Dfi Retail Group Holdings Limited · SGX:D01
Dfi Retail — H1 2026 Earnings Presentation
24 slides from Dfi Retail's earnings presentation, Jul 29, 2026
Slide 1: 2026 Half-Year Results Presentation
DFI Retail Group 2026 Half-Year Results Presentation 29 July 2026
Slide 2: Disclaimer
Disclaimer This Document (the ‘Document’) is for information purposes only. This Document is not intended to form the basis of any investment decision nor does it constitute any recommendation or advice as to how the reader should, or should not, act on any matter. The information in this Document i
Slide 3: Key Highlights, Financial Results, Strategy & Business Updates, Business Outlook
Key Highlights Financial Results Strategy & Business Updates Business Outlook
Slide 4: Key Business Highlights
Key Business Highlights Retail excellence • Consistent improvement in like-for-like (LFL) sales trend • Business performance improved through sharpened growth priorities and low-cost operating model • Health & Beauty deepened leadership in wellness across markets • Convenience and Home Furnishings r
Slide 5: Key Financial Highlights
Key Financial Highlights Continuing business1 only US$m, unless otherwise stated Subsidiary revenue (US$m) Underlying profit (US$m) • Underlying profit from continuing businesses1 +44% YoY to US$117m • Subsidiary revenue from continuing businesses2 +4.3% YoY or +2.8% +4.3% +44.3% LFL 3,970 4,139 117
Slide 6: Financial Results
Key Highlights Financial Results Strategy & Business Updates Business Outlook
Slide 7: Income Statement
Income Statement 1H26 1H251 1H25 (US$m) Change (Reported) (Restated) (Reported) Revenue From Subsidiaries 4,139 3,970 +4% 4,387 Revenue From Maxim’s 1,422 1,373 +4% 1,373 Subsidiaries Underlying Profit 101 68 +49% 75 Share of Underlying Profit – Maxim’s 16 14 +15% 14 Share of Underlying Profit – Oth
Slide 8: Sales Summary
Sales Summary Continuing business1 only US$m, unless otherwise stated Sales breakdown by format Subsidiary LFL sales growth2 +2.8% Health & Beauty Convenience Maxim’s3 Total: +7.9%LFL (+6.6% ccy4) +6.1% Total: +4.4% Total: +3.5% LFL: +6.1% LFL: +1.7% (ex.LFL CIG+1.7% +2.4%) +3.5% 1,280 1,381 1,369 1
Slide 9: Operating Profit by Format
Operating Profit by Format Continuing business1 only, prior-year figures restated assuming cost reallocation impact2 US$m, unless otherwise stated Health & Beauty Convenience +1.7% +2.1% 102 107 109 $15m one-off 44 36 37 cigarette windfall gain in 1Q24 29 1H243 1H25 1H26 1H24 1H25 1H26 Margin: 8.4%
Slide 10: Subsidiaries Profit and Underlying Profit
Subsidiaries Profit and Underlying Profit US$m, unless otherwise stated Underlying net profit - Subsidiaries Reported Continuing businesses1 Key highlights +48.5% 101 101 • Underlying subsidiary net profit from continuing 73 75 80 68 businesses1 grew 49% YoY to reach US$101m, 683 resulting in 2.4% n
Slide 11: Cash Flow
Cash Flow US$m, unless otherwise stated Operating cash flow +16.4% 178 153 Key highlights • Operating cash flow after lease payments 1H25 1H26 increased by 16% to US$178m, supported by underlying operating profit growth • Free cash flow1 decreased by 5% YoY due to Free cash flow increased capex inve
Slide 12: Capital Expenditure and Balance Sheet
Capital Expenditure and Balance Sheet US$m, unless otherwise stated Capital expenditure Key highlights • Capex increased by 46% year-on-year to US$93m, +46.0% tracking in-line with full-year guidance of US$200-220m 93 • Continued investment in our strategic priorities and key growth drivers include:
Slide 13: Returns to Shareholders
Returns to Shareholders Ordinary interim dividend declared per share (US¢) 6.20 3.00 3.50 3.50 Key highlights 1.00 • Interim dividend of US¢6.20, 77% higher than 1H25 1H22 1H23 1H24 1H25 1H26 • Enhanced interim dividend distribution underscores strong underlying business momentum and strong cash flo
Slide 14: Strategy & Business Updates
Key Highlights Financial Results Strategy & Business Updates Business Outlook
Slide 15: Health & Beauty Update
Health & Beauty Update Continuing business1 only US$m, unless otherwise stated Key Highlights Sales Total: +7.9% (+6.6% ccy) • +8% in sales1 and +6% LFL, underpinned by continued market share LFL: +6.1% gains across key operating markets 1,381 • Hong Kong/Macau LFL sales +5% driven by deepening well
Slide 16: Convenience Update
Convenience Update US$m, unless otherwise stated Sales Key Highlights Total: +4.4% LFL: +1.7% (ex. CIG +2.4%) • Sales grew 4% YoY or 2% LFL, with increasing RTE sales penetration to 24%, or 34% excl. cigarettes 1,179 1,168 • HK LFL sales returned to growth in 2Q26 following 10 consecutive 1,129 quar
Slide 17: Food Update
Food Update Continuing business1 only US$m, unless otherwise stated Sales Key Highlights Total: +1.4% • Food from continuing operations1 +1% YoY. Continued improvement LFL: -0.2% (+0.5% in 2Q) in LFL sales performance to +0.5% in 2Q26 1,148 1,133 1,148 • Price reinvestment in core basket items, stro
Slide 18: Home Furnishings Update
Home Furnishings Update US$m, unless otherwise stated Sales Key Highlights Total: +3.6% (+4.5% ccy) LFL: +3.7% • Strong turnaround in LFL sales +4%, vs. -6% in 1H25 349 340 • Hong Kong LFL sales recovered to positive growth of 3% 328 supported by sharpened focus on value, local relevance and food •
Slide 19: DFI's Strong Retail Core Reinforces a Highly Accretive DFI Omni Platform
DFI’s Strong Retail Core Reinforces a Highly Accretive DFI Omni Platform Loyalty • Total loyalty members of 36m, including 6m yuu members in HK • Capture a significant share of customer missions across formats • Growing yuu active member1 base, supported by more personalised and targeted promotions
Slide 20: Accelerating DFIQ Media Platform with Cody HK Acquisition
Accelerating DFIQ Media Platform with Cody HK Acquisition Investment rationale • Advance DFIQ Media strategy to build a full-funnel advertising solution in HK • Acquire 100% stake in Cody Hong Kong, one of the leading outdoor advertising service providers in Hong Kong • Diversify DFI’s profit pool w
Slide 21: Business Outlook
Key Highlights Financial Results Strategy & Business Updates Business Outlook
Slide 22: Revised Full-Year 2026 Outlook
Revised Full-Year 2026 Outlook Previous Guidance Revised Guidance Revenue from Subsidiaries 2 – 3% organic growth1 3 – 4% organic growth1 US$270 – 300M US$285 – 305M Underlying Profit Attributable to Shareholders Representing 12-25% YoY growth2 Representing 18-27% YoY growth2 Capex US$200 – 220M Unc
Slide 23: Q&A
Q&A 2026 Half-Year Results Presentation
Slide 24: Thank You
Thank You If you have any queries, please email DFIinvestor@DFIretailgroup.com