Dino Polska Sa · GPW:DNP
Dino Polska Sa — H1 2021 Earnings Presentation
14 slides from Dino Polska Sa's earnings presentation, Aug 20, 2021
Slide 1: 1H 2021 Financial results
1H 2021 Financial results 20th August 2021
Slide 2: Disclaimer
Disclaimer Neither this presentation (the “Presentation”) nor any copy of it nor the information contained herein being issued, and nor may this Presentation nor any copy of it nor the information contained herein be distributed directly or indirectly to or into, the United States, Canada, Australia
Slide 3: Our achievements in 1H 2021
Our achievements in 1H 2021 +150 stores +25.4% net sales area y-o-y (+84 in 1H 2020) (+23.9 in 1H 2020 y-o-y) +28.3% sales y-o-y +9.5% LFL y-o-y (+33.9% in 1H 2020 y-o-y) (+13.3 in 1H 2020 y-o-y) +28.9% EBITDA y-o-y +0.04pp EBITDA margin y-o-y (+36.9% in 1H 2020 y-o-y) (+0.20pp in 1H 2020 y-o-y) 3
Slide 4: Network expansion – higher number of stores and geographic composition
Network expansion – higher number of stores and geographic composition Network expansion to date Regional coverage Net sales area (’000 m2) Stores per 100k inhabitants as of June 30, 2021 (in brackets as of June 30, 2020) 50 81 119 151 192 238 295 376 472 573 633 2.2 (1.6) 1.4 No. of stores 6.3 (0.7
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of H1 2021) 628 Dino stores are equipped with their own photovoltaic installations (+263 in H1 2021) ~23MW total capacity of the PV panels on Dino stores ~7GWh of electricity generated by Dino from the sun in H1 2021
Slide 6: Significant growth of LFL sales
Significant growth of LFL sales Annual Inflation 1.6 1.7 1.8 2.8 3.9 2.9 3.6 Sales mix (deflation) % Product split by revenue (1H 2021) 20.0% Non-food Fresh food 16.0% 14.7% 12.8% 38.0% 13.3% 12.0% 11.9% 11.1% 12.0% 9.5% 9.1% 6.7% 7.1% 8.0% 3.6% 3.3% 4.0% 2.5% 1.7% 1.1% Dry food, 0.0% beverages, alc
Slide 7: High revenue growth
High revenue growth +31.8% y-o-y 3,250 Revenues (PLNm) 6,011 2,676 2,764 2,761 2,465 4,686 2,220 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 1H 2020 1H 2021 Source: Company financial statements 7 7
Slide 8: Consistent growth in results and the EBITDA margin
Consistent growth in results and the EBITDA margin EBITDA margin 11.0% 11.3% 9.15% 9.19% 9.7% 8.8% 9.5% 8.6% +29.8% y-o-y (EBITDA PLNm) 552.7 313.3 309.9 293.9 53.7 428.8 114.3 238.7 242.8 59.2 50.5 190.1 94.0 47.5 55.0 46.5 259.6 250.7 438.4 243.4 191.2 187.8 334.8 143.6 1Q 2020 2Q 2020 3Q 2020 4Q
Slide 9: H1 2021: EBITDA bridge
H1 2021: EBITDA bridge (mPLN) 9.15% 9.19% + PLN 123.9 million +28.9% 22.5 114.3 7.5 18.9 2.2 94.0 94.7 552.7 428.8 438.4 438.4 438.4 334.8 1H 2020 1H 2020 1H 2020 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1H 2021 1H 2021 1H 2021 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure3 (PLNm) (PLNm) 117% 114% 97% 102% 128% 820 799 198 643 153 529 22 125 164 93 137 114 112 789 94 1,000 502 828 384 418 709 310 634 2Q 1Q 436 ( 20) -96 ( 97) ( 71) (209) ( 57) 2018 2019 2020 1H 2020 1H 2021 2018 2019 2020 1H 2020 1H 2021 Profit before tax D&A C
Slide 11: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 1.3x 20.8x 1.0x 1.0x 1.0x 1.0x 16.1x 9.5x 9.3x 2018 2019 2020 1H 2020 1H 2021 2018 2019 2020 1H 2021 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA (adj.) for the last twelve months (2) I
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 1H: 1622 1473 stores 1218 stores (+150) 977 stores 775 stores (+255) (+243) stores (+202) 628 (+147) stores 2016 2017 2018 2019 2020 2021p 2022p 2023p 2024p 2025p 2 LFL sales growth 3 Improving profitability + 0.04 pp 9.5% EBITDA margin improvement LFL sales
Slide 13: Q&A
Q&A 13
Slide 14: Contact information
Contact information Grzegorz Uraziński Head of Investor Relations grzegorz.urazinski@marketdino.pl +48 695 234 561 ul. Ostrowska 122 63-700 Krotoszyn Poland http://grupadino.pl 14