2023-07-21 18:40:55
The general meeting of shareholders of El Corte Inglés has approved this Friday the distribution of a dividend of 125 million euros, which represents an increase of 66.6% compared to that distributed last year, sources from the distribution group have informed Europa Press.
Specifically, the company approved last year to distribute a dividend of 75 million euros, thereby returning to the shareholder remuneration levels of 2019, before the Covid-19 pandemic, a figure that this year has risen to 125 million euros.
The shareholders have unanimously approved this Friday all the proposals of the board of directors, among which are also the approval of the management report, the annual accounts for the year 2022 and the non-financial report.
The renewal of three of the members of the board of directors has also been ratified: Cartera Mancor, which is represented by Paloma García Peña; Corporación Ceslar, represented by Carlota Areces, and Fernando Becker, as independent director.
During the general meeting of shareholders, the president of El Corte Inglés, Marta Álvarez, assured that the Spanish distribution group is experiencing “one of the most promising stages” in its history with an “exciting future”.
“El Corte Inglés is experiencing one of the most promising stages in our history and we have an exciting future before us,” said Álvarez in his speech to the shareholders during the meeting in Madrid.
Specifically, the president of the group has reminded the shareholders that the company’s 2022 financial year was a year of growth for the group, which was reflected in all economic magnitudes and, especially, in obtaining positive results in all businesses, as reported in a statement.
El Corte Inglés closed the 2022 financial year (as of February 28, 2023) with a global volume of revenue of 15,327 million euros, which represents an increase of 22.5% compared to the previous year, while the gross operating result (Ebitda) reached 951.4 million euros, 18.3% more than the previous year.
The group’s recurring net profit reached 207 million euros, the highest in recent years, while total net profit stood at 870 million euros, the highest figure achieved by the company to date, thanks to extraordinary items.
In addition, the group has reduced its net financial debt, which stands at 2,295 million euros, that is, 900 million euros less than the previous year, standing at the lowest level in the last 15 years.
The president stressed that these results come from the “good evolution of the business, the optimization of costs and the rigor in management, which has made it possible to consolidate the path of growth and achieve the highest profits in recent years”.
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