Tempe: revenue up, profits down. It’s the summary of the 2022 experienced by the footwear company owned by Inditex. Specifically, Tempe increased sales by 7.9%, to 1.4 billion euro and effectively reaching pre-pandemic levels. Yet, profits dropped 11.8% to 105 million euro. Founded in 1989, Tempe designs and manufactures all the shoes sold by brands owned by Inditex. It employs 2,000 people, works with more than 320 suppliers all over the world and moves about 100 million pairs per year.
Inditex pulls all the weight
Inditex closed 2022 with a record revenue of 32.6 billion euro (+17.5% on 2021). Another record was set by the net profits: +27% to 4.1 billion euro. Results that also pushed Tempe’s performances (Alicante-based company owned by the García Peraltas family and the Ortega family, in equal shares.
Tempe’s 2022
Tempe closed the year 2022 with a 7.9% revenue growth: 1.41 billion euro. EBITDA reached 396 million euro (improving), while EBIT went from 153 million euro in 2021 to 125 million in 2022. Profits were also down by 11.8% to 105 million euro. Throughout the year, Inditex received 27 million euro worth of dividends from Tempe (fonte Modaes).
Structure
Tempe operates via 7 subsidiaries, in order: Tempe SA (the main one), Tempe Logística, Tempe Diseño, Tempe Trading Asia Limited, TMP Trading, Tempe México and Tempe Giyim. The first three are headquartered in Elche (Alicante). Tempe also designs Elche’s shoes, but manufactures all over the world via local third-party producers. In the last three years the company also renewed its logistical center from which shoes are distributed all over the world with a 24/48 hour timeline.
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