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Record results at Mango

Sales at fashion retailer Mango increased 6.3% year on year to €2.4bn (£2bn) – the highest in the company’s history.

EBITDA rose by 43.7% TO €194m. The retailer reduced its net financial debt by €131m (£113m) to €184m (£159m).

Online sales grew by 26.7% to €564m (£490m) and now make up 23.7% of total group turnover. During the year, Mango invested €58m (£50m), most of which was allocated to accelerating its digital transformation.

Mango’s chief executive Toni Ruiz said: “2019 has been an extraordinarily satisfactory year, in which we achieved the highest sales figure in our history and we have obtained the largest increase in profit in a single financial year. These excellent figures are the result of the effort and the great work of all of us who form part of Mango and will allow us to continue to build the company we want to be in the future.

“Our financial situation is better than it has been for many years. Today we are able to repay all the debt the company generates in a single year. Our goal is to continue reducing it, but without renouncing projects that will increase our profitability.”

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