Dino Polska Sa · GPW:DNP
Dino Polska Sa — Q3 2020 Earnings Presentation
12 slides from Dino Polska Sa's earnings presentation, Nov 6, 2020
Slide 1: 3Q 2020 Financial results
3Q 2020 Financial results 6th November 2020
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-3Q 2020
Our achievements in 1Q-3Q 2020 +153 stores +23.7% net sales area y-o-y (+138 w 1Q-3Q 2019) (+25.4% at end of 3Q 2019 y-o-y) +33.3% sales y-o-y +13.0% LFL y-o-y (+30.7% w 1Q-3Q 2019 y-o-y) (+11.4% in 1Q-3Q 2019 y-o-y) +42.9% EBITDA y-o-y +0.7pp EBITDA margin y-o-y (+36.5% in 1Q-3Q 2019 y-o-y) (+0.4pp
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 September 30, 2020 (in brackets as of September 30, 2019) 32 50 81 119 151 192 238 295 376 472 533 1.8 1371 (1.2) 0.9 No. of s
Slide 5: Significant growth of LFL sales
Significant growth of LFL sales Inflation % 1.6 2.3 1.7 2.1 3.6 Sales mix Food Product split by revenue (1Q-3Q 2020) 2.6 4.9 3.1 4.4 5.8 inflation % LFL sales growth Non-food Fresh food 12.5% 38.7% 13.0% 12.4% 11.6% 11.6% 11.4% Dry food, beverages, alcohol and tobacco 48.8% FY FY 1Q-3Q 1Q-3Q 1Q-3Q 2
Slide 6: High revenue growth
High revenue growth Revenues (PLNm) +32.3% y-o-y 2,676 2,465 7,362 2,220 2,123 1,940 2,023 5,523 1,560 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 1Q-3Q 2019 1Q-3Q 2020 Source: Company financial statements 6 6
Slide 7: Consistent growth in results and the EBITDA margin
Consistent growth in results and the EBITDA margin EBITDA margin 10.4% 11.0% 9.82% 9.3% 9.5% 9.7% 9.16% 8.5% 8.6% +52.7% y-o-y (EBITDA PLNm) 722.7 293.9 144.5 238.7 50.5 505.7 219.7 181.2 192.5 190.1 47.5 45.0 118.5 132.0 39.0 42.1 46.5 243.4 578.3 37.4 174.7 191.2 387.2 142.2 150.4 143.6 94.6 1Q 20
Slide 8: 1Q-3Q 2020 EBITDA bridge
1Q-3Q 2020 EBITDA bridge (PLNm) 9.16% 9.82% + PLN 217.0 million +42.9% 3.8 2.4 144.5 72.9 17.0 118.5 128.9 722.7 575.8 578.3 578.3 505.7 387.2 9M 2019 9M 2019 9M 2019 Δ Sale at a Δ Costs Δ Sale Δ G&A Δ Other operating 9M 2020 9M 2020 9M 2020 EBITDA D&A EBIT constant margin of sale and marketing inco
Slide 9: Cash flow
Cash flow Capex2 OCF structure (PLNm) (PLNm) 103% 117% 114% 124% 94% 799 153 449 643 22 144 497 125 164 14 320 131 112 118 86 828 502 541 634 2Q 629 681 384 345 266 1Q 402 ( 20) (102) ( 42) (172) 2017 2018 2019 1Q-3Q 2019 1Q-3Q 2020 ( 64) Capex Capex as % of EBITDA 2017 2018 2019 1Q-3Q 2019 1Q-3Q 20
Slide 10: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 1.5x 12.1x 1.2x 1.1x 1.0x 1.0x 9.5x 9.3x 8.0x 2017 2018 2019 3Q 2019 3Q 2020 2017 2018 2019 3Q 2020 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA (adj.) for the last twelve months (2) In
Slide 11: Strategy update
Strategy update 1 Organic store roll-out 1,218 9M: +153 775 977 stores new stores sklepów stores (+243) 628 (+147) (+202) stores 2016 2017 2018 2019 2020p 2021p 2022p 2023p 2024p 2025p 2 LFL growth 3 Improving profitability +0.66 pp 13.0% EBITDA margin improvement LFL growth in 1Q-3Q 2020 in 1Q-3Q 2
Slide 12: 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 12