Eurocash S.a. · GPW:EUR
Eurocash — Q1 2025 Earnings Presentation
13 slides from Eurocash's earnings presentation, May 15, 2025
Slide 1: Eurocash Group Presentation of 1Q2025 Results
EUROCASH GROUP Presentation of 1Q2025 Results 15 May 2025
Slide 2: 1Q 2025 Results Summary
1Q 2025 Results Summary ▪ Sales: Eurocash's sales declined by 7.6% YoY in 1Q25, primarily due to a negative calendar effect and a shift in sales resulting from the excise tax increase on alcohol and tobacco products. ▪ EBITDA: Adjusted EBITDA margin remained stable. supported by improved gross margi
Slide 3: Seasonal & Excise Tax–Driven Headwinds in 1Q 2025 Food Market
Seasonal & Excise Tax–Driven Headwinds in 1Q 2025 Food Market ▪ Total Market: value dynamics of 5.1% YoY in 1Q 2025 (vs 5.6% in 1Q 2024) driven by Discounters (9.4% vs 9.0% LY). Slowed down by seasonal impact of Easter (wk13 in 2024. wk16 in 2025). ▪ WRM: down by 4.1% YoY in 1Q 2025 (vs –1.2% in 1Q
Slide 4: 1Q 2025 Sales dynamics by Segments and Business Units
1Q 2025 Sales dynamics by Segements and Business Units Wholesale Sales Growth Platforms ▪ Wholesale: Sales declined by +7.2% 8% in 1Q 2025. primarily -8.1% 274 5 421 255 6 impacted by the excise tax Other Projects 16 5.1% Other 81 increase on alcohol and 4 982 -11.9% 114 tobacco. as well as an 79 Du
Slide 5: 1Q 2025 EBITDA in Wholesale and Retail Segments
1Q 2025 EBITDA in Wholesale and Retail Segments Wholesale EBITDA in 1Q 2025 Retail EBITDA in 1Q 2025 Segment Segment 144 125 EBITDA 47 37 EBITDA (PLN m) (PLN m) -0.4 p.p. -0.2 p.p. 2.7% 2.5% 2.7% 2.3% % change PLN m % change PLN m 1Q24 1Q25 1Q24 1Q25 EBITDA margin % 1Q 24 EBITDA margin % 1Q 25 EBITD
Slide 6: Growth Platforms – Development of key formats in 1Q 2025
Growth Platforms – Development of key formats in 1Q 2025 Segment negative EBITDA contribution in-line vs. last year (PLN -11.5m) Sales development (PLNm) 23% Sales 1Q25: Active customers: +15% yoy 533 +17% yoy Orders +19% yoy 434 384 Average Basket in 1Q25: -2% yoy. 319 PLN vs 325 PLN 278 17% 217 13
Slide 7: Cost Analysis: 1Q 2025 vs. 1Q 2024
Cost Analysis: 1Q 2025 vs. 1Q 2024 ▪ Total Costs: Total Costs decreased by 1.3% vs. 1Q 2025 mainly driven by: ▪ Salary and social security expenses lower by 5.0% which was significantly lower than minimum wage rate ▪ 5.5% increase of third-party service expenses primarily due to higher agency fees a
Slide 8: Cash Conversion and Net Financial Expenses
Cash Conversion and Net Financial Expenses days Cash conversion cycle in 2024-2025 PLN m Net financial expenses in 2024-2025 20 19 15 15 10 21 24 22 20 19 15 15 14 14 15 -22 -21 -22 -28 -28 -38 -39 -46 -56 -54 -58 -55 -55 -64 -62 -58 -66 -65 -79 -82 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25
Slide 9: Net debt ratio evolution
Net debt ratio evolution Net debt/EBITDA (before IFRS16) Net debt/EBITDA (after IFRS16) PLNm PLNm 1.12 2.63 2.68 2.71 2.59 2.53 0.95 0.87 0.85 0.63 549 523 2 696 2 617 2 500 487 2 365 2 495 423 425 417 448 362 400 260 1 039 996 934 934 921 1Q24 2Q24 3Q24 4Q2024 1Q 2025 1Q24 2Q24 3Q24 4Q2024 1Q 2025
Slide 10: Profitability Improvement Through Targeted Store Closures
Profitability Improvement Through Targeted Store Closures ▪ Store Closures in 1Q25: A total of 59 unprofitable stores closed: • 19 Delikatesy Centrum (own stores) TOTAL • 40 Duży Ben Closed stores: 75* 35* 40 ▪ Planned Closures in 2Q25: An additional 16 Delikatesy Centrum stores to be closed, bringi
Slide 11: Key Financials 1Q 2025
Key Financials 1Q 2025 1Q 2025 1Q 2024 Change %* PLN million Sales revenues (traded goods. materials) 6 873.8 7 436.5 -7.6% Gross profit (loss) on sales 939.8 970.6 -3.2% Gross profitability on sales (%) 13.7% 13.1% 0.6 p.p. EBITDA 121.1 136.5 -11.3% (EBITDA margin %) 1.9% 1.8% 0.1 p.p. EBIT (28.9)
Slide 12: Q&A
Slide 13: Thank you!
Thank you!