Dino Polska SA · GPW:DNP
Dino Polska SA — Q1 2020 Earnings Presentation
13 slides from Dino Polska SA's earnings presentation, May 15, 2020
Slide 1: 1Q 2020 Financial results
1Q 2020 Financial results 15th May 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 2020
Our achievements in 1Q 2020 +39 new stores1 +25.2% net sales area y-o-y1 (+33 in 1Q 2019) (+27.4% at end of 1Q 2019 y-o-y) +42.3% sales y-o-y +20.3% LFL y-o-y (+22.7% in 1Q 2019 y-o-y) (+5.0 in 1Q 2019 y-o-y) +44.0% EBITDA y-o-y +0.1pp EBITDA margin y-o-y (+26.5% in 1Q 2019 y-o-y) (+0.3pp in 1Q 2019
Slide 4: Network expansion – higher number of stores and geographic composition
Network expansion – higher number of stores and geographic composition1 Network expansion to date Regional coverage Stores per 100k inhabitants as of March 31, 2020 (in brackets as of March 31, 2019) Net sales area (’000 m2) 25 32 50 81 119 151 192 238 295 378 389 472 487 1.6 No. of stores (0.8) 0.6
Slide 5: Substantial LFL sales growth in Q1
Substantial LFL sales growth in Q1 Inflation 1.5 1.7 2.0 1.4 1.2 2.4 2.8 2.8 4.5 Sales mix Product split by revenue (1Q 2020) LFL sales growth 25.0% Non-food 20.3% 12.8% Fresh food 20.3% 20.0% 40.2% 16.6% 15.0% 12.0% 12.2% 10.0% 9.6% 8.6% 10.0% 7.7% 6.7% 6.5% 5.0% 4.7% 3.9% 3.2% 5.0% 2.2% Dry food,
Slide 6: High revenue growth
High revenue growth Revenues (PLNm) +42.3% y-o-y 2,220 7,647 2,123 2,023 1,940 5,839 1,560 4,463 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2017 2018 2019 Source: Company financial statements 6 6
Slide 7: Consistent growth in results and the EBITDA margin
Consistent growth in results and the EBITDA margin1 EBITDA margin 9.3% 9.5% 10.4% 8.5% 8.6% 9.0% 9.3% 9.5% +44.0% y-o-y (EBITDA PLNm) 725.4 219.7 192.5 190.1 163.5 181.2 45.0 541.1 42.1 46.5 132.0 39.0 112.1 401.4 37.4 85.9 174.7 561.9 142.2 150.4 143.6 429.0 94.6 315.5 1Q 2Q 3Q 4Q 1Q 2017 2018 2019
Slide 8: 1Q 2020: EBITDA bridge
1Q 2020: EBITDA bridge (PLNm) 8.46% 8.56% + PLN 58.1 million +44.0% 10.7 46.5 0.3 0.6 0.8 37.4 40.0 190.1 143.6 143.6 143.6 132.0 94.6 1Q 2019 1Q 2019 1Q 2019 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1Q 2020 1Q 2020 1Q 2020 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA marg
Slide 9: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 103% 117% 114% 183% 125% 799 153 643 22 164 497 116 14 131 112 828 86 634 2Q 502 384 20 1Q 16 47 402 266 241 37 229 128 82 ( 20) (47) 2017 2018 2019 1Q 2019 1Q 2020 ( 4) (145) ( 10) Capex Capex as % of EBITDA 2017 2018 2019 1Q 2019 1Q 2020 Profi
Slide 10: Balance sheet
Balance sheet Net debt/EBITDA1 Interest coverage ratio2 1.5x 8.0x 9.4x 9.3x 1.7x 1.2x 1.2x 1.0x 7.3x 2017 2018 2019 1Q 2019 1Q 2020 2017 2018 2019 1Q 2020 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA (adj.) for the last twelve months (2) Interest
Slide 11: Strategy update
Strategy update 1 Organic store roll-out 1Q: 1,257 1,218 stores 977 stores (+39 new 775 stores (+243 new stores)1 stores (+202 new stores) 628 (+147 new stores) stores stores) 2016 2017 2018 2019 2020P 2021p 2022p 2023p 2024p 2025p 2 LFL growth 3 Improving profitability +0.1pp 20.3% EBITDA margin im
Slide 12: najblizej Cieblie
najblizej Cieblie 12
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