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♦ ♦ ♦ ♦ ♦ ♦ INDITEX ♦ Interim Half Year 2021 Results 1 February 2021 to 31 July 2021 Inditex's differentiation and strategic transformation towards a fully integrated , digital and sustainable business model accelerates The recovery continues to gain momentum . 2Q2021 sales , EBITDA and net income reached historic highs . During 2Q2021 , sales growth in constant currency continued accelerating to reach 7 % versus 2Q2019 Store and online sales in constant currency between 1 August and 9 September 2021 increased 22 % versus the same period in 2020 and 9 % versus the same period in 2019 At current exchange rates , the currency impact on sales in 2H2021 is expected to be around + 0.5 % versus 2H2020 and -5.5 % versus 2H2019 Over the 1H2021 store sales have steadily improved . Online sales continue to grow strongly . Online sales in constant currency increased 36 % over 1H2020 and 137 % over 1H2019 . Inditex expects online sales to be more than 25 % of sales in FY2021 In 1H2021 net sales reached € 11.9 billion , 49 % higher than in 1H2020 . Sales in constant currencies grew 53 % Gross profit reached € 6.9 billion , 53 % higher than 1H2020 . Gross margin reached 57.9 % ( + 170bps ) . Based on current information Inditex expects a gross margin of around 57.5 % ( +/- 50 bps ) for FY2021 All expense lines have shown a favourable evolution . Operating expenses increased by 25 % over 1H2020 and were below 1H2019 levels In 1H2021 EBITDA increased 109 % to € 3.1 billion and EBIT reached € 1.7 billion ( € 198 million in 1H2020 ) ♦ Net income in 1H2021 came to € 1.3 billion ( - € 195 million in 1H2020 ) . Strong cash generation from operations continues . The net financial position grew 24 % to € 8 billion The migration to the Inditex Open Platform ( IOP ) is close to 95 % complete The FY2020 final dividend of € 0.35 per share will be paid on 2 November 2021