Zabka Group · GPW:ZAB
Zabka — Q1 2025 Earnings Presentation
26 slides from Zabka's earnings presentation, May 13, 2025
Slide 1: Q1 2025 Results Presentation
Q1 2025 Results Presentation 13 May 2025
Slide 2: Today's Presenters
Today’s Presenters Tomasz Blicharski Marta Wrochna- Tomasz Suchański Group Chief Strategy Łastowska Group CEO & Development Group CFO Officer 2
Slide 3: Strategic Highlights
Strategic Highlights
Slide 4: Q1 2025 Performance: Growth Across All Segments, With Strong Roll-out Momentum
Q1 2025 Performance: Growth Across All Segments, With Strong Roll- out Momentum And Continued Deleveraging Q1 Sales to End Customers Q1 Like for Like Store network1 as at 31 Mar-25 11,460 PLN 6.6bn 6.0% + 1,201 LTM +15% YoY Gross store openings Q1 Adjusted EBITDA Q1 Core business adj. EBITDA Q1 Net
Slide 5: Delivery In Line With Guidance In A Stable Environment
Delivery In Line With Guidance In A Stable Environment Stable market environment in Q1 LfL Grow Q1 25 +436 new stores openings th On track to deliver 1,100+ ini new store openings FY25 guidance tia tiv n k expansio es Q1 25 LfL +6.0% Current state of the consumer Continued above market growth re
Slide 6: Market environment and strategy execution
Market environment and strategy execution
Slide 7: Stable Consumer Landscape Amid Geopolitical Uncertainties
Stable Consumer Landscape Amid Geopolitical Uncertainties Financial situation of Polish consumers in the recent months has been stable Nominal gross wages have been ahead of Gross wage inflation in LTM, resulting in a significant real growth wage growth over the period, however slowing Inflation dow
Slide 8: Żabka's Market Share Growth Driven By Network Expansion And Above-average LfL Growth
Żabka's Market Share Growth Driven By Network Expansion And Above-average LfL Growth Consistent price and volume outperformance has led… …to continuously increasing market share Polish physical grocery total growth (incl. space growth) by channel1, Q1 2025 Rolling LTM Market share evolution of Żabka
Slide 9: Store Openings: Strong Pipeline, High Performance, And Seamless Franchisee Acquisition
Store Openings: Strong Pipeline, High Performance, And LfL Growth ini t iti ati n rk expansio ves Ne two Seamless Franchisee Acquisition es gin n hE New Growt Progress in Poland and Romania… …with maintained excellent … and uninterrupted sourcing of quality of expansion… FRs on the back of attracti
Slide 10: LfL Growth Fuelled By Product Innovation And Digital Initiatives Within Żappka App
Lfl Growth Fuelled By Product Innovation And Digital Initiatives LfL Growth ini t iti ati n rk expansio ves Ne two Within Żappka App es gin n hE New Growt Continued Street Food offer rollout App upgrade yields record results and scales promo mechanisms efficiently Nearly 2k stores were fitted with t
Slide 11: Financials
Financials
Slide 12: Key Financial Highlights: Solid Performance And Continued Growth
Key Financial Highlights: Solid Performance And Continued Growth, In Line With Our Expectations And On Track To Deliver Guidance Q1’25 Trading Q1’25 Like-for-Like Q1’25 Store openings PLN 6.6bn StEC / +15% YoY 6.0% 436 / + 35 YoY Sales to End Customers at PLN 6.6bn with LfL in line with the mid-sing
Slide 13: Sales In The First Quarter Are Less Impactful For The Full Year Performance
Sales In The First Quarter Are Less Impactful For The Full Year Performance Compared To Other Quarters Sales to End Customers (PLNm) and % of annual Sales to End Customers based on 2024 values (%) 21.1% 26.1% 27.5% 25.2% 7,499 7,126 6,884 2023 6,618 6,410 2024 2025 5,767 5,854 5,833 4,679 Q1 Q2 Q3 Q
Slide 14: First Quarter Performance Reflects The Typical Seasonality Of Żabka Business Profile
First Quarter Performance Reflects The Typical Seasonality Of Żabka Business Profile And Is In Line With Our Expectations And Guidance Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Sales to End Customers (PLNm) Gross 401 313 283 169 436 openings1 LfL (%) 11.5% 9.3% 6.0% 7.1% 6.0% 7,126 7,499 6,884 6,618 5,767 Adjus
Slide 15: Strong Top-Line Growth and Maintained Profitability
Strong Top-Line Growth and Maintained Profitability Key financial metrics Q1 As a % of StEC Healthy mix of organic growth with strong LFL and expansion with 436 new Q1 25 Q1 24 Δ YoY Q1 25 Q1 24 Δ YoY stores, 407 in Poland and 29 in Romania. Selected KPIs Number of Stores (EoP)1 11,460 10,370 +10.5%
Slide 16: Robust Adjusted EBITDA Performance driven by Sales Growth and Increased Profitability in Poland
Robust Adjusted EBITDA Performance driven by Sales Growth and Increased Profitability in Poland ▪Strong Adj. EBITDA growth of +15% YoY thanks to continued momentum in sales Adjusted EBITDA growth (PLNm, Q1 2025) x % of Sales to End Customers ▪ Margin improvement driven by better terms of trade with
Slide 17: Generating Positive Cash Flow Amid Continued Investments In Growth...
Generating Positive Cash Flow Amid Continued Investments In Growth... Q1 2024 Q1 2025 (PLNm) (PLNm) ▪Positive cash flow generation, driven by: Adjusted EBITDA 518 596 ▪ Healthy adj. EBITDA growth ▪ Business growth driven Capex spending Rent (232) (266) – YoY growth attributable to ongoing Adjusted E
Slide 18: … Consistently Supporting Further Deleveraging Year On Year
… Consistently Supporting Further Deleveraging Year On Year Net leverage: Net financial debt1 / adjusted EBITDA post-rent2 2.3x 2.1x 1.5x 1.6x ▪ Reduction in leverage profile by 0.5x between March 2024 and March 2025 from robust cash generation in LTM and adj. EBITDA growth FY 23 FY 24 Q1 2024 Q1 20
Slide 19: Successful Execution of PLN 1bn Bond Programme with Attractive Terms
Successful Execution of PLN 1bn Bond Programme with Attractive Terms Offer parameters ▪ Żabka Group has successfully completed Zabka Group S.A. (Luxembourg), a public limited liability company listed on the its first bond issue amounting to PLN 1bn Issuer placing us as one of the largest corporate W
Slide 20: Concluding Remarks and Near-Term Guidance
Concluding Remarks and Near-Term Guidance Consistently In line with our expectations, in Q1 25 Żabka continued strong financial and operating performance delivering robust LfL growth of 6.0% in a typically slower quarter due to seasonality Strong Results In Q1'2025 our ultimate convenience business
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Slide 22: Appendix
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Slide 23: IPO Award And LTIP: IFRS Costs Recognition And P&L Impact
IPO Award And LTIP: IFRS Costs Recognition And P&L Impact IPO award The IPO Award is a one-off grant in the form of Zabka Group shares, awarded to franchisees (ca. 65% of all shares to be granted as IPO award), Group employees (ca. 25%) and B2B contractors (ca. 10%). Participants are entitled to rec
Slide 24: Strong Q1 2025 Performance Across All Key Metrics
Strong Q1 2025 Performance Across All Key Metrics Sales to End Customers1 Like for Like2 Net store openings Capex (PLNm) (%) (# of stores) (PLNm) +35 +15% +19% 391 356 6,618 11.5% 325 5,767 273 6.0% Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Adjusted EBITDA & margin4 Adjusted Net profit & margi
Slide 25: Żabka Group disclaimer
Żabka Group disclaimer This presentation (“Presentation”) has been prepared by Zabka Group, a public limited liability company (société anonyme) incorporated and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 2, rue Jean Monnet L-2180 Luxembourg, Grand Duch
Slide 26: Thank you
Thank you