Inditex achieves a capitalization of 100,000 million for the second time this year

Inditex has passed this Tuesday 100,000 million euros of market capitalization after several days on the verge of exceeding that level of valuation. This is the second time it has achieved it in 2021 and it does so after accumulating a profitability of 7.25 since it presented results last Wednesday. The textile firm maintains the highest figure on the Spanish Stock Exchange, ahead of Iberdrola and Banco Santander.

After several days touching the 100,000 million euros of capitalization, it has finally reached it at 3:00 p.m. this Tuesday. Inditex shares extend the increases to approach 2% and place the price at 32.35 euros. So far from year, the advance is 24.23%.

Last Wednesday Inditex reported that earned 1,272 million euros in its first fiscal semester (which goes from February 1 to July 31, 2021) compared to the loss of 195 million that was recorded in the same period of the previous year, which was strongly impacted by the covid-19 pandemic and confinement. The company continued to consolidate its recovery and recorded a second quarter with sales, gross operating profit (ebitda) and net profit at historical highs.

In the first half of its fiscal year, sales totaled 11,936 million euros, 49% higher than in 2020, and at a constant exchange rate the growth was 53%. For this fiscal year 2021, Inditex expects the online channel to exceed 25% of total sales.

The Inditex throne on the Ibex 35

From the presentation of your accounts Inditex rises 7.25% on the stock market, progress with which it exceeds 100,000 million euros of capitalization for the second time in the year, since last May 17 it also achieved it. Behind the company founded by Amancio Ortega, Iberdrola is the largest Spanish company by market capitalization, with more than 59,370 million and Banco Santander third, with more than 50,634 million.

On August 5, 2015, Inditex exceeded 100,000 million euros of capitalization for the first time in its history, something that until then they had only achieved Telefónica and Santander.

Inditex presented last week its results for the first fiscal semester, from February 1 to July 31, according to which it registered a net profit of 1,272 million euros, leaving behind the losses of 195 million that were recorded a year earlier, weighed down by the Covid-19 pandemic and marking a record second quarter.