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Dino Polska SA
Publikacja: 2025-05-16 15:52

UPDATE: Dino grocer maintains target of high single-digit LFL growth and EBITDA margin's return to growth in 2025

Listed retailer Dino maintains the target of high single-digit LFL growth this year and a return of the EBITDA margin to growth, the company's board member and CFO Michal Krauze told a teleconference for investors.


"The first quarter results are in line with expectations. We are maintaining our full-year targets, including high single-digit LFL sales growth and a return of the EBITDA margin to growth," Krauze said.

"We signalled that the first quarter would be burdened by the postponement of Easter, and this is not a good indicator for the whole year. High single-digit LFL and EBITDA margin improvement are also achievable," he added.

In the first quarter, the EBITDA margin was 7.24 per cent, compared to 7.38 per cent a year earlier.

LFL sales growth in the first quarter of 2025 was 0.5 percent against 11.9 percent in the prior year period.

According to Dino, the weaker LFL growth was impacted by the shift of Easter (the first quarter in 2024 versus the second quarter in 2025) and two fewer trading days in the first quarter of 2025 against the prior year period.

As Dino's CFO pointed out, the impact of these two factors on LFL growth can be estimated at 5 percentage points.

Krauze said that the effect of the postponement of Easter should in turn have a positive impact on LFL sales growth in the second quarter of this year.

He reported that the company is pleased with the performance of its shops over the Easter period.

However, in the CFO's view, customers are still cautious.

"The consumer is still cautious and is still doing thoughtful shopping, and our view is that they should do that shopping with us," Krauze assessed.

He reiterated that Dino's pricing policy is not changing, the chain is benching up to the discounters and the improvement in gross margin is due to improved shopping conditions.

"We have a stable situation in terms of the supply chain, which supports the margin improvement and a return to the margins of a few years ago," Dino's CFO said.

"We are committed to the gross margin as a driver to support a return to improved EBITDA margins," he added.

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