Dino Polska Sa · GPW:DNP
Dino Polska Sa — Q3 2021 Earnings Presentation
13 slides from Dino Polska Sa's earnings presentation, Nov 5, 2021
Slide 1: 3Q 2021 Financial results
3Q 2021 Financial results 5th November 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-3Q 2021
Our achievements in 1Q-3Q 2021 +234 stores +25.2% net sales area y-o-y (+153 in 1Q-3Q 2020) (+23.7% in 1Q-3Q 2020 y-o-y) +29.0% sales y-o-y +9.9% LFL y-o-y (+33.3% in 1Q-3Q 2020 y-o-y) (+13.0% in 1Q-3Q 2020 y-o-y) +26.0% EBITDA y-o-y -0.2pp EBITDA margin y-o-y (+42.9% in 1Q-3Q 2020 y-o-y) (+0.7pp in
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, 2021 (in brackets as of September 30, 2020) 50 81 119 151 192 238 295 376 472 573 667 2.4 (1.8) 1.8 No. of store
Slide 5: Investments in renewable energy sources
Investments in renewable energy sources Solar energy is powering Dino stores (recap of Q1-Q3 2021) Dino stores are equipped with their 751 own photovoltaic installations (+386 in Q1-Q3 2021) ~27MW total capacity of the PV panels on Dino stores of electricity generated by Dino ~13GWh from the sun in
Slide 6: Significant growth of LFL sales
Significant growth of LFL sales Inflation % 2.3 3.4 2.1 3.6 4.2 Sales mix Food Product split by revenue (1Q-3Q 2021) inflation % 4.9 4.7 4.4 5.8 2.0 LFL sales growth Non-food 12.6% Fresh food 12.6% 13.0% 37.5% 11.6% 11.4% 9.9% Other food1 49.9% FY FY 1Q-3Q 1Q-3Q 1Q-3Q 2019 2020 2019 2020 2021 Source
Slide 7: High revenue growth
High revenue growth +30.3% y-o-y 9,498 Revenues (PLNm) 3,487 3,250 7,362 2,676 2,764 2,761 2,465 2,220 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 1Q-3Q 2020 1Q-3Q 2021 Source: Company financial statements 7 7
Slide 8: Consistent growth in results and the EBITDA margin
Consistent growth in results and the EBITDA margin EBITDA margin 11.0% 11.3% 10.3% 9.8% 9.6% 9.7% 8.8% 9.5% 8.6% +21.8% y-o-y (EBITDA PLNm) 378.1 910.5 313.3 309.9 179.2 293.9 64.9 722.7 238.7 53.7 242.8 59.2 50.5 144.5 190.1 47.5 55.0 46.5 292.9 731.3 243.4 259.6 250.7 578.3 191.2 187.8 143.6 1Q 20
Slide 9: 1Q-3Q 2021: EBITDA bridge
1Q-3Q 2021: EBITDA bridge (mPLN) 9.82% 9.59% + PLN 187.8 million +26.0% 11.3 179.2 17.5 4.1 4.4 144.5 167.8 910.5 722.7 731.3 731.3 731.3 578.3 9M 2020 9M 2020 9M 2020 Δ Sale at a Δ Costs Δ Sale Δ G&A Δ Other operating 9M 2021 9M 2021 9M 2021 EBITDA D&A EBIT constant margin of sale and marketing inc
Slide 10: Operating cash flow
Operating cash flow Capex2 OCF structure (PLNm) (PLNm) 117% 114% 97% 94% 114% 820 757 799 198 449 179 643 153 22 144 125 164 112 789 700 1,000 1,038 541 502 828 384 634 2Q 681 1Q ( 20) (8) -96 ( 71) (172) ( 114) ( 64) 2018 2019 2020 1Q-3Q 2020 1Q-3Q 2021 2018 2019 2020 1Q-3Q 2020 1Q-3Q 2021 Profit b
Slide 11: Balance sheet
Balance sheet Net debt / EBITDA(1) Interest coverage ratio(2) 1.1x 1.1x 1.0x 1.0x 1.0x 22.4x 16.1x 9.5x 9.3x 2018 2019 2020 3Q 2020 3Q 2021 2018 2019 2020 3Q 2021 Source: Company financial statements (1) Net debt to EBITDA defined as net debt divided by EBITDA for the last twelve months (2) Interest
Slide 12: Strategy update
Strategy update 1 Organic store roll-out 9M: 1706 1473 stores 1218 stores (+234) 977 stores 775 stores (+255) (+243) stores (+202) 628 (+147) stores 2016 2017 2018 2019 2020 2021p 2022p 2023p 2024p 2025p 2 LFL sales growth 3 Improving profitability -0.2 pp 9.9% EBITDA margin change LFL sales growth
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