Polish retailer Dino Polska has reported strong growth in profitability and dynamic expansion of its store network in its financial year 2019.
The company’s revenue increased to PLN 7.6 billion during the financial period, up 31% year-on-year, driven by a 11.6% growth in like-for-like sales.
The company posted EBITDA growth of 34.1% in 2019, with the EBITDA margin improving to 9.5%.
The retailer added 243 new stores to its network to reach a total of 1,218 outlets under the Dino banner by the end of 2019.
Its total selling area increased by 26% during this period compared with 2018 and exceeded 472,000 square metres.
The retailer opened almost 105 new Dino stores in the fourth quarter of 2019.
President of the management board of Dino Polska S.A., Szymon Piduch, said, “The growing number of people visiting our stores is a source of pleasure for us. We are constantly striving to earn the trust of our customers and we expend significant effort to align our product assortment to their needs.”
The total capital expenditure of the company amounted to PLN 827.8 million in 2019.
This was mainly allocated to new store openings and the expansion of its logistics facilities.
The company commissioned its fourth distribution centre in Rzeszotary in Lower Silesia and commenced construction of a distribution centre in Łobez in northwestern Poland.
It also opened a new distribution centre in Wolborz in central Poland to replace the previously leased distribution centre in Piotrków Trybunalski.
The Dino Group has allotted PLN 950 million in capital expenditure for the year 2020 to further develop its business.
The company aims to sustain its high like-for-like sales growth in its new financial year along with growing its profits.
Piduch explained, “We would like to maintain our current pace of growth. We continue to see a lot of space to enhance the density of our network in southwestern Poland and expand into other regions.
“In accordance with our policy to date, we would like to earmark the entirety of our profits for continued growth.”
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.