Distribuidora Internacional De Alimentacion Sa · BME:DIA
Distribuidora Internacional De Alimentacion Sa — H1 2026 Earnings Presentation
34 slides from Distribuidora Internacional De Alimentacion Sa's earnings presentation, Jul 30, 2026
Slide 1: 1H 2026 Results Presentation
1H 2026 Results Presentation 30 July 2026
Slide 2: Legal disclaimer
Legal disclaimer This presentation contains forward-looking statements and information regarding Distribuidora Internacional de Alimentación, S.A. (Dia) and its subsidiaries based on the current beliefs of Dia's management, its main expectations and assumptions, as well as the information currently
Slide 3: Our speakers
Our speakers Martín Tolcachir Guillaume Gras Group CEO Group CFO 3
Slide 4: Presentation outline
Presentation outline Dia Consolidates its position as the Group’s engine for growth, delivering an 11.6% sales 1. increase — double the market average — and a 26-bps market share gain in 1H 2026 Spain Dia Confirms the stabilisation trend and is well positioned to capitalise on the 2. gradual recover
Slide 5: Dia Spain
YOUR, NATURAL CS Dia Spain
Slide 6: Expansion plan accelerates Dia Spain's growth to 11.6% in 1H 2026
1.A Expansion plan accelerates Dia Spain’s growth to 11.6% in 1H 2026 • 11.6% total sales increase (double the market average) to €2.95 Bn and a market share gain of +26-bps • Driven by 8.4% volume-led like-for-like (LfL) growth, complemented by a 3.2% contribution from organic expansion • Low inter
Slide 7: Sustained like-for-like volume growth driven by a winning customer value proposition
1.B Sustained like-for-like volume growth driven by a winning customer value proposition • The strong 8.0% volume growth validates our proximity model, meeting consumer demands for time and budget optimization without compromising on excellence Unrivalled Proximity Leadership Complete & Balanced Ass
Slide 8: High-quality fresh & Dia private label driving customer visit frequency and loyalty
1.C High-quality fresh & Dia private label driving customer visit frequency and loyalty • Our focus on locally sourced fresh and high-quality, affordable Dia Private Label drove a strong +14% sales growth in both categories Sale of Fresh Products Dia Private Label Sales GSUB €m % Share of GSUB GSUB
Slide 9: Loyalty program & e-commerce bringing us closer to our customers every day
1.D Loyalty program & e-commerce bringing us closer to our customers every day • Club Dia active members accounted for 57% of total sales with a +12.7% YoY growth in 1H26, driven by an expanding customer base • Dia’s online platform achieved +16.1% YoY growth, successfully offsetting a temporary slo
Slide 10: Expansion plan: Accelerating the rollout of new stores in selected locations
1.E Expansion plan: Accelerating the rollout of new stores in selected locations • We are leveraging our scalable franchise model to accelerate the rollout of new stores in high-potential locations • 58 supermarket openings in 1H 2026 (48 net additions), driving organic growth and shared profitabili
Slide 11: Third next-generation logistics platform opened in Leon in 2Q26
1.F Third next-generation logistics platform opened in Leon in 2Q26 • Executing our strategic roadmap to upgrade six logistics platforms by 2029 • Supporting sales growth, driving operating efficiency and mitigating rising transport costs New logistic platform in León Logistics Footprint • Capacity
Slide 12: Sustainability Plan – 1H 2026 Highlights
1.G Sustainability Plan – 1H 2026 Highlights DIA PEOPLE ACCESSIBLE WELLBEING • Progress in diversity KPIs • Raising customer and social • Top 100 Merco Talento Ranking awareness by communicating (#58) our commitment to food accessibility and healthy habits • New app for employees to be close through
Slide 13: Dia Argentina
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Slide 14: 1H 2026 sales volume confirms the stabilization trend
2.A 1H 2026 sales volume confirms the stabilization trend • While the year-on-year comparison still shows a 4.6% decline in sales volume in 1H 2026, the sequential trend confirms the stabilization path, backed by a 10-bps market share gain on a like-for-like basis over the same period Sales volume 1
Slide 15: Industry consensus points to a gradual supermarket consumption recovery ahead
2.B Industry consensus points to a gradual supermarket consumption recovery ahead • With major subsidy cuts and public sector downsizing now completed, the consolidation of Argentina's macroeconomic framework and relative price stability are expected to enable a sustainable increase in real disposab
Slide 16: Dia Argentina is well positioned to capitalize on improving food consumption dynamics
2.C Dia Argentina is well positioned to capitalize on improving food consumption dynamics • Dia Argentina is well positioned to capitalize on the gradual recovery expected in food consumption, leveraging its strong competitive position and lean cost base to drive operating leverage and cash generati
Slide 17: Financial Review
3. Financial Review
Slide 18: Dia Spain: Strong sales growth driving operating leverage
3.A Dia Spain: Strong sales growth driving operating leverage • +17% adj. EBITDA growth to €160m • +31-bps adj. EBITDA margin expansion to 6.5% • +30% comparable net income growth (excluding a one-off fiscal adjustment of €9m reported in 1H 2025) to €51m GSUB 1 and Net Sales 2 Adjusted EBITDA 3 Net
Slide 19: Dia Spain: High cash conversion driving accelerated expansion and deleveraging
3.B Dia Spain: High cash conversion driving accelerated expansion and deleveraging • +31% increase in comparable¹ operating cash flow to €172m, driven by strong performance and favourable working capital seasonality • +76% capex increase to €101m driven by the accelerated rollout of new stores • €45
Slide 20: Dia Spain: Financial leverage down to 0.6x, backed by robust liquidity
3.C Dia Spain: Financial leverage down to 0.6x, backed by robust liquidity • Net financial debt falls 18% to €206m • Financial leverage reduced to an outstanding 0.6x Adj. EBITDA • Robust €345m cash balance ensures maximum financial flexibility Net Financial Debt Breakdown Gross Debt Maturities 4 Ne
Slide 21: Dia Argentina: Resilient operating performance amid FX headwinds
3.D Dia Argentina: Resilient operating performance amid FX headwinds • 12.4% YoY sales decline, primarily driven by a 37.4% Euro appreciation alongside 4.6% lower volumes • +30-bps adj. EBITDA margin expansion to -0.2% (nearing breakeven), driven by 2025 efficiency measures GSUB 1 and Net Sales 2 Ad
Slide 22: Dia Argentina: Safeguarding a net cash position of €40m
3.E Dia Argentina: Safeguarding a net cash position of €40m • Rigorous financial discipline amid stabilising sales volumes and seasonal working capital headwinds • Ongoing real estate sale-and-leasebacks to reinforce the business self-funding capacity • Access to up to €75m in local credit facilitie
Slide 23: Closing remarks
4. Closing remarks
Slide 24: 1H 2026 Results: Delivering long-term value
4.A 1H 2026 Results: Delivering long-term value 1H 2026 Results confirm the success of our proximity model and the 1 real impact of our 'Growing every day' strategic plan Sustained growth momentum in Spain is driving operating leverage 2 and strong cash flow generation Accelerating the rollout of ou
Slide 25: Appendix
Appendix
Slide 26: Gross and net sales YoY change
Gross and net sales YoY change Q2 2026 1H 2026 YoY change (%) YoY change (%) At constant At current (3) At constant At current (3) (1) 3T24 €m LfL (2) €m LfL (2) Gross Sales Under the Dia Banner FX FX FX FX Dia Spain 1,542.2 8.8% 12.1% 2,953.8 8.4% 11.6% Dia Argentina 370.4 (5.3%) 20.8% (4.1%) 722.5
Slide 27: P&L summary
P&L summary 1H 2026 1H 2025 YoY Change Argentina IAS-29 Argentina Argentina IAS-29 Argentina Argentina Argentina Spain Group Spain Group Spain Group €m Exc. IAS-29 effect Inc. IAS-29 Ex. IAS-29 effect Inc. IAS-29 Ex. IAS-29 Inc. IAS-29 Gross Sales Under Banner 2,953.8 722.5 0.0 722.5 3,676.2 2,645.8
Slide 28: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA 1H 2026 1H 2025 YoY Change €m Spain Argentina Group Spain Argentina Group Spain Argentina Group EBITDA 237.6 0.1 232.5 214.1 (3.9) 210.2 23.5 4.0 22.3 Expenses (Income) related to asset closures 4.8 0.6 5.4 0.8 0.0 0.8 4.0 0.6 4.6 Expenses related to efficiency proc
Slide 29: Cash Flow summary, based on Adjusted EBITDA
Cash Flow summary, based on Adjusted EBITDA 1H 2026 1H 2025 YoY Change €m Spain Argentina Group Spain Argentina Group Spain Argentina Group Adjusted EBITDA 159.9 (1.3) 158.5 136.7 (3.5) 133.2 23.2 2.1 25.3 Total restructuring costs & unallocated expenses 1 (17.0) (1.0) (18.0) (5.5) (1.0) (6.4) (11.6
Slide 30: Group balance sheet summary
Group balance sheet summary Group €m jun-26 dic-25 Change Non-current assets 1,639.7 1,526.4 113.3 Non-current assets held for sale 11.6 9.8 1.8 Stocks 267.9 247.4 20.5 Trade and other receivables 134.2 139.9 (5.7) Other current assets 37.4 29.9 7.5 Cash and cash equivalents 389.3 356.6 32.7 Total a
Slide 31: Net Debt
Net Debt 30-jun-26 31-dec-25 YoY Change €m Spain Argentina Group Spain Argentina Group Spain Argentina Group Non-current financial debt 509.5 0.0 509.5 516.6 0.0 516.6 (7.1) 0.0 (7.1) Current financial debt 31.1 0.0 31.1 19.7 0.0 19.7 11.4 0.0 11.4 1 Non current financial lease liabilities 9.8 0.0 9
Slide 32: Reconciliation of group cash flow and net debt change
Reconciliation of group cash flow and net debt change Statement of cash Financial and Financial debt 1H 2026 Net Debt flows presented in Lease payments SUBTOTAL income expenses variation Change annual accounts €m Result before tax + adjustments to the result + increases and decreases in other assets
Slide 33: Stores
Stores No. Spain Argentina Owned Franchised Total Owned Franchised Total Number of stores Dec. 31st, 2025 774 1,584 2,358 252 755 1,007 Openings 8 50 58 0 0 0 Net transfer of store operations (19) 19 0 0 0 0 Closings (4) (6) (10) (7) (4) (11) Number of stores June 30th, 2026 759 1,647 2,406 245 751
Slide 34: A tu lado
A tu lado investor.relations@diagroup.com T: +34 913985400 www.diacorporate.com
Distribuidora Internacional de Alimentación, S.A. (Dia) — H1 2026 Earnings Presentation on 6ix