Business
Interim Results & Trading Update
Interim Results & Trading Update.
About this update from Dp Poland Plc
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement DP Poland plc ("DP Poland", the "Group" or the "Company") Interim Results for the Period Ended 30 June 2024 and Trading Update DP Poland, the operator of pizza stores and restaurants across Poland and Croatia, is pleased to announce its unaudited results for the six months ended 30 June 2024. Unaudited Financial Information Currency: £000 H1 2024 H1 2023 % change Group System Sales 27,274 21,386 27.5% Group Revenue 26,392 20,960 25.9% EBITDA* 2,052 1,051 95.2% EBITDA margin % 7.8% 5.0% N/A EBITDA*(Pre-IFRS 16) 180 (720) N/A Loss for the period (496) (1,592) N/A *excluding non-cash items, non-recurring items and store pre-opening expenses Financial highlights · Group revenue increased by 25.9% to £26.4m (H1 2023: £21.0m). o Poland revenue increased by 24.0% to £24.9m (H1 2023: £20.0m) mainly driven by a strong order count and despite the planned closure of five stores in the first half of 2024. o Croatia revenue increased by 69.1% to £1.5m (H1 2023: £0.9m) driven by store openings. · Group system sales were up 27.5% to £27.3m (H1 2023: £21.4m). · Poland system sales increased by 20.6% to PLN 130.2m (H1 2023: PLN 108.0m). o Strong Poland LFL (Like-for-Like) revenue growth of 22.2% in H1 2024 compared to H1 2023 is mainly driven by increased LFL order count of 18.8%, and increased customer order frequency. o Growth of both delivery and non-delivery Poland LFL System Sales of 23.7% and 19.1%, respectively, compared to prior period. · Strong average weekly order count of over 800 in the first half, an 18.2% increase on H1 2023, with a record weekly average of 921 orders per store in June 2024. · Group EBITDA improved by 95.2% to £2.1m (H1 2023: £1.1m). · Group loss for the period reduced to £(0.5)m in H1 2024 from £(1.6)m in H1 2023. · Cash at bank of £15.8m as at 30 June 2024 (£2.7m as at 30 June 2023) as a result of a successful fundraise in April 2024 (gross proceeds of £20.5m) partially offset by repayment of outstanding Loan Notes from Malaccan Holdings Ltd (£4.0m) and capital investments for new stores to be completed in 2024. · Net cash excluding IFRS 16 leases of £12.7m...