Investors and stock market indexes

1. Investors relations

1.1. Shareholder base

Inditex shares are represented by means of account annotations. Keeping the register of these annotations is the responsibility of the Management Company for Share Registration, Compensation and Liquidation Systems (Iberclear).

Inditex had 68,894 shareholders according to data from form H-TITU which the company requested from Iberclear for the 2015 Ordinary General Shareholders Meeting. Of these 64,279 were individual shareholders and the remainder institutional investors. With the incorporation of significant holdings registered in the Spanish National Securities Market Commission (CNMV), the approximate overview of shareholder structure is as follows:

Shareholder body Shares %
Institutional investors 1,222,008.480 39.14%
Individuals 48,643,205 1.56%
Partler 2006 SL 289,362,325 9.28%
Pontegadea Inversores SL 1,558,637,990 50.01%
Total 3,116,652,000 100%

Among its operating principles, Inditex includes compliance with a policy of transparency with communication channels and maintenance of those channels. It guarantees that all of its current and potential shareholders have clear, complete, homogeneous and simultaneous information, adequate for evaluating company management and its economic and financial results. The Rules of the Board set down, in Article 41, a series of measures which regulate the relations with the shareholders.

1.1.1. Shareholders’ Office

Any individual shareholder can visit the Shareholders’ Office to request detailed information on the performance of the business and future strategy. Through this channel individual shareholders can formulate any request for information that they deem relevant on the performance of Inditex. The Shareholders’ Office dealt with more than 800 petitions from individual investors during 2016.

The Shareholders’ Office takes on special relevance during the period that the General Meeting of Shareholders is called and celebrated. It is traditionally held halfway through July at Inditex’s corporate headquarters in Arteixo (A Coruña). Information and documentation is sent specifically to provide shareholders with appropriate knowledge on the convening and content of the General Meeting as well as to facilitate their participation in the decision making process of the Group’s highest governing body.

1.1.2. Department of Investor Relations

  • 42 financial firms publish analytical reports relating to Inditex shares.
  • 4,615 institutional investors, holding 39.1% of corporate capital, play a key role in the formation of the share price and liquidity.

Relevant information on the performance of the business is communicated through the corporate website of Inditex ( and is distributed to a database of more than 1,100 investors and analysts.

Inditex complements this information each quarter with freely accessible multiconferences. Additionally, Inditex carries out presentations and holds meetings with investors and analysts throughout the year in the principal financial capitals of the world.

1.1.3. Activities with institutional investors

a) Roadshows.

Inditex holds four annual main roadshows where it presents the quarterly results, visiting the world’s principal financial capitals. During these roadshows, the principal investors have access - mainly by means of individual meetings - to the strategic viewpoint of the management team. During these visits direct contact is established with more than 250 investors.

b) Sector Conferences.

Other forums for communication with investors are the sector conferences organised by financial institutions. Inditex participates in the principle events held in Europe, each having an average attendance of 50 leading institutional investors.

c) Individual meetings.

Apart from the programmed events, large numbers of meetings are held with investors during the year. In the case of specific requests, visits to investors from a certain country or geographical area are also organised. In the past year presentations have been made in the principal financial capitals of Europe, America and Asia to more than 150 institutional investors.

d) Investor visits to corporate facilities.

There are also many visits to Inditex facilities from institutional investors. The purpose of these visits is to gain a deeper knowledge of our organisation, its business model, and corporate strategy. Throughout 2016, meetings have been held with approximately 80 institutional investors from all over the world. 200 videoconferences and multiconferences were also held.

Massimo Dutti store on Calle Presidente Masaryk in Mexico City (Mexico).

1.2. Euro STOXX 50/ IBEX 35

Inditex has been a member of Europe’s leading blue-chip index for the Eurozone the Euro STOXX 50 since 2011 and the IBEX 35 since 2001.


Inditex was included in the latest update of this family of indices as a member of DJSI World and DJSI Europe for the sixteenth consecutive year. In addition, Inditex was named leader in its sector and was awarded the gold medal in the Sustainability Yearbook 2017, the highest distinction given by the study conducted by investment consultant RobecoSAM, which acknowledges the leading companies in sustainability worldwide. Inditex scored a total of 80 points on a scale of 100, a result much higher than the average of companies in the sector, which stands at 36 points.

The Dow Jones Index is a benchmark for investors, which annually measures the economic, environmental and ethical behaviour of shares on the Stock Exchange. The ranking, published since 1999, has this year featured the participation of 2,535 companies from all over the world.

A total of 316 companies from 24 different sectors have been included in this 2016 edition.

2016 Inditex Score Percentile Ranking* Sector Average Score
Economic 76 100 42
Environmental 97 100 33
Social 76 98 29
Total 80 100 36

(*) Percentage of companies in the same sector which scored lower than Inditex.

1.4. FTSE4Good

Inditex has been a member of the FTSE 4Good since October 2002. This stock exchange index of sustainability includes worldwide companies with a major commitment to corporate responsibility, taking into consideration their environmental, social and corporate governance practices. In the latest index update in 2016, Inditex scored 4.6 out of 5, the highest in the sector.