Dino Polska S.A. Posts Solid Top-Line Growth In H1 2019
Polish grocer Dino Polska S.A. has posted 30.5% year-on-year growth in revenue, to PLN 3.5 billion (€800 million), in the first half of its financial year.
The company's EBITDA grew by more than 36.8% during the period and its EBITDA margin increased by 0.4 percentage points year-on-year, to 8.9%.
It attributed the strong performance to Dino’s steady network expansion and higher like-for-like sales in existing stores, which grew 11.1% in H1 2019.
President of the management board of Dino Polska S.A., Szymon Piduch, said, "We continue to observe a positive response to new Dino store openings as they rapidly win consumer confidence.
"The high pace of like-for-like sales and the growing amount of shopping done in Dino stores are the best possible score clients can give to our product offering."
In H1 2019, the retail giant invested PLN 434 million (€99.6 million) towards network development, 55.9% more than in the corresponding period in 2018.
The retailer opened 81 new stores in the first half, in addition to the launch of a new distribution centre in Wolbórz, in the Łódź region.
It also commenced the construction of a new distribution centre in the town of Łobez, in the Western Pomeranian region.
The retail grocery market is growing in Poland and the favourable macroeconomic environment are conducive to the further expansion of the Dino network, the group said.
Unemployment is declining in Poland and the country is witnessing an increase in disposable income, the retailer added. Additionally, social programmes run by the government are augmenting the standing of households.
Dino Polska anticipates that these positive macroeconomic trends will persist through subsequent quarters, and exert a positive impact on the retail grocery market across the country.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.