Dino Polska Sa · GPW:DNP
Dino Polska Sa — Q1 2021 Earnings Presentation
13 slides from Dino Polska Sa's earnings presentation, May 7, 2021
Slide 1: 1Q 2021 Financial results
1Q 2021 Financial results 7th May 2021
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 2021
Our achievements in 1Q 2021 +59 new stores +24.9% net sales area y-o-y (+16 in 1Q 2020)1 (+22.9% at end of 1Q 2020 y-o-y) +24.3% sales y-o-y +7.0% LFL y-o-y (+42.3% in 1Q 2020 y-o-y) (+20.3 in 1Q 2020 y-o-y) +27.7% EBITDA y-o-y +0.2pp EBITDA margin y-o-y (+44.0% in 1Q 2020 y-o-y) (+0.1pp in 1Q 2020
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 Stores per 100k inhabitants as of March 31, 2021 (in brackets as of March 31, 2020) Net sales area (’000 m2) 50 81 119 151 192 238 295 376 472 573 597 2.1 No. of stores 1.1 (1.6) 5.4 (0
Slide 5: Substantial LFL sales growth in Q1
Substantial LFL sales growth in Q1 Inflation 1.2 2.4 2.8 2.8 4.5 3.2 3.0 2.8 2.7 Sales mix Product split by revenue (1Q 2021) LFL sales growth 25.0% Non-food 20.3% 12.8% Fresh food 38.7% 20.0% 16.6% 15.0% 12.0% 12.2% 12.4% 11.4% 10.0% 7.7% 7.8% 6.7% 6.5% 7.0% 5.0% 4.7% 5.0% 3.2% 1.8% 6.4% 1.7% 0.6%
Slide 6: High revenue growth
High revenue growth Revenues (PLNm) +24.3% y-o-y 10,12 2,764 2,761 6 2,676 2,465 2,220 7,647 5,839 2018 2019 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 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 11.0% 11.3% 9.5% 10.2% 9.7% 9.3% 8.6% 8.8% +27.7% y-o-y (EBITDA PLNm) 313.3 1,036.0 293.9 53.7 198.1 238.7 50.5 242.8 725.4 190.1 47.5 55.0 541.1 163.5 46.5 112.1 243.4 259.6 837.9 191.2 187.8 561.9 143.6 429.0 1Q 2Q 3Q 4Q 1Q 2018 2019
Slide 8: 1Q 2021: EBITDA bridge
1Q 2021: EBITDA bridge (PLNm) 8.56% 8.79% + PLN 52.6 million +27.7% 27.0 0.9 55.0 1.9 35.0 46.5 20.7 242.8 190.1 186.8 187.8 187.8 143.6 1Q 2020 1Q 2020 1Q 2020 Δ Sale Δ Cost Δ Sales & Δ G&A Δ Other 1Q 2021 1Q 2021 1Q 2021 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 structure (PLNm) (PLNm) 117% 114% 97% 120% 151% 820 799 198 153 643 22 116 164 1,000 828 112 789 634 2Q 193 1Q 502 367 384 20 55 229 47 128 177 ( 20) (12) 2018 2019 2020 1Q 2020 1Q 2021 -96 (145) ( 27) ( 43) ( 10) Capex Capex as % of EBITDA 2018 2019 2020 1Q 2020 1Q 20
Slide 10: Balance sheet
Balance sheet Net debt/EBITDA(1) Interest coverage ratio(2) 1.25x 18.9x 1.05x 1.08x 16.1x 1.03x 0.96x 9.5x 9.3x 2018 2019 2020 1Q 2020 1Q 2021 2018 2019 2020 1Q 2021 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) Inter
Slide 11: Strategy update
Strategy update 1 Organic store roll-out 1,473 stores 1Q: 1,532 stores 1,218 stores (+255 (+39 new stores) 977 stores (+243 775 stores new stores) 1 (+202 new stores) 628 (+147 new stores) stores new stores) 2016 2017 2018 2019 2020 2021 2022p 2023p 2024p 2025p 2 LFL growth 3 Improving profitability
Slide 12: Q&A
Q&A 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