Dino Polska Sees 24.3% Growth In Revenue In First Quarter
Polish retailer Dino Polska has reported 24.3% year-on-year growth in revenue to PLN2.76 billion (€600 million) in its first quarter, driven by like-for-like sales growth and the expansion of its store network.
EBITDA for the quarter increased 27.7% year-on-year to PLN 243 million, while EBITDA margin increased 0.2 percentage points to 8.8%.
As of the end of March, the retailer’s network comprised 1,532 stores, or 298 more than in March 2020, with 59 new outlets opening in the first quarter of 2021.
Izabela Biadała, Dino Polska Management Board Member, said, “Our dynamic rollout is our response to consumers’ evolving needs as they want to do their daily grocery shopping close to home.
“On top of conveniently located stores, we offer them constant access to fresh products at very attractive prices, which we deliver to our stores every morning.”
Capital expenditure amounted to PLN 367 million in the first quarter, which the retailer described as a ‘record-breaking’ level in its history.
The investment has allowed the company to create 1,125 additional jobs, taking the overall headcount to nearly 27 thousand people at the end of March 2021.
The company is also investing in environmentally friendly measures along with store network expansion.
Its new stores are equipped with PV panels to ensure access to electricity from renewable sources.
The company plans to extend this feature to other distribution centres.
Elsewhere, the retailer has completed the construction of its distribution centre in Sieroniowice in southern Poland. It is slated to open this year.
The construction of another distribution centre in Sierpc in central Poland is close to completion, and the facility is scheduled to open in the latter half of the year.
Each distribution centre will create around 500 jobs, with approximately 180 people taking up transport-related work. These two distribution centres will jointly serve another 700-800 Dino stores, the retailer added.
An 'Attractive Partner'
Michał Krauze, management board member of Dino Polska S.A., said, “In 2020, we opened a record-breaking number of 255 stores. This year we intend to increase that number significantly. That way, we will not only be closer to our customers, but we will also become a more attractive partner for smaller, regional food producers on account of our growing business size in various regions around the country.
“Closely cooperating with them has always been the foundation for building the product offering in Dino stores. This year, in connection with the opening of two distribution centres, we will be able to offer these producers many new growth opportunities.”