Inditex SA Annual Report Annual Report 2013

296 Pages·2014·12.55 MB·English

2013 Annual Report
indicators
Evolution of main indicators
Turnover (in billions of euros) 2013 2012 Other relevant information 2013 2012
Sales 16.724 15.946 Number of stores 6,340 6,009
Net openings 331 482
Results (in billions of euros) 2013 2012 Number of markets with commercial presence 87 86
Operating profit (EBITDA) 3.926 3.913 Number of markets with an online store 25 22
Operating profit (EBIT) 3.071 3.117 Number of employees 128,313 120,314
Percentage of women 78.1% 78.7%
Net profit 2.382 2.367 men 21.9% 21.3%
Net profit attributable to the parent company 2.377 2.361 Overall energy consumption (in terajoules) 3,895 4,010
Number of suppliers 1,592 1,490
Financial and management ratios 2013 2012 Investment in social programmes (in millions of euros) 23 21
ROE (Return On Equity) 27% 30%
ROCE (Return On Capital Employed) 35% 39%
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indicators
indicators
rElEvant data
Sales (in billions of euros) Net result (in billions of euros)
16.724 2.382
15.946 2.367
13.793 1.741 1.946
12.527
11.048 1.322
2009 2010 2011 2012 2013 2009 2010 2011 2012 2013
Sales by geographical area Number of employees
Asia and the rest
of the world 2013 128,313
Spain
20%
20%
2012 120,314
America 2011 109,512
14%
Europe
(excluding Spain) 2010 100,138
46%
2009 92,301
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table of contents
6 48 166
About this report Challenges, objectives Annual accounts
and opportunities
Investors and stock indices
Supply chain
Economic and financial
integrity
report
8 Manufacturing responsible
Consolidated director’s
products
report
Responsible use of water in
Risk control systems
the supply chain
Year review
Internal control and risk
Efficient use of resources
Letter from the Chairman management systems for
throughout the business
the process of financial
Context model
reporting (SCIFF)
Milestones of the year Protection of biodiversity
Auditing and monitoring
Commercial presence Ongoing development of committee
teams’ motivation
Nomination and
E-commerce platforms
Strengthening customer remuneration committee
Evolution of main indicators services
Retail formats Improving community
welfare
274
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114
Verification of GRI
indicators
Sustainable model
Value chain Corporate governance
Right to Wear
278
Company relations
with stakeholders
138
Materiality analysis
Balance of material issues GRI indicators
Sustainability balance
sheet
Tax contributions
2013 Annual Report
about this report
Transparency is the fundamental principle that inspires Inditex in its relations with its interest
groups, all the stakeholders who have some kind of relationship with the company. Inditex actively
participates in the most innovative global reporting initiatives, incorporating best practices into its
Annual Report in order to provide transparent, reliable, relevant and accurate information.
The Annual Report sets out the most important social, economic and environmental
developments of the year, allowing stakeholders to assess the value created and performance
of the Group over the year.
Strategic additional information available at www.inditex.com.
intErnational rEPortinG initiativEs suBscriBEd to BY inditEX
− Inditex has adhered to its criteria since 2002 and is an − Member of the Integrated Reporting Pilot Programme of − Participant in the United Nations Global Compact since 2001
active member of the Organizational Stakeholders group the International Integrated Reporting Council (IIRC) since
its launch − Committed to aligning company strategies and operations
− Member of the “G4 Pioneers” programme since its launch with the 10 principles of the Global Compact
− Active participation in the drafting of the Integrated
− The 2013 Annual Report is published in accordance with Reporting Framework − GC Advanced level (maximum level awarded by the Global
the guidelines set out in the new G4 Guide launched by Compact) in its last Communication on Progress
GRI last year − In line with the principles established in the Framework,
Inditex’s 2013 Annual Report is presented as an − The Communication on Progress for this Annual Report is
− The Report has been drafted in “comprehensive integrated report included in the Report’s GRI index
accordance” with the G4 Guide (maximum level of
adherence)
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about this report
about this report
GuidinG PrinciPlEs for tHE draftinG of inditEX’s 2013 annual rEPort
Integrated Reporting
GRI – G4 Framework AccountAbility
Principles for Principles for Guiding Principles AccountAbility
determining determining the Principles AA1000
Report contents quality of the Report - Strategic focus and future
orientation - Inclusivity
- Stakeholders - Balance
- Connectivity of - Materiality
inclusiveness - Comparability information - Responsiveness
- Sustainability context - Accuracy - Stakeholder relationships
- Materiality - Timeliness - Materiality
- Completeness - Clarity - Conciseness
- Reliability - Reliability and integrity
- Consistency and
comparability
External verification
Inditex’s Annual Report has been verifi ed by SGS ICS Ibérica, SA, in accordance with ISO 19011 and in line with the
principles established in the G4 Guide to Sustainability Reporting of the Global Reporting Initiative, the principles
established in the International Integrated Reporting Framework, and AA1000 AccountAbility Principles Standard
2008 (AA1000APS). The results of this verifi cation demonstrate that the application level (In Accordance – Exhaustive)
declared for the GRI Guide (G4) is appropriate. Equally, a selection of relevant indicators was reviewed by KPMG
Asesores in accordance with standard ISAE 3000. This selection of indicators was produced based on Inditex’s annual
materiality analysis, carried out in conjunction with stakeholders. In 2013, the scope of these groups was expanded.
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year review
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2013 Annual Report
letter from
the Chairman
This effort is linked to Inditex’s strong commitment to preparing
a comprehensive Report, in which all variables of our business
are presented in a clear, interconnected way. Only this kind of
overview of the business and the management of its impact on
the environment can serve to adequately assess the progress
made in our sustainability strategy. The company’s culture and
Dear Friends, philosophy have always been linked to creating value beyond
strict financial profitability; value for its customers, employees,
Once again, 2013 was a year marked by the growth of our
shareholders, business partners and the community.
business, the international expansion of our retail formats,
investment and job creation. Last year we continued to This commitment is reflected in the economic boost generated
promote our strategy to open and refurbish emblematic by the Group’s activity, not only in the form of job creation, with
stores and implemented new projects both on the retail and more than 8,000 posts created in 2013, but also in the impetus
the operational front. given to the activities of all of the suppliers linked to our business
activity, which in turn channel wealth into communities. Inditex
With a constant focus on transparency in management, this
also makes an important tax contribution, both in terms of
Annual Report endeavours to go beyond the mere listing of
the taxes paid by the company worldwide, with more than 4
facts and figures. Our aim is to ensure that the Annual Report
billion in direct taxes or taxes collected for governments during
sets out the key details that will allow all stakeholders to
2013, and – fundamentally – in Spain, where the Group’s tax
make an in-depth analysis of our performance. In this respect,
contributions reached over 1.2 billion euros in total.
our commitment to the United Nations’ Global Compact,
participation in international platforms such as the Ethical In many cases this value is expressed in elements that
Trading Initiative or the Sustainable Apparel Coalition, and are not strictly economic, related to issues such as our
collaboration with the international trade union federation shareholders’ confidence in the quality of Inditex’s corporate
IndustriALL are good examples of the rigorous way in which governance and our customers’ confidence in the products
we achieve this transparency. they buy in our stores or our continuous improvement
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