Dino Polska Sa · GPW:DNP
Dino Polska Sa — H1 2024 Earnings Presentation
13 slides from Dino Polska Sa's earnings presentation, Aug 22, 2024
Slide 1: 1H 2024 Financial results
1H 2024 Financial results 22nd August 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 1H 2024
Our achievements in 1H 2024 +98 stores +10.4% net sales area y-o-y (+116 in 1H 2023) (+15.4 in 1H 2023 y-o-y) +15.1% sales y-o-y +6.4% LFL y-o-y (+38.3% in 1H 2023 y-o-y) (+23.3% in 1H 2023 y-o-y) -1.6% EBITDA y-o-y -1.2pp EBITDA margin y-o-y (+31.4% in 1H 2023 y-o-y) (-0.4pp in 1H 2023 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, 2024 (in brackets as of June 30, 2023) 151 192 238 295 376 472 573 710 848 948 987 3.9 (3.4) 5.7 No. of stores 2504 1
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of H1 2024) Dino stores are equipped with their 2,289 own photovoltaic installations (+151 in H1 2024) 91.8 MW total capacity of the PV panels on Dino stores (+28% y-o-y) of electricity generated by Dino 45.1 GWh fro
Slide 6: Growth of LFL sales
Growth of LFL sales 3.6 6.6 11.8 16.8 15.0 8.0 2.7 Inflation Sales mix % Product split by revenue (1H 2024) 35.0% 30.1% Non-food 12.0% 30.0% 25.5% 23.3% 25.0% Fresh food 19.7% 40.3% 20.0% 14.9% 20.8% 15.0% 12.4% 11.1% 9.5% 10.0% 6.4% 5.3% 10.0% 5.0% 1.1% Other 0.0% 2.3% food1 47.7% 1H 2H 1H 2H 1H 2H
Slide 7: Sales revenue
Sales revenue +10.6% y-o-y 13,914 7,243 Revenues (PLNm) 6,875 6,698 6,671 6,549 12,093 5,544 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 1H 2023 1H 2024 Source: Company financial statements 7 7
Slide 8: EBITDA result
EBITDA result EBITDA margin 8.7% 9.5% 8.3% 8.3% 8.5% 7.4% 7.2% 7.3% -8.9% y-o-y (EBITDA PLNm) 649.5 1,030 1,013 571.4 553.5 91.0 520.6 171.8 193.5 492.1 458.2 89.3 94.0 98.9 94.6 82.5 558.5 857.8 482.1 459.6 819.3 375.7 397.5 421.7 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 1H 2023 1H 2024 EBIT
Slide 9: H1 2024: EBITDA bridge
H1 2024: EBITDA bridge (mPLN) 8.51% 7.28% PLN -16.9 million -1.6% 38.6 171.8 129.2 112.0 16.0 1.1 193.5 1,029.6 1,012.7 857.8 819.3 1H 2023 1H 2023 1H 2023 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1H 2024 1H 2024 1H 2024 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA margin
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 105% 79% 53% 55% 70% 1,772 1,253 357 1,326 300 205 963 247 891 268 1,446 83 1,336 1,739 172 193 1,173 2Q 1,402 1Q 978 696 782 757 569 (221) ( 146) ( 256) 2021 2022 2023 1H 2023 1H 2024 ( 105) (392) ( 103) ( 57) Capex Capex as % of EBITDA 2021 20
Slide 11: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 0.83x 0.76x 21.9x 0.56x 14.0x 0.43x 12.7x 0.37x 10.9x 2021 2022 2023 1H 2023 1H 2024 2021 2022 2023 1H 2024 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: 2,504 2,406 stores 2,156 stores (98 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