Dino Polska Sa · GPW:DNP
Dino Polska Sa — H1 2020 Earnings Presentation
13 slides from Dino Polska Sa's earnings presentation, Aug 21, 2020
Slide 1: 1H 2020 Financial results
1H 2020 Financial results 21st August 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 1H 2020
Our achievements in 1H 2020 +84 stores +23.9% net sales area y-o-y (+81 in 1H 2019) (+25.5 in 1H 2019 y-o-y) +33.9% sales y-o-y +13.3% LFL y-o-y (+30.5% in 1H 2019 y-o-y) (+11.1 in 1H 2019 y-o-y) +36.9% EBITDA y-o-y +0.2pp EBITDA margin y-o-y (+36.8% in 1H 2019 y-o-y) (+0.4pp in 1H 2019 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, 2020 (in brackets as of June 30, 2019) 32 50 81 119 151 192 238 295 376 472 505 1.6 (0.9) 0.7 No. of stores 1302 4.4
Slide 5: Significant growth of LFL sales
Significant growth of LFL sales Annual Sales mix Inflation 1.9 2.1 1.6 1.7 1.8 2.8 3.9 (deflation) % Product split by revenue (1H 2020) 20.0% 17.5% Non-food Fresh food 16.0% 14.7% 14.7% 12.8% 39.7% 13.3% 12.0% 11.1% 12.0% 9.1% 6.7% 7.1% 8.0% 5.1% 3.4% 3.6% 3.3% 4.0% 1.7% Dry food, 0.0% beverages, al
Slide 6: High revenue growth
High revenue growth +27.1% y-o-y 2,465 4,686 Revenues (PLNm) 2,220 2,123 2,023 1,940 3,500 1,561 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 1H 2019 1H 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 9.5% 10.4% 9.7% 8.5% 9.3% 8.6% 8,95% 9,15% +31.7% y-o-y (EBITDA PLNm) 428.8 238.7 219.7 94.0 192.5 190.1 47.5 313.2 181.2 45.0 42.1 46.5 76.4 132.0 39.0 37.4 334.8 174.7 191.2 142.2 150.4 143.6 236.8 94.6 1Q 2019 2Q 2019 3Q 2019 4Q 201
Slide 8: H1 2020: EBITDA bridge
H1 2020: EBITDA bridge (mPLN) 8.95% 9.15% + PLN 115.6 million +36.9% 1.4 3.0 94.0 23.0 9.6 76.4 80.2 428.8 313.2 331.8 334.8 334.8 236.8 1H 2019 1H 2019 1H 2019 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1H 2020 1H 2020 1H 2020 EBITDA D&A EBIT at a constant of sales marketing operating EBIT D&A EBITDA ma
Slide 9: Operating cash flow
Operating cash flow Capex2 OCF structure3 (PLNm) (PLNm) 799 103% 117% 114% 139% 102% 153 643 22 497 125 164 14 112 137 131 257 94 86 18 502 76 828 384 266 310 634 209 2Q 434 436 ( 20) 402 ( 46) 1Q (209) ( 57) 2017 2018 2019 1H 2019 1H 2020 2017 2018 2019 1H 2019 1H 2020 Profit before tax D&A Change
Slide 10: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 1.4x 10.9x 1.3x 1.2x 9.5x 9.3x 1.0x 1.0x 8.0x 2017 2018 2019 1H 2019 1H 2020 2017 2018 2019 1H 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 1H: 1302 1218 stores 977 stores (+84) 775 stores (+243) stores (+202) 628 (+147) stores 2016 2017 2018 2019 2020P 2021p 2022p 2023p 2024p 2025p 2 LFL growth 3 Improving profitability + 0.20 pp 13.3% EBITDA margin improvement LFL growth in 1H 2020 in 1H 2020 y
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