Slide 1: Dia Group 2024 Earnings Results Presentation
Dia Group 2024 Earnings Results Presentation February 28th, 2025 1
Slide 2: Legal disclaimer
Legal disclaimer This presentation contains forward-looking statements and information regarding Distribuidora Internacional de Alimentación, S.A. (Dia) and its subsidiaries based on the current beliefs of Dia's management, its main expectations and assumptions, as well as the information currently
Slide 3: Disclaimer regarding the results shown in this presentation
Disclaimer regarding the results shown in this presentation In the Consolidated Annual Accounts, accounting standard IFRS 5 has been applied, where the figures corresponding to the Clarel business, Portugal, Brazil, and the large-format stores in Spain sold to Alcampo, are presented separately from
Slide 4: Dia Group 2024 Highlights
Dia Group 2024 Highlights Cada, dia, Mas CeACa
Slide 5: Dia Group 2024 highlights
Dia Group 2024 highlights 1. Dia Group completes its transformation and simplification process in 2024 2. Spain continues its like-for-like (LFL) growth above the market 3. Argentina has managed to increase its like-for-like market share in a context of generalized consumption decline 4. Substantial
Slide 6: Dia Group completes its transformation and simplification process in 2024
01. Dia Group completes its transformation and simplification process in 2024 6
Slide 7: Sale of Portugal, Clarel and Brazil businesses
1. Sale of Portugal, Clarel and Brazil businesses Operation Main details Impacts (one-off) ✓ Agreement with Grupo Trinity for the sale of Clarel (~1,000 Total cash to be received (estimated): stores), the business unit dedicated to personal and home care. - 2024 (€12M), potential 2029 (€15M) ✓ The t
Slide 8: In December 2024, the new refinancing agreement was closed
1. In December 2024, the new refinancing agreement was closed The new financing represents an extension of the debt maturities to 2029, in addition to providing the company with greater liquidity and flexibility for the execution of its future growth plan Extension of debt maturities Reduced leverag
Slide 9: Spain continues its growth with LFL above the market
02. Spain continues its growth with LFL above the market 9
Slide 10: Spain has 2,302 stores (66% franchises), focused on proximity
2. After the transformation, Spain has 2,302 stores (66% franchises), focused on proximity and with a renovated store network Spain – Stores Spain – Renovated stores1 % Franchises(1) 5% pending, planned for H1’25 57% 64% 66% 95% 86% 3.634 3.312 1.014 64% 994 2.302 223 2.397 2.318 2.302 2022 2023 202
Slide 11: Spain continues with strong LFL sales growth thanks to volume
2. Spain continues with strong LFL sales growth thanks to the boost in volume Sales in Spain have achieved three consecutive years of growth, driven by strong volume performance. During 2024, the trend continues to be positive, with volume growth of +5.6%, exceeding market growth (+4.0%1) and inflat
Slide 12: Sales growth driven by increase in number of tickets
2. Sales growth is driven by a sustained increase in the number of tickets and a balanced offering between Dia brand products and manufacturer brands The number of tickets grew by 7.1% compared to 2023, thanks to an increase in visit frequency and the acquisition of new customers. Private label cont
Slide 13: Greater number of customers visiting stores and higher satisfaction
2. The transformation carried out in Spain has resulted in a greater number of customers visiting our stores and a higher satisfaction rate The improvements implemented throughout Dia's transformation have been focused on enhancing the value proposition and the shopping experience. These improvement
Slide 14: The online business exceeds €225m and represents 4.4% of total sales
2. The online business exceeds €225m and represents 4.4% of total sales, reaching 50% of digital customers The efforts in developing the online channel are paying off. 50% of all customers are now digitalized and the weight of online sales grows +1pp vs. 2023 to 4.4% (+1.8pp vs the market average3).
Slide 15: Argentina has managed to increase its like-for-like market share
03. Argentina has managed to increase its like-for-like market share in a context of generalized consumption decline 15
Slide 16: Dia Argentina continues to outperform the market
3. Dia Argentina continues to outperform the market thanks to its unique value proposition Dia Argentina has managed to gain market share during 2024(2), with results above competition, in a context of generalized consumption decline.. Argentina – Evolution of Dia Argentina's volume vs. the market2
Slide 17: Drop in consumption impacted tickets, while Dia brand gains weight
3. The drop in consumption has impacted the number of tickets, while Dia brand products gain weight in the basket The Dia brand is gaining share in our customers' baskets thanks to our commitment to quality and affordable prices, which helps our customers in the current situation of reduced disposab
Slide 18: Customer satisfaction reaches all-time highs
3. Customer satisfaction reaches all-time highs, reinforcing our value proposition and our commitment to savings Customer satisfaction continues to increase year after year, confirming the success of the implemented strategy. During 2024, we achieved the highest NPS index in the historical series in
Slide 19: Online business gains customers and share of total sales
3. The online business gains customers and share of total sales thanks to the improvements implemented in the last year The advances in omnichannel are also notable. Digital customers reached 41% of total customers and online sales closed at 1.6% of total sales. Argentina – Digital clients1 Argentin
Slide 20: Substantial improvement of financial results and debt
04. Substantial improvement of financial results and debt 20
Slide 21: Spain consolidates its results, growing Adj. EBITDA +€72m
4. Spain consolidates its results thanks to sales growth, growing Adj. Ebitda +€72m and improving profitability +1.4pp vs. 2023 Despite the reduction in the store perimeter, Spain has been able to grow its total sales and its LFL sales. In addition to sales growth, operational improvements have sign
Slide 22: Positive net result and positive cash generation in Spain
4. These improvements are reflected in a positive net result as well as a positive cash generation Spain1 – Net Result2 Spain1 – Cash Flow generation3,4 The Net Result in Spain has been positive in 2024, reaching 58 Cash generation has been positive with a significant reduction million euros, a grow
Slide 23: Argentina delivers a positive Adjusted EBITDA
4. Argentina delivers a positive Adjusted EBITDA and protects its profitability amid a generalized slowdown in consumption Argentina – GSUB1 Argentina – Adjusted EBITDA Sales have been strongly impacted in '24 by the drop in Despite the drop in sales, it has been possible to reduce its consumption a
Slide 24: Fall in consumption impacted net result, but cash is protected
4. The fall in consumption has had an impact on the net result, but cash is protected thanks to adjustments in Capex and working capital Argentina – Net Result Argentina – Cash Flow generation1 The generalized fall in consumption together with the During 2024, an effort was made to protect cash by r
Slide 25: Continued Group has continued to increase its sales
4. The Continued Group has continued to increase its sales, driven by growth in Spain Group – GSUB • GSUB of the Continued Group increased EUR 159 million vs. 2023, thanks to the performance of Spain, offsetting the fall in consumption and the devaluation of the Argentine peso. • The Group's GSUB wa
Slide 26: Adjusted EBITDA has increased, driven by Spain
4. In addition, Adjusted EBITDA has increased, driven by results in Spain that offset the decline in Argentina Group – Adjusted EBITDA and margins • The Continued Group's Adj. EBITDA grew by EUR 39 million vs. 2023 (+15%). • The total Group's Adj. EBITDA grew by EUR 28 million vs. 2023, impacted by
Slide 27: Dia Group continued achieves €28M profit
4. Dia Group continued achieves €28M profit, €59M in Spain, while the sale of Brazil represents an accounting impact of -€107M. Group – Net Result • Group continued achieve a Net Result of EUR 28 million. Spain achieves a profit of EUR 59 million, EUR 23m less than 2023 due to the extraordinary tax
Slide 28: Group continued cash generation over €200M
4. Group continued cash generation has been over €200M, +€58M better than 2023, led by Spain and with Argentina increasing its cash despite the drop in consumption Grupo – Resultado Neto Group – Cash Flow Grupo generation – Generación 1 de caja1 • Group continued cash generation has been positive in
Slide 29: Deleveraging and debt reduction
4. The improvement in the Group's financial results, as well as the sale of non- profitable assets, have allowed for deleveraging and debt reduction Group – Gross Debt, Net Debt and Leverage Ratio1 In millions of euros 900 25,0x 800 766 700 20,0x 590 574 600 542 15,0x 500 422 400 10,0x 300 241 200 5
Slide 30: Execution of the sustainability strategic plan
05. Execution of the sustainability strategic plan 3 0
Slide 31: Progress within the 2024-25 Sustainability Strategic Plan
5. During 2024, relevant progress has been made within the 2024-25 Sustainability 03. Strategic Plan – “Cada día cuenta” • Affordable access to quality • Internal DE&I food • Creation of social value in o Diverse culture neighborhoods and commercial o Inclusive environment areas DEVELOPMENT OF THE P
Slide 32: Summary – 2024 Highlights Grupo Dia
Summary – 2024 Highlights Grupo Dia 1. Dia Group completes its transformation and simplification process in 2024 2. Spain continues its like-for-like (LFL) growth above the market 3. Argentina has managed to increase its like-for-like market share in a context of generalized consumption decline 4. S
Slide 33: Priorities 2025+
Priorities 2025+ 1. Continue organic growth in Spain above the market 2. Initiate the store expansion plan in Spain 3. Increase the visibility of the improvements done in our value proposition to attract new customers and increase store traffic 4. Continue to support our customers in Argentina while
Slide 34: Financial communication plan to improve stock visibility
Our financial communication plan is focused on increasing the quality of available information and interactions with investors, thereby helping to improve the visibility and perception of Dia's stock We expect this plan will allow for a better reflection of Dia's good results in the share price Acti
Slide 35: Q&A
Q&A ACTUALIZAR CON BUENAS FOTOS O IMAGENES 35
Slide 36: Contact details
Contact details Investor Relations investor.relations@diagroup.com Media and Communications comunicacion@diagroup.com Access details for the Results Presentation: Date: February 28th, 2025, at 10:00 a.m. CET Link to webcast 36
Slide 37: Appendix
Appendix Mas cerca,
Slide 38: GSUB, Net Sales and Like-for-like
GSUB, Net Sales and Like-for-like Gross Sales Under Banner1 Net Sales 2 Total variation Total variation At current At constant At current At constan 3 (in millions of euros) FY24 Like-for-Like exchange exchange FY24 exchange exchange rates rates rates rates Spain continued 5,123.0 5.6% 5.5% 5.5% 4,2
Slide 39: Store network evolution
Store network evolution Spain continued1 Argentina Store network evolution Owned Franchised Total Store network evolution Owned Franchised Total Number of stores Dec. 31st, 2023 836 1,482 2,318 Number of stores Dec. 31st, 2023 252 796 1,048 Openings 1 8 9 Openings - 4 4 Net transfers (owned to franc
Slide 40: Income Statement summary (excluding reclassifications)
Income Statement summary (excluding reclassifications of discontinued operations) Income Statement (excluding reclassifications of discontinued operations) (in millions of euros) 2023 2024 Var. vs. 2023 Gross Sales Under Banner 8,994 7,539 (16.2%) Net Sales 6,759 6,370 (5.8%) Gross Profit 1,383 1,19
Slide 41: Income Statement (excluding reclassifications)
Income Statement (excluding reclassifications of discontinued operations) Income Statement exluding reclassifications of discontinued operations (in millions of euros) 2023 % Net sales 2024 % Net Sales Var. vs. 2023 Gross Sales Under Banner 8,994 7,539 (16.2%) 1 Net Sales 6,759 100.0% 6,370 100.0% (
Slide 42: Income Statement by country (2024) (excluding reclassifications)
Income Statement by country (2024) (excluding reclassifications of discontinued operations) Income Statement excluding reclassifications of discontinued 1operations Spain w/o 1 (In millions of euros) Clarel Portugal Argentina Brazil Group Total Clarel 1 Gross Sales Under Banner 5,123 79 251 1,778 30
Slide 43: Income Statement summary (including reclassifications)
Income Statement summary (including reclassifications of discontinued operations) (1) Income Statement (including reclassifications of discontinued operations) (in millions of euros) 2023 2024 Var. vs. 2023 Gross Sales Under Banner 6,742 6,901 2.4% Net Sales 4,993 5,880 17.8% Gross Profit 999 1,112
Slide 44: Income Statement (including reclassifications)
Income Statement (including reclassifications of discontinued operations) Income Statement including reclassifications of discontinued operations (in millions of euros) 2023 % Net Sales 2024 % Net Sales Var. vs. 2023 Gross Sales Under Banner 6,742 6,901 2.4% 1 Net Sales 4,993 100.0% 5,880 100.0% 17.
Slide 45: Income Statement by country (2024) (including reclassifications)
Income Statement by country (2024) (including reclassifications of discontinued operations) Income Statement including reclassifications of discontinued operations 1 1 (In millions of euros) Spain w/o Clarel Clarel Portugal Argentina Brazil Group Total Gross Sales Under Banner 5,123 - - 1,778 - 6,90
Slide 46: Adjusted EBITDA reconciliation to Net Results (excluding reclassifications)
Adjusted EBITDA reconciliation to Net Results (2024) (excluding reclassifications of discontinued operations) Spain w/o (in millions of euros) Clarel Portugal Argentina Brazil Group Total Clarel 1 Adjusted EBITDA 266 0 0 26 (49) 244 Effect of IAS 29 on hyperinflationary regulations 0 0 0 (132) 0 (13
Slide 47: Adjusted EBITDA reconciliation to Net Results (including reclassifications)
Adjusted EBITDA reconciliation to Net Results (2024) (including reclassifications of discontinued operations) 1 Spain w/o (in millions of euros) Clarel Portugal Argentina Brazil Group Total Clarel 1 Adjusted EBITDA 266 0 0 26 0 292 Effect of IAS 29 on hyperinflationary regulations 0 0 0 (132) 0 (132
Slide 48: Cash Flow breakdown (2024)
Cash Flow breakdown (2024) 2024 Cash Flows Disposal of Assets & Change in held for sale In millions of euros FCF = EUR 203 million Capital Increase assets & liabilities Adj. Portugal (2) 67 20 Clarel (3) (422) 264 9 (4) Brazil -76 12 (436) Large format stores sold to Alcampo -5 - Total (6) 28 56 (13
Slide 49: Capital Management & Financing (I) Net Financial Debt reconciliation
Capital Management & Financing (I) Net Financial Debt reconciliation Net Finacial Debt reconciliation (2024) 2024 excl. Portugal 2024 inclu. (in millions of euros) Clarel business Reclassifications business Reclassifications Non-current financial debt 518 - - 518 Non-current lease liabilities 234 -
Slide 50: Capital Management & Financing (II) Gross debt maturities
Capital Management & Financing (II) Gross debt maturities Gross Debt maturities profiles as of 12/31/2024 (excl. IFRS16) 1,2 In millions of euros +5 years 20 In 5 years 472 In 4 years 26 In 3 years 28 In 2 years 17 In 1 year 48 Non syndicated debt and other Syndicated debt Bonds 50 (1) With reclassi
Slide 51: FCF reconciliation with the annual accounts
FCF reconciliation between the version detailed in this presentation and the version contained in the annual accounts Statement of cash Financial and Financial debt 2024 Cash Flow flows presented in Lease payments IA29 adjust. Sale of assets income SUBTOTAL variation graph annual accounts expenses N
Slide 52: Capital Management & Financing (III) Balance sheet
Capital Management & Financing (III) Balance sheet Balance sheet including reclassification of discontinued operations (in millions of euros) 12/31/2023 12/31/2024 Var. % Var. Non-current assets 1,477.3 1,512.6 35.3 2.4% Stocks 315.0 290.0 (25.0) (7.9%) Trade and other receivables 161.2 133.1 (28.1)
Slide 53: Sales area evolution
Sales area evolution Grupo Dia sales area in ‘000m² 2023 2024 Var. Spain1 1,180 932 (21.0%) Argentina 281 279 (0.6%) Brazil 271 - (100.0%) Portugal 185 - (100.0%) Total Dia Group 1,917 1,211 (36.8%) 53 (1) Including Clarel.
Slide 54: Capex
Capex (in millions of euros) 2022 2023 2024 2024 vs. 2023 Spain continued (207.1) (136.9) (99.0) 37.9 Argentina (101.4) (71.8) (25.2) 46.6 Group continued Total (308.5) (208.8) (124.2) 84.5 Spain discontinued (1) (2.9) (3.1) (0.4) 2.7 Portugal (9.4) (5.5) (1.7) 3.8 Brazil (11.9) (11.4) (1.2) 10.2 Gr
Slide 55: Dia Group on the stock exchange
Dia Group on the stock exchange Throughout 2024, Dia Group’s stock performed favorably, reaching a maximum of €0.0167 and closing Stock price (euros) 2023 2024 the year at a price of €0.0153. Since the beginning of the year, the stock price has increased by 29.7%, 27.1pp above the growth of the Ibex
Slide 56: Exchange rate variations
Exchange rate variations Exchange rate variations 2023 2024 % Var. Euro / Argentine Peso (annual closing rate) 894.7970 1,068.8782 19% Euro / Brazilian Real (annual closing rate) 5.35903 - - 56
Slide 57: Shareholding Structure and Board of Directors
Shareholding Structure and Board of Directors 0.041% 22.2% Board of directors Members Position Mr. Benjamin Babcock Chairman – External Proprietary Director Mr. Alberto Gavazzi Member – External Proprietary Director Shareholding structure Mr. Sergio Antonio Ferreira Dias Member – Other External Dire
Slide 58: Glossary
Glossary • Adjusted EBITDA: results from adding depreciation and amortization, impairment of non-current assets, results from the disposal of non-current assets, restructuring costs, costs related to long-term incentive plans (LTIP) and impacts from the application of IAS 29 and IFRS 16 to net opera
Slide 59: Glossary
Glossary • Like-for-Like (LFL) sales growth: the calculation of like-for-like sales growth is performed on a daily basis and is based on the growth in gross sales under banner of that day with respect to the same day of the period being compared and at constant exchange rates, of all those stores th