Dino Polska Sa · GPW:DNP
Dino Polska Sa — H1 2023 Earnings Presentation
14 slides from Dino Polska Sa's earnings presentation, Aug 17, 2023
Slide 1: 1H 2023 Financial results
1H 2023 Financial results 17th August 2023
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 1H 2023
Our achievements in 1H 2023 +116 stores +15.4% net sales area y-o-y (+162 in 1H 2022) (+22.4 in 1H 2022 y-o-y) +38.3% sales y-o-y +23.3% LFL y-o-y (+45.4% in 1H 2022 y-o-y) (+25.5% in 1H 2022 y-o-y) +31.4% EBITDA y-o-y -0.4pp EBITDA margin y-o-y (+41.7% in 1H 2022 y-o-y) (-0.2pp in 1H 2022 y-o-y) 3
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 Net sales area (’000 m2) Stores per 100k inhabitants as of June 30, 2023 (in brackets as of June 30, 2022) 119 151 192 238 295 376 472 573 710 848 894 3.4 (2.9) 2272 4.4 No. of stores 2
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of H1 2023) Dino stores are equipped with their 1840 own photovoltaic installations (+139 in H1 2023) 71.7 MW total capacity of the PV panels on Dino stores (+77% y-o-y) of electricity generated by Dino 33.7 GWh from
Slide 6: Significant growth of LFL sales
Significant growth of LFL sales Inflation 2.9 3.6 6.6 11.8 16.8 15.0 Sales mix 3.9 % Product split by revenue (1H 2023) Non-food 35.0% 30.1% 11.8% 30.0% 25.5% 23.3% Fresh food 25.0% 19.7% 41.0% 20.0% 14.9% 20.8% 13.3% 15.0% 11.9% 11.1% 9.5% 10.0% 7.1% 5.3% 5.0% 2.5% 1.1% Other food1 0.0% 47.2% 1H 2H
Slide 7: High revenue growth
High revenue growth +34.0% y-o-y 6,549 12,093 Revenues (PLNm) 5,693 5,544 5,368 4,887 8,741 3,854 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 1H 2022 1H 2023 Source: Company financial statements 7 7
Slide 8: Consistent growth in results
Consistent growth in results EBITDA margin 9.2% 10.0% 9.1% 8.6% 8.3% 8.7% 8.96% 8.51% +26.8% y-o-y (EBITDA PLNm) 571.4 536.0 1,029.6 518.5 458.2 89.3 450.6 76.5 80.8 171.8 783.4 72.9 82.5 332.8 142.9 70.0 459.5 482.1 437.7 857.8 377.7 375.7 640.6 262.9 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023
Slide 9: H1 2023: EBITDA bridge
H1 2023: EBITDA bridge (mPLN) 8.96% 8.51% + PLN 246.2 million +31.4% 15.3 2.6 171.8 192.4 146.1 142.9 245.6 1,029.6 857.8 783.4 640.6 1H 2022 1H 2022 1H 2022 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1H 2023 1H 2023 1H 2023 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA margi
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 97% 105% 79% 93% 55% 1,253 1,326 300 205 820 247 891 83 198 449 172 1,446 1,402 143 1,336 1,002 2Q 978 1Q 789 782 727 577 569 -96 (173) ( 146) ( 105) ( 71) (392) ( 98) 2020 2021 2022 1H 2022 1H 2023 ( 57) Capex Capex as % of EBITDA 2020 2021 202
Slide 11: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 21.9x 0.96x 0.93x 0.83x 0.76x 16.1x 0.56x 10.9x 11.1x 2020 2021 2022 1H 2022 1H 2023 2020 2021 2022 1H 2023 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) I
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 1H: 2,272 2,156 stores 1,815 stores (116 1,473 stores (344 1,218 openings) stores (343 openings) 977 stores 775 (255 openings) stores (243 stores openings) (202 openings) (147 openings) 628 openings) stores 2016 2017 2018 2019 2020 2021 2022 2023e 2024e 2025e
Slide 13: Q&A
Q&A 13
Slide 14: 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 14