Zabka Group · GPW:ZAB
Zabka — Q3 2026 Earnings Presentation
21 slides from Zabka's earnings presentation, Oct 27, 2026
Slide 1: Q3 2026 Results Presentation
Q3 2026 Results Presentation 27 October 2026
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Zabka Group S.A. with its registered office in Luxembourg, Grand Duchy of Luxembourg (the “Company”, together with its subsidiary undertakings, the “Group”) to provide a general overview of the Company and the Group through a set
Slide 3: Alternative Performance Measures - Disclaimer
Alternative Performance Measures - Disclaimer This presentation contains certain financial metrics which are not defined or specified under IFRS and therefore qualify as Alternative Performance Measures (“APMs”) in accordance with the ESMA Guidelines on Alternative Performance Measures (ESMA/2015/14
Slide 4: Today's Presenters
Today’s Presenters Tomasz Suchański Tomasz Blicharski Marta Wrochna- Group CEO, Group Chief Strategy & Łastowska Chairman of the Development Officer, Group CFO Group CEO Designate Board 4
Slide 5: Strategic Highlights and Market Environment
Strategic Highlights and Market Environment
Slide 6: Q3 2026: Strong execution supporting growth, margin progression and cash generation
Q3 2026: Strong execution supporting growth, margin progression and cash generation Q3 26 Sales to End Customers* Q3 26 Like-for-Like* Store network1 as of 30 September 2026 PLN 9.6bn +3.5% 13,405 +12.3% YoY +1,410 YoY Gross store openings2 Q3 26 Adjusted EBITDA* Q3 26 Adjusted EBITDA margin3 Q3 26
Slide 7: External environment was more mixed in the third quarter
External environment was more mixed in the third quarter, with consumer confidence contrasting with subdued grocery spend Mixed macro environment weighed on consumer fundamentals... …still underscoring Żabka’s ability to deliver market share gains across different market conditions ▪ Inflationary pr
Slide 8: Strategic Pillars update
Strategic Pillars update LfL Growth LfL Growth LfL Growth ini ini ini t t t iti iti iti ati ati n n ati n rk expansio rk expansio rk expansio ves ves ves two two two Ne Ne Store openings on track with the ...with data-driven customer ...and New Growth Engines expanding s s Ne es e e gin gin gin En E
Slide 9: Financials
Financials
Slide 10: Key Financial Highlights: Profitable growth underpinned by operational resilience
Key Financial Highlights: Profitable growth underpinned by operational resilience, robust cash generation and further balance sheet strengthening Q3 26 StEC Q3 26 LfL New Q2’25 store Gross openings Profit StEC reached PLN 9.6bn (+12.3% YoY), LfL stood at 3.5%, broadly in line with CPI. 365 new store
Slide 11: Resilient growth and continued efficiency improvements keep us on track
Resilient growth and continued efficiency improvements keep us firmly on track to deliver on our profitability ambitions Key financial metrics Q3 YTD Selected KPIs Q3 26 Q3 25 Δ YoY 9M 26 9M 25 Δ YoY Healthy mix of organic growth with LFL broadly in line with CPI inflation and expansion with 365 new
Slide 12: Solid adjusted EBITDA delivery reflecting topline growth and stronger profitability in Poland
Solid adjusted EBITDA delivery reflecting topline growth and stronger profitability in Poland x Adjusted EBITDA % of Sales to End Customers (PLNm, Q3 2026) Żabka Group excl. NGE, Conso. eliminations & Adj. ▪Further Adj. EBITDA margin expansion and Reclass. reflects continued operating leverage as th
Slide 13: Robust cash generation underscores quality and resilience of our business model
Robust cash generation once again underscores the quality and resilience of our business model… Q3 2025 Q3 2026 (PLNm) (PLNm) ▪Strong cash flow generation, driven by: ▪ Healthy adjusted EBITDA growth underpins our cash generation. Adjusted EBITDA 1,279 1,489 ▪ Capex growth in Q3 2026 was driven by d
Slide 14: ...driving further balance sheet strengthening
...driving further balance sheet strengthening Net leverage1: Net debt excl. leases2 / adjusted EBITDA post-rent* 1.5x (0.4x) • Leverage improved from 1.0x to 0.7x year-on- 1.2x 1.1x 1.0x 1.0x year and remained flat versus Q2 following the Net debt excl. leases / 0.7x 0.7x dividend payment, supporte
Slide 15: We remain confident in the medium-term outlook and reiterate our expectations
We remain confident in the medium-term outlook and reiterate our expectations New stores 2026 We aim to open over 1,300 new stores in 2026 and continue targeting opening 1,300+ c. 1,300+ stores p.a. in the medium-term in Poland and Romania. LfL 2026 We anticipate delivering mid-to-high single-digit
Slide 16: Q&A
zabka group Q&A
Slide 17: Appendix
group Appendix s) 3 2)
Slide 18: Strong Q3 & 9M 2026 Performance Across All Key Metrics
Strong Q3 & 9M 2026 Performance Across All Key Metrics Gross Profit & Margin Adjusted EBITDA1 & Margin Adjusted Net Profit & Margin Free Cash Flow (PLNm / %) (PLNm / %) (PLNm / %) (PLNm) 17.8% 18.6% 15.0% 15.6% 5.9% 6.0% +17.3% +16.5% +15.1% +13.2% 1,776 1,489 1,514 1,279 736 572 639 505 Q3 2025 Q3
Slide 19: APMs – Abbreviations and Definitions
APMs – Abbreviations and Definitions This slide provides the definitions, relevance explanations and calculation methodologies for all Alternative Performance Measures (“APMs”) referenced in this Presentation. These measures are not defined under IFRS and are therefore presented in accordance with t
Slide 20: APMs – Abbreviations and Definitions
APMs – Abbreviations and Definitions APMs – Abbreviations and Definitions Table (2/2) No. APM Abbreviation Definition Relevance EPS is a key indicator of value creation for shareholders, illustrating Earnings per share (EPS) represents a company’s net profit attributable to common shareholders, divi
Slide 21: Thank you
Thank you