €23.3bn (FY16) Cash flow €4.4 bn (FY16) Market cap. €101bn Unique business model Inditex Group Profile 4 Global fully integrated Store & Online Inditex Group Profile 5 Global fully integrated Store & Online 5 continents 94 markets Northern and southern hemisphere Inditex Group Profile 6 Differentiated business model Central inventory position Global fully integrated Store & Online Distribution to all stores worldwide twice a week Orders to stores and online customers in 2-48 hours Inditex Group Profile 7 Global online sales Central inventory position + Online stockrooms Poland UK 2014 & 2016 Russian Fed Boston 2012 2013 Seoul 2011 France Tokyo Madrid 2014 2015 2011 Los Angeles Philadelphia 2010 Turkey Shanghai 2014 2016 2012 2015 Taiwan New Delhi Mexico Hong Kong 2017 2015 2014 2016 Inditex Group Profile 8 Business Model Inditex Group Profile 9 Flexible, integrated business model Stores Design & Online Manufacturing Distribution & Sourcing & Logistics Inditex Group Profile 10 Customer driven Compelling mix of latest fashions and quality at affordable prices Unique product strategy . 65,000 new designs per year . delivery to stores at least twice per week Customer interaction . Constant feedback allows modification of collections Prominent stores in prime locations Global online sales Inditex Group Profile 11 Customer driven Inditex Group Profile 12 Customer driven Inditex Group Profile 13 Customer driven Inditex Group Profile 14 Global fully integrated Store & Online Latest fashion trends Prominent stores in prime locations / Online Fresh items twice a week Direct communication Inditex Group Profile 15 Strong growth Inditex Group Profile 16 Global opportunity Business model avoids the main fixed costs associated with international expansion . Central inventory position. No local distribution centers . No advertising . Lean local head offices . Fully integrated Store & Online Inditex Group Profile 17 Global fully integrated Store & Online Store & Online sales 1H2017 Europe ex-Spain 43% Asia & RoW 25% Spain 16% Americas 16% Total 100% Inditex Group Profile 18 Multi-concept strategy Market segmentation through distinctive concepts Independent management teams Same business model across all concepts Global presence Pull&Bear Zara Zara Massimo Dutti Bershka Stradivarius Oysho Home Uterqüe 1975 1991 1998 1999 2001 2003 2008 Inditex Group Profile 19 Global online sales Europe: Austria, Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Monaco, Netherlands, Portugal, Since 2007 All Concepts Spain, Sweden, UK, Switzerland, Norway, Finland, Poland, Romania, Croatia, Slovakia, Czech Republic, Bulgaria, Hungary, Lithuania, Latvia, Estonia, Slovenia, Malta and Turkey 2011 Zara United States, Japan Since 2012 All Concepts China Massimo Dutti, Zara 2012 United States Home Since 2013 All Concepts Russian Federation 2013 Zara Canada 2014 All Concepts Mexico 2014 Zara South Korea 2015 Zara Taiwan, Hong Kong, Macau 2015 Zara Home Australia 2016 Zara Home Dubai 2017 Zara Singapore, Malaysia, Thailand, Vietnam and India Progressive roll-out All Concepts Globally Inditex Group Profile 20 Inditex Concepts Inditex Group Profile 21 Multi-concept approach Inditex Group Profile 22 Operating autonomy, central support Arteixo (La Coruña) Tordera Inditex Massimo Dutti Zara Bershka Zara Home Oysho Uterqüe Narón (La Coruña) Pull&Bear Sallent Stradivarius Inditex Group Profile 23 Multi-concept strategy Age Target Sales Zara Massimo Dutti Pull&Bear Non- Bershka Zara Stradivarius Zara Oysho Zara Home Uterqüe 0 10 20 30 40+ Inditex Group Profile 24 Zara Latest fashions for women, men and children Headquarters in Arteixo (La Coruña) FY16 Sales: €15.4 bn FY16 EBIT: €2.8 bn 1H17 Stores: 2,235 Inditex Group Profile 25 Zara Inditex Group Profile 26 Zara Inditex Group Profile 27 Massimo Dutti Elegant design with excellent quality for men, women and children Headquarters and distribution centre in Tordera FY16 Sales: €1.6 bn FY16 EBIT: €280 m 1H17 Stores: 772 Inditex Group Profile 28 Massimo Dutti Costa Mesa Inditex Group Profile 29 Massimo Dutti Inditex Group Profile 30 Pull&Bear Casual fashion and sport styles for young men and women (14 to 28) Headquarters and distribution centre in Narón (Coruña) FY16 Sales: €1.6 bn FY16 EBIT: €231 m 1H17 Stores: 978 Inditex Group Profile 31 Pull&Bear Inditex Group Profile 32 Pull&Bear Inditex Group Profile 33 Bershka Latest fashions for young women and men (13 to 23) Headquarters and distribution centre in Tordera FY16 Sales: €2.0 bn FY16 EBIT: €333 m 1H17 Stores: 1,098 Inditex Group Profile 34 Bershka Geneva, Turin Inditex Group Profile 35 Bershka Inditex Group Profile 36 Stradivarius Urban fashion for young women and men (18 to 35) Headquarters and distribution centre in Sallent FY16 Sales: €1.3 bn FY16 EBIT: €236 m 1H17 Stores: 1,015 Inditex Group Profile 37 Stradivarius Inditex Group Profile 38 Stradivarius Inditex Group Profile 39 Oysho Latest trends in women’s loungewear, lingerie and undergarments Headquarters and distribution centre in Tordera FY16 Sales: €509 m FY16 EBIT: €79 m 1H17 Stores: 655 Inditex Group Profile 40 Oysho Inditex Group Profile 41 Oysho Race for the Cure Inditex Group Profile 42 Zara Home Textiles for bed, bath and table complemented by decorative items Headquarters in Arteixo (La Coruña) FY16 Sales: €774 m FY16 EBIT: €94 m 1H17 Stores: 569 Inditex Group Profile 43 Zara Home Inditex Group Profile 44 Zara Home Inditex Group Profile 45 Uterqüe Premium accessories (bags, shoes, costume jewellery) Headquarters and distribution centre in Tordera FY16 Sales: €83 m FY16 EBIT: €4 m 1H17 Stores: 83 Inditex Group Profile 46 Uterqüe Inditex Group Profile 47 Uterqüe Inditex Group Profile 48 Financial Summary Inditex Group Profile 49 Full Year 2016 € million FY16 FY15 16/15 Net sales 23,311 20,900 12% Gross profit 13,279 12,089 10% EBIT 4,021 3,677 9% Net income 3,157 2,875 10% Inditex Group Profile 50 Outlook Inditex Group Profile 51 Global growth opportunities Differentiated business model Global fully integrated Store & Online Strong growth opportunities Inditex Group Profile 52 Growth in Europe Important growth opportunities across the whole of Europe 2017 Inditex launch 7 concepts in Belarus All concepts Store & Online Inditex Group Profile 53 Growth in Asia Strong growth opportunity. Store & Online in China, Japan, South Korea, Hong Kong, Macau and Taiwan India, Singapore, Malaysia, Thailand and Vietnam online in 2017 Inditex Group Profile 54 Growth in the Americas Attractive growth markets. Strong expansion opportunities Fully integrated Store & Online Inditex Group Profile 55 Global growth opportunities Australia, New Zealand and South Africa Ongoing expansion Inditex Group Profile 56 Global online sales Strong presence in Europe, Asia, Americas Progressive rollout in all markets Inditex Group Profile 57 Strong capital efficiency Increased differentiation: Larger and more prominent stores in prime locations & global online Lower capital expenditure required for expansion. Ordinary capital expenditure to grow below space growth New space in prime locations in conjunction with increasing contribution from organic growth and online sales Inditex Group Profile 58 FY2017: Outlook 2 c.320,000m of new space in prime locations Global online sales rollout Capital expenditure c.€1.5 billion Inditex Group Profile 59 FY16 Dividend increase +13.3% €2.1 billion to be distributed to shareholders
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