Dino Polska Sa · GPW:DNP
Dino Polska Sa — 9M 2023 Earnings Presentation
13 slides from Dino Polska Sa's earnings presentation, Nov 2, 2023
Slide 1: 1Q-3Q 2023 Financial results
1Q-3Q 2023 Financial results 2nd November 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-3Q 2023
Our achievements in 1Q-3Q 2023 +184 stores +13.4% net sales area y-o-y (+256 in 1Q-3Q 2022) (+21.9% at the end of 3Q 2022 y-o-y) +34.4% sales y-o-y +20.6% LFL y-o-y (+48.5% in 1Q-3Q 2022 y-o-y) (+28.3% in 1Q-3Q 2022 y-o-y) +27.3% EBITDA y-o-y -0.5pp EBITDA margin y-o-y (+44.9% in 1Q-3Q 2022 y-o-y) (
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 September 30, 2023 (in brackets as of September 30, 2022) 119 151 192 238 295 376 472 573 710 848 921 3.6 (3.0) 4.8 No. of sto
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of 1Q-3Q 2023) Dino stores are equipped with their 2010 own photovoltaic installations (+309 in 1Q-3Q 2023) total capacity of the PV panels 78 MW on Dino stores of electricity generated by Dino 60 GWh from the sun in
Slide 6: Significant growth of LFL sales
Significant growth of LFL sales Inflation % 5.1 14.4 4.2 13.3 13.2 Sales mix Food Product split by revenue (1Q-3Q 2023) inflation % 3.2 15.4 2.0 13.2 18.0 LFL sales growth 28.5% 28.3% Non-food 11.4% 20.6% Fresh food 40.3% 12.4% 9.9% Other food1 48.3% FY FY 1Q-3Q 1Q-3Q 1Q-3Q 2021 2022 2021 2022 2023
Slide 7: High revenue growth
High revenue growth +28.1% y-o-y 18,968 Revenues (PLNm) 6,875 6,549 5,693 5,544 14,109 5,368 4,887 3,854 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 1Q-3Q 2022 1Q-3Q 2023 Source: Company financial statements 7 7
Slide 8: Consistent growth in EBITDA result
Consistent growth in EBITDA result EBITDA margin 10.0% 9.4% 9.2% 9.1% 8.7% 8.6% 8.3% 9.4% 8.9% +21.2% y-o-y (EBITDA PLNm) 1,679.1 649.5 571.4 262.8 536.0 518.5 91.0 1,319.5 450.6 458.2 89.3 76.5 80.8 219.4 332.8 72.9 82.5 70.0 558.5 1,416.3 459.5 437.7 482.1 1,100.1 377.7 375.7 262.9 1Q 2022 2Q 2022
Slide 9: 1Q-3Q 2023: EBITDA bridge
1Q-3Q 2023: EBITDA bridge (PLNm) 9.35% 8.85% + PLN 359.7 million +27.3% 19.3 7.3 262.8 156.3 219.4 378.9 245.6 1,679.1 1,319.5 1,416.3 1,100.1 9M 2022 9M 2022 9M 2022 Δ Sale at a Δ Costs Δ Sale Δ G&A Δ Other operating 9M 2023 9M 2023 9M 2023 EBITDA D&A EBIT constant margin of sale and marketing inco
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 97% 105% 79% 85% 50% 1,253 1,458 31 1,326 300 263 205 910 820 247 219 198 1,446 1,401 1,305 1,336 1,125 978 996 1,002 789 846 ( 96) ( 105) ( 213) ( 141) ( 71) 2020 2021 2022 1Q-3Q 2022 1Q-3Q 2023 ( 392) ( 93) ( 57) 2020 2021 2022 1Q-3Q 2022 1Q-3
Slide 11: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 0.96x 21.9x 0.83x 0.82x 0.76x 16.1x 12.0x 10.9x 0.41x 2020 2021 2022 3Q 2022 3Q 2023 2020 2021 2022 3Q 2023 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) I
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 9M: 2340 2156 stores 1815 stores (+184 1473 stores (+344 new) 1218 stores (+343 new) 977 stores (+255 new) 775 stores (+243 new) stores (+202 new) 628 (+147 new) stores new) 2016 2017 2018 2019 2020 2021 2022 2023f 2024f 2025f 2026f 2027f 2028f 2 LFL sales gr
Slide 13: 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 13