Dino Polska Sa · GPW:DNP
Dino Polska Sa — Q1 2023 Earnings Presentation
14 slides from Dino Polska Sa's earnings presentation, May 4, 2023
Slide 1: 1Q 2023 Financial results
1Q 2023 Financial results 4th May 2023
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 2023
Our achievements in 1Q 2023 +54 new stores +18.0% net sales area y-o-y (+66 in 1Q 2022) (+23.4% at end of 1Q 2022 y-o-y) +43.8% sales y-o-y +27.2% LFL y-o-y (+39.6% in 1Q 2022 y-o-y) (+20.4% in 1Q 2022 y-o-y) +37.7% EBITDA y-o-y -0.37 pp EBITDA margin y-o-y (+37.1% in 1Q 2022 y-o-y) (-0.16 pp in 1Q
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, 2023 (in brackets as of March 31, 2022) Net sales area (’000 m2) 119 151 192 238 295 376 472 573 710 848 869 3.3 No. of stores (2.7) 3.8 9.2
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of Q1 2023) Dino stores are equipped with their 1763 own photovoltaic installations (+62 in Q1 2023) 68.2 MW total capacity of the PV panels on Dino stores (+111% y-o-y) of electricity generated by Dino 7.6 GWh from
Slide 6: Substantial LFL sales growth in Q1
Substantial LFL sales growth in Q1 Inflation 2.7 4.5 5.4 7.7 9.7 13.9 16.3 17.3 17.0 Sales mix Product split by revenue (1Q 2023) LFL sales growth Non-food 35.0% 33.2% 11.8% 29.8% 28.9% Fresh food 30.0% 27.2% 42.0% 25.0% 21.9% 22.9% 20.4% 19.1% 20.0% 17.4% 15.0% 11.7% 13.4% 10.8% Other 8.7% 10.0% 7.
Slide 7: High revenue growth
High revenue growth Revenues (PLNm) +43.8% y-o-y 19,802 5,693 5,544 5,368 4,887 13,362 3,854 10,126 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2020 2021 2022 Source: Company financial statements 7 7
Slide 8: Consistent growth in EBITDA result
Consistent growth in EBITDA result EBITDA margin 10.2% 9.5% 10.0% 9.3% 8.6% 9.2% 9.1% 8.3% +37.7% y-o-y (EBITDA PLNm) 1,837.9 536.0 518.5 450.6 458.2 300.1 76.5 80.8 1,271.3 72.9 82.5 1,036.0 332.8 247.3 70.0 198.1 459.5 1,537.8 437.7 377.7 375.7 1,024.0 262.9 837.9 1Q 2Q 3Q 4Q 1Q 2020 2021 2022 202
Slide 9: 1Q 2023: EBITDA bridge
1Q 2023: EBITDA bridge (PLNm) 8.6% 8.3% + PLN 125 million +37.7% 115.3 16.7 2.7 82.5 49.0 70.0 70.8 458.2 375.7 332.8 262.9 1Q 2022 1Q 2022 1Q 2022 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1Q 2023 1Q 2023 1Q 2023 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA margin costs in
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 97% 105% 79% 101% 68% 1 253 1 326 300 205 820 247 198 1,446 1,402 1,336 243 1,002 978 789 83 70 336 311 235 334 ( 96) ( 105) ( 117) 2020 2021 2022 1Q 2022 1Q 2023 ( 43) ( 392) ( 375) ( 56) ( 57) ( 27) Capex Capex as % of EBITDA ( 98) 2020 2021 2
Slide 11: Balance sheet
Balance sheet Net debt/EBITDA(1) Interest coverage ratio(2) 1.12x 0.96x 21.9x 0.83x 0.76x 0.77x 16.1x 10.9x 10.6x 2020 2021 2022 1Q 2022 1Q 2023 2020 2021 2022 1Q 2023 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) Int
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 1Q: 2,210 2,156 stores 1,815 stores (54 1,473 stores (344 1,218 openings) stores (343 openings) 977 stores 775 (255 openings) stores (243 stores openings) (202 openings) (147 openings) 628 openings) stores 2016 2017 2018 2019 2020 2021 2022 2023e 2024e 2025e
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