The non-EU markets have become a strong driver for Tempe, pushing its billing record in 2022 and helping the company more than double its total sales. This trend is reflected in the consolidated accounts filed with the Trade Registry by the group controlled by Inditex and Vicente García, providing corroboration for the figures showcased in Inditex’s annual report, which cited a global turnover of 1,410 million euros and a 105 million euro profit.
The newly released balance sheets allow Tempe to break down that turnover by major markets, painting a clearer picture of the firm’s progress throughout the year. A striking feature is the surge in sales outside Europe, which rose to 626.6 million euros from 538.7 million a year earlier. That uptick of 16% exceeds the company’s overall growth rate of 8%, underscoring the outsized contribution from non-EU markets.
This improvement is largely driven by markets beyond the European Union, which were slow to recover after the pandemic. Many Asian countries maintained restrictions longer than Europe, and 2022 was the year those economies regained momentum, helping Tempe expand its footprint in those regions.
In addition, the Spanish market performed solidly, with Tempe achieving a yearly sales volume of 265.9 million euros, up 12%. Conversely, after a robust post-pandemic rebound, the European market saw a 2% decline, bringing the group’s total turnover in Europe to 518 million euros.
Fewer national purchases
The balance sheets reflect Tempe’s distribution pattern as goods move from the Elche facilities to the seven Inditex brands that rely on Tempe products: Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Zara Home.
Purchasing from Spanish suppliers dropped by as much as 20%, totaling 125.2 million euros versus 155.6 million euros the previous year. Purchases from other European producers also declined, standing at 24.4 million euros and showing a modest 7.6% year-over-year increase.
In contrast, Tempe’s purchases from non-EU suppliers rose by 3.5%, now accounting for about 85% of all supplies and totaling 847 million euros according to the same sources.
The group, which solely handles design and marketing for Inditex footwear and accessories and outsources production, employed about 2,000 people by year-end, with 2,141 workers, a decrease of 18 from the previous year. Of these, 1,480 were in corporate services and 661 in commercial services.
Additionally, the accounts confirm that Tempe has issued dividends to shareholders totaling 54 million euros, with 50% of the company’s equity held by Amancio Ortega and the García Peralta family.