MADRID (Reuters) – The family office of Spanish billionaire Amancio Ortega, founder and main shareholder of fashion group Inditex, posted net profit of 666 million euros in 2020, down 62.5% from 1.778 billion in 2019, as pandemic measures hit its main businesses.
Pontegadea, the Ortega family investment vehicle, controls a 59.29% stake in Inditex and manages a portfolio of property investments.
Like other fashion groups, Inditex, whose brands include clothing chains Zara and Massimo Dutti, suffered heavily last year as lockdown measures brought retail to a halt for months.
Inditex paid Pontegadea a total dividend of 646 million euros for 2020, down from 1.626 billion the year before, the group said in a statement.
Pontegadea donated 163 million euros to the Amancio Ortega Foundation last year, the company added.
(Reporting by Corina Pons; editing by Jason Neely)
