Dino Polska Sa · GPW:DNP
Dino Polska Sa — H1 2022 Earnings Presentation
14 slides from Dino Polska Sa's earnings presentation, Aug 18, 2022
Slide 1: 1H 2022 Financial results
1H 2022 Financial results 18th August 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 1H 2022
Our achievements in 1H 2022 +162 stores +22.4% net sales area y-o-y (+150 in 1H 2021) (+25.4 in 1H 2021 y-o-y) +45.4% sales y-o-y +25.5% LFL y-o-y (+28.3% in 1H 2021 y-o-y) (+9.5% in 1H 2021 y-o-y) +41.7% EBITDA y-o-y -0.23pp EBITDA margin y-o-y (+28.9% in 1H 2021 y-o-y) (+0.04pp in 1H 2021 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, 2022 (in brackets as of June 30, 2021) 81 119 151 192 238 295 376 472 573 710 775 2.9 (2.2) 2.9 No. of stores 1975 8.
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of H1 2022) 1124 Dino stores are equipped with their own photovoltaic installations (+322 in 1H 2022) ~40 MW total capacity of the PV panels on Dino stores ~19 GWh of electricity generated by Dino from the sun in H1
Slide 6: Significant growth of LFL sales
Significant growth of LFL sales Inflation 1.8 2.8 3.9 2.9 3.6 6.6 11.8 Sales mix (deflation) % Product split by revenue (1H 2022) 30.0% 25.5% 25.0% Non-food Fresh food 12.2% 39.1% 20.0% 14.9% 13.3% 15.0% 11.1% 12.0% 11.9% 11.1% 9.5% 10.0% 6.7% 7.1% 5.3% 3.3% 2.5% 5.0% 1.1% Dry food, 0.0% beverages,
Slide 7: High revenue growth
High revenue growth +50.3% y-o-y 4,887 Revenues (PLNm) 8,741 3,864 3,854 3,487 3,250 6,011 2,761 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 1H 2021 1H 2022 Source: Company financial statements 7 7
Slide 8: Consistent growth in results
Consistent growth in results EBITDA margin 9.5% 10.3% 8.8% 9.3% 8.6% 9.2% 9.19% 8.96% +45.4% y-o-y (EBITDA PLNm) 450.6 783.4 357.8 360.8 72.9 142.9 332.8 309.9 552.7 64.9 68.1 242.8 70.0 59.2 114.3 55.0 377.7 640.6 292.9 292.7 262.9 250.7 438.4 187.8 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 1
Slide 9: H1 2022: EBITDA bridge
H1 2022: EBITDA bridge (mPLN) 9.19% 8.96% + PLN 230.7 million +41.7% 39.4 10.1 142.9 30.2 2.1 114.3 199.1 783.4 640.6 552.7 438.4 1H 2021 1H 2021 1H 2021 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1H 2022 1H 2022 1H 2022 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA margin co
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure3 (PLNm) (PLNm) 114% 97% 105% 129% 93% 1,326 205 820 247 799 198 528 153 449 143 1,336 164 93 2Q 978 114 1,002 789 830 1Q 727 711 577 502 418 ( 20) -96 ( 105) ( 97) 2019 2020 2021 1H 2021 1H 2022 (173) ( 71) ( 98) Capex Capex as % of EBITDA 2019 2020 2021 1H 2
Slide 11: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 1.03x 1.03x 0.96x 21.9x 0.93x 0.83x 16.1x 13.6x 9.3x 2019 2020 2021 1H 2021 1H 2022 2019 2020 2021 1H 2022 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) In
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 1H: 1975 1815 stores 1473 stores (+162 1218 (+343 new) 977 stores 775 stores new) stores (+255 stores (+243 (+202 new) 628 (+147 new) new) stores new) 2016 2017 2018 2019 2020 2021 2022f 2023f 2024f 2025f 2026f 2027f 2 LFL sales growth 3 Profitability -0.23pp
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