El Corte Inglés to invest 3 billion euros until 2030 and re-elects Marta Álvarez as chairwoman

El Corte Inglés announced that it will invest 3 billion euros as part of its 2030 strategic plan during its shareholders’ meeting held this Thursday in Madrid, where Marta Álvarez was re-elected as president of the group for the next five years.

Álvarez stressed to shareholders that the 2025-2030 strategic plan, in force since March 1, includes key aspects such as the remodelling of stores, business expansion, and growth in the group’s logistics and technological capabilities. In order to achieve these objectives, the El Corte Inglés roadmap foresees investments of more than 3 billion euros over the period.

“Everything we do at El Corte Inglés is aimed at understanding, anticipating and exceeding our customers’ expectations, offering them unique experiences and real value: the service that sets us apart,” said the president during her speech.

Marta Álvarez also wished to acknowledge the work that all the group’s employees carry out in their different areas of activity and re-emphasised the commitment of El Corte Inglés to society and the environment.

The President of El Corte Inglés described the 2024 financial year as “very positive” for the group, with substantial increases in sales figures and results.

El Corte Inglés ended the 2024-2025 financial year (closed on February 28, 2025) with a net profit of 512 million euros, up 6.7% compared to the previous year, while recurring net profit rose to 470 million euros, up 30.8%.

Consolidated total revenue amounted to 16,675 million euros, an increase of 2% over the previous year. Revenue increased by 4.3% on a like-for-like basis.

The consolidated group’s gross operating profit (EBITDA) rose to 1,209 million euros, 11.9% more than in the previous year, while pre-tax profit amounted to 682 million euros. Net financial debt was reduced by 263 million euros to 1,796 million euros, a multiple of 1.5 times EBITDA.

In this way, the shareholders approved all the proposals made by the Board of Directors and also renewed Cristina Álvarez as member and José Ramón de Hoces as secretary.

In addition, the shareholders have given the green light to the distribution of a record dividend of 225 million euros, which is 40% more than the dividend approved last year, which amounted to 160 million euros charged to the results of 2023.

This amount is equivalent to 58% of the individual profit for the year ended February 28 this year, as well as 44% of the consolidated net profit of 512 million euros.

A new incentive plan has also been approved, which will be linked to the objectives of the strategic plan of the group chaired by Marta Álvarez for the period 2025-2030.