Dino Polska Posts Revenue Growth Of 42.3% In First Quarter
Polish retailer Dino Polska has posted a 42.3% year-on-year growth in revenue to PLN 2.22 billion (€490 million) in the first quarter of its financial year, ended 31 March.
The company’s EBITDA increased by 44% to PLN 190 million (€41.8 million), with an EBITDA margin of 8.6%.
Like-for-like sales were up 20.3% in the period, confirming that the store format in Dino outlets is 'well-tailored to cater to consumers’ needs', the company added.
'High Level Of Standardisation'
President of the management board of Dino Polska S.A., Szymon Piduch, explained, “Our priority was to ensure the safety of our employees and customers and we have proven that the high level of standardisation in Dino’s stores enables us to adapt efficiently to very demanding market conditions.
“At the same time, we continue to follow our pricing policy, which while incorporating high quality and extensive diversity in our offering is an important way of instilling trust among our customers.”
The retailer closed the quarter with 1,257 stores, 248 more than last year, and opened an additional 39 stores during this period.
In addition, the company focused on completing the construction of its fifth distribution centre in Łobez in the Western Pomeranian region, which is scheduled to commence operations in the second quarter.
Dino Polska has earmarked approximately PLN 950 million (€208.8 million) in capital expenditure for the full year 2020.
A bulk of this amount will be used for the expansion of its store network and the development of logistics facilities, the company added.
The retailer also plans to invest in its environmental policy, which includes the installation of solar panels and LED lighting systems.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.