Inditex has been tremendously successful since its initial public offering in 2001, as sales have
quadrupled from that time. Inditex’s profit growth stagnated at an EBITDA of roughly €2.15 billion
in both fiscal 2007 and 2008, which can be considered a strong performance considering the
financial crisis of 2008. In fiscal 2009, they began to grow again with a 10% increase in EBITDA to
€2.4 billion. Since then, profits have consistently risen through fiscal 2012, in which Inditex posted
an EBITDA of €3.9 billion, a 77% increase over the 5 year period. From fiscal 2011 to 2012, Inditex
went from an EBITDA of €3.3 to €3.9 billion, a 20% increase overall. Meanwhile, main competitor
H&M’s EBITDA increased by 9% over the same span. Gross profit rose to €9.5 billion in fiscal
2012, which was 16% higher than in 2011. The Gross margin reached 59.8% of sales, and increase
from 59.3% in fiscal 2011.