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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Inditex - Industria de Diseño Textil    ITX   ES0148396007

INDITEX - INDUSTRIA DE DISEÑO TEXTIL (ITX)
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Inditex : donates one million dollars for emergency relief work in the wake of the earthquake in Mexico

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09/26/2017 | 05:10pm CEST
  • The donation will be channelled through the Mexican Red Cross, the organisation spearheading the emergency effort on the ground following the devastating earthquakes, the last of which has left 325 dead so far, thousands injured and levelled dozens of buildings in the country's capital.
  • Chairman and CEO Pablo Isla expresses his sympathies for the victims, stating that 'Inditex will always be by Mexico's side, for we are part of Mexico'

Inditex is donating one million dollars (18 million Mexican pesos) to help fund the emergency relief, rehabilitation and reconstruction work needed urgently in the wake of the devastating tremors that have shaken Mexico to its core.

The contribution will be channelled through the Red Cross, Inditex's long-standing partner in emergency efforts and one of the organisations heading up the relief work in the areas affected by the catastrophe. The aid will be divided out over the coming days in response to the specific needs identified by the humanitarian organisation.

The Group's chairman and CEO, Pablo Isla, underlined the ties between Inditex and Mexico, stressing that the company 'has always been and will always be committed to Mexico, because we are an inseparable part of the country on account of our history and fraternal ties'. Pablo Isla sought to express above all his utmost 'sympathy for the families of the victims', feeling their 'pain and grieving', and highlighted the 'courage and example being provided to all by the thousands of volunteers who have travelled to the region, a benchmark of what it means to be a world hero'.

Indeed, the Mexican Red Cross has dispatched numerous volunteers and crews who, along with other organisations doing important work as part of the relief effort, have managed to bring 69 people out of the debris alive.

Against this backdrop, the Red Cross wants to earmark Inditex's donation in the days to come to priority humanitarian care such as continuity of the rescue operations, reinforcement of the provision of food and other staples to the people affected, expansion of temporary shelter arrangements the provision of psychological and social support to the people affected by the earthquake.

Inditex's contribution will also help the Mexican Red Cross with its huge reconstruction and rehabilitation investment effort, in coordination with the government and local authorities. So far almost 8,000 buildings have been analysed, around 300 of which need more detailed studies to determine whether their structures have effectively been damaged.

The last earthquake, which shook the centre and south of Mexico last Tuesday, measuring 7.1 on the Richter scale, has left at least 325 people dead, thousands injured and dozens of buildings in the capital city raised to the ground. Mexico's citizens have rallied around the relief effort, improvising citizen brigades; many have visited the sites of the collapsed buildings to help the rescue teams and bring food and water. Besides the capital, Morelos and Puebla were the two regions most affected. Several countries, including Spain, Israel, Colombia and Chile, were quick to dispatch teams of experts to help with the rescue work.

This donation in Mexico complements the community work that Inditex has been carrying out in the country for many years, all of which is articulated around enhancing the living standards of vulnerable people or those at risk of social exclusion. These projects are focused primarily on education, employment and humanitarian assistance and are executed in collaboration with local organisations such as the San Ignacio de Loyola A.C. Foundation, the Jesuit Migrant Service in Mexico, Fomento Cultural y Educativo A.C., ISIA (acronym in Spanish for the Ayuuk Intercultural School) and CAEC (the community education support centre).

To date, Inditex's work with these organisations has helped meet the needs of over 150,000 people. This humanitarian effort, whose funding currently stands at over €1.5 million (32 million Mexican pesos), is a nationwide effort but is concentrated in Mexico City and the states of Chiapas, Veracruz, Oaxaca and Jalisco. As with the Mexican Red Cross, the organisations in charge of these projects have similarly mobilised their resources to help cater to the needs arising in the wake of the earthquakes and assist with the reconstruction work necessary in the affected areas.

How you can help

If you would like to help personally, with the aim of optimising the donation process, the Mexican Red Cross would like to inform you that a dedicated account has been set up to channel donations for this emergency effort. The details are available on the organisation's website at https://cruzrojamexicana.org.mx/sismo-19-de-septiembre-del-2017. On that same page you can find out about several ways in which you can make sure your personal donations reach the people affected by this catastrophe.

INDITEX - Industria de Diseño Textil SA published this content on 26 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 September 2017 15:09:04 UTC.

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Financials (€)
Sales 2019 26 800 M
EBIT 2019 4 491 M
Net income 2019 3 516 M
Finance 2019 6 936 M
Yield 2019 2,92%
P/E ratio 2019 23,77
P/E ratio 2020 21,74
EV / Sales 2019 2,85x
EV / Sales 2020 2,60x
Capitalization 83 433 M
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 30,9 €
Spread / Average Target 15%
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Managers
NameTitle
Pablo Isla Álvarez de Tejera Chairman & Chief Executive Officer
Carlos Crespo González Chief Operating Officer
José Ignacio Fernández Chief Financial Officer
Gabriel Moneo Marina Chief Information Technology Officer
Amancio Ortega Gaona Non-Executive Director
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