Dino Polska Sees Sales Grow By Double Digits In First Half
Polish retailer Dino Polska has announced a 13.3% increase in like-for-like sales across its store network in the first half of its financial year, as well as EBITDA growth of 36.9%.
The group posted revenue for the half-year period of PLN 4.7 billion (€1.07 billion), which is more than a third higher (33.9%) on the corresponding period last year.
It opened 84 new stores between January and June, giving it a total of 1,302 outlets as of the end of the half year, which is 246 more than at the same time last year.
“Recent months have demonstrated that our store format is very attractive to consumers who know that the Dino brand means a rich, diverse and affordable product offering," commented Izabela Biadała, member of the management board of Dino Polska S.A.
The company opened its fifth distribution centre in the period, in Łobez in the Western Pomeranian region, as well as announcing the construction of two further DCs, in Sieroniowice and Sierpc, which are due to open next year.
Dino Polska said that the opening of the new distribution centres will enable it to enhance relationships with local producers of fruit, vegetables and dairy products.
The retailer spent around PLN 436 million on capital expenditures in the first half of the year, including the rollout of photovoltaic installations on the roofs of several stores, as well as other initiatives to reduce electricity demand.
By the start of next year, Dino hopes to have 400 stores across Poland powered by solar energy, with 10% of its store network currently boasting solar panels.
"In 2020 we intend to earmark roughly PLN 950 million on investments, with the vast majority being spent on rolling out our store network and developing our logistical base," commented Michał Krauze, the retailer's chief financial officer.
As of the end of June 2020, Dino Polska operated 1,302 stores across Poland.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.