Dino Polska Sa · GPW:DNP
Dino Polska Sa — Q1 2024 Earnings Presentation
13 slides from Dino Polska Sa's earnings presentation, May 9, 2024
Slide 1: 1Q 2024 Financial results
1Q 2024 Financial results 9th May 2024
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 2024
Our achievements in 1Q 2024 +32 openings stores +10.5% net sales area y-o-y (+54 in 1Q 2023) (+18.0% at end of 1Q 2023 y-o-y) +20.3% sales y-o-y +11.9% LFL y-o-y (+43.8% in 1Q 2023 y-o-y) (+27.2% in 1Q 2023 y-o-y) +7.4% EBITDA y-o-y -0.9 pp EBITDA margin y-o-y (+37.7% in 1Q 2023 y-o-y) (-0.4 pp in 1
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 Stores per 100k inhabitants as of March 31, 2024 (in brackets as of March 31, 2023) Net sales area (’000 m2) 151 192 238 295 376 472 573 710 848 948 961 3.7 No. of stores (3.3) 5.3 10.3
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of Q1 2024) Dino stores are equipped with their 2210 own photovoltaic installations (+72 in Q1 2024) 88.2 MW total capacity of the PV panels on Dino stores (+29% y-o-y) of electricity generated by Dino 10.4 GWh from
Slide 6: Substantial LFL sales growth in Q1
Substantial LFL sales growth in Q1 Inflation 9.7 13.9 16.3 17.3 17.0 13.1 9.7 6.4 2.8 Sales mix Product split by revenue (1Q 2024) LFL sales growth Non-food 35.0% 33.2% 12.1% 29.8% 28.9% 30.0% 27.2% Fresh food 41.1% 25.0% 20.4% 20.3% 20.0% 22.9% 16.3% 21.9% 15.0% 18.8% 11.9% 17.4% 8.7% Other 10.0% 1
Slide 7: High revenue growth
High revenue growth Revenues (PLNm) +20.3% y-o-y 25,666 6,875 6,698 6,671 6,549 19,802 5,544 13,362 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2021 2022 2023 Source: Company financial statements 7 7
Slide 8: EBITDA result
EBITDA result EBITDA margin 9.5% 9.3% 8.7% 8.7% 9.5% 8.3% 8.3% 7.4% +7.4% y-o-y (EBITDA PLNm) 649.5 2,233 571.4 553.5 91.0 1,838 357 492.1 458.2 89.3 94.0 300 94.6 1,271 82.5 247 558.5 1,876 482.1 459.6 1,538 375.7 397.5 1,024 1Q 2Q 3Q 4Q 1Q 2021 2022 2023 2023 2023 2023 2023 2024 EBIT D&A EBIT D&A
Slide 9: 1Q 2024: EBITDA bridge
1Q 2024: EBITDA bridge (PLNm) 8.3% 7.4% + PLN 34 million +7.4% 76.4 28.6 94.6 82.5 66.8 13.2 3.2 492.1 458.2 375.7 397.5 1Q 2023 1Q 2023 1Q 2023 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1Q 2024 1Q 2024 1Q 2024 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA margin costs incon
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 105% 79% 53% 68% 67% 1 772 1 253 357 1 326 300 205 247 1,446 1,336 1,739 1,173 436 1,402 243 978 41 83 95 311 330 334 365 2021 2022 2023 1Q 2023 1Q 2024 ( 117) ( 65) ( 105) ( 221) ( 56) ( 392) ( 103) Capex Capex as % of EBITDA ( 57) 2021 2022 20
Slide 11: Balance sheet
Balance sheet Net debt/EBITDA(1) Interest coverage ratio(2) 0.83x 0.76x 0.77x 21.9x 0.43x 13.6x 12.7x 0.39x 10.9x 2021 2022 2023 1Q 2023 1Q 2024 2021 2022 2023 1Q 2024 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) Int
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 1Q: 2,438 2,406 stores 2,156 stores (32 1,815 stores (250 openings) 1,473 stores (344 openings) 1,218 stores (343 openings) 977 stores 775 (255 openings) stores (243 stores openings) (202 openings) 628 (147 openings) stores openings) 2016 2017 2018 2019 2020
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