Dino Polska Sa · GPW:DNP
Dino Polska Sa — Q1 2022 Earnings Presentation
14 slides from Dino Polska Sa's earnings presentation, May 5, 2022
Slide 1: 1Q 2022 Financial results
1Q 2022 Financial results 5th May 2022
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 1Q 2022
Our achievements in 1Q 2022 +66 new stores +23.4% net sales area y-o-y (+59 in 1Q 2021) (+24.9% at end of 1Q 2021 y-o-y) +39.6% sales y-o-y +20.4% LFL y-o-y (+24.3% in 1Q 2021 y-o-y) (+7.0% in 1Q 2021 y-o-y) +37,1% EBITDA y-o-y -0.2pp EBITDA margin y-o-y (+27.7% in 1Q 2021 y-o-y) (+0.2pp in 1Q 2021
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 Stores per 100k inhabitants as of March 31, 2022 (in brackets as of March 31, 2021) Net sales area (’000 m2) 81 119 151 192 238 295 376 472 573 710 737 2.7 No. of stores 2.4 (2.1) 7.8 (
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of Q1 2022) Dino stores are equipped with their 884 own photovoltaic installations (+82 in Q1 2022) 32.4 MW total capacity of the PV panels on Dino stores of electricity generated by Dino 23.5 GWh from the sun in Q1
Slide 6: Substantial LFL sales growth in Q1
Substantial LFL sales growth in Q1 Inflation 4.5 3.2 3.0 2.8 2.7 4.5 5.4 7.7 9.7 Sales mix Product split by revenue (1Q 2022) LFL sales growth 25.0% Non-food 20.3% 12.5% Fresh food 20.4% 20.0% 19.1% 38.6% 15.0% 12.4% 11.4% 11.7% 10.8% 10.0% 7.7% 7.8% 8.7% 7.0% 6.7% 3.2% 3.8% 5.0% 6.4% 1.7% 1.6% 0.6%
Slide 7: High revenue growth
High revenue growth Revenues (PLNm) +39.6% y-o-y 3,864 13,362 3,854 3,487 3,250 10,126 2,761 7,647 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2019 2020 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 9.5% 10.2% 9.5% 9.5% 10.3% 8.8% 9.3% 8.6% +37.1% y-o-y (EBITDA PLNm) 1,271.3 357.8 360.8 332.8 1,036.0 309.9 247.3 64.9 68.2 70.0 242.8 59.2 198.1 725.4 55.0 163.5 292.9 292.7 1,024.0 250.7 262.9 837.9 187.8 561.9 1Q 2Q 3Q 4Q 1Q 2019 2
Slide 9: 1Q 2022: EBITDA bridge
1Q 2022: EBITDA bridge (PLNm) 8.79% 8.63% + PLN 90.0 million +37.1% 74.4 4.4 1.5 0.9 70.0 6.1 55.0 332.8 261.9 262.9 262.9 242.8 187.8 1Q 2021 1Q 2021 1Q 2021 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1Q 2022 1Q 2022 1Q 2022 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA marg
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 114% 97% 105% 151% 101% 1,326 205 820 247 799 198 153 164 1,336 978 2Q 789 193 1,002 830 502 70 55 177 235 367 336 ( 20) -96 ( 105) ((12) 27) ( 43) (375) 2019 2020 2021 1Q 2021 1Q 2022 ( 27) Capex Capex as % of EBITDA -98 2019 2020 2021 1Q 2021
Slide 11: Balance sheet
Balance sheet Net debt/EBITDA(1) Interest coverage ratio(2) 1.12x 1.08x 1.03x 0.96x 21.9x 0.83x 17.1x 16.1x 9.3x 2019 2020 2021 1Q 2021 1Q 2022 2019 2020 2021 1Q 2022 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) Inte
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 1Q: 1,880 1,815 stores 1,473 stores (66 1,218 stores openings) 977 (343 775 stores (255 stores openings) stores (243 openings) (202 openings) 628 (147 openings) stores openings) 2016 2017 2018 2019 2020 2021 2022p 2023p 2024p 2025p 2026p 2 LFL growth 3 Improv
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