Spanish retailer DIA has reported growth in sales and profit in its financial year 2024, driven by robust performance in its home market.
DIA España reported a 5.6% increase in comparable sales on a like-for-like basis, outperforming the market for the third consecutive year.
Adjusted EBITDA in the business unit increased by 37% to €265 million, while the margin increased by 1.4 percentage points to 6.2%.
In Argentina, the retailer achieved positive adjusted EBITDA and cash flow in the context of a sharp decline in consumption that hampered gross sales.
Good expense management allowed the company to maintain its profit margin at around 2%, the retailer added.
Group Results
Overall, Grupo DIA reported net income of €28 million in the financial year as Spain drove growth.
The retail group's adjusted EBITDA saw double-digit growth of 15% to €292 million, while the adjusted EBITDA margin stood at 5%.
The company also saw improvement in cash generation with operating cash flow amounting to €203 million, in 2024 - €58 million more than in 2023.
Martín Tolcachir, global CEO of Grupo DIA, added, “The 2024 results confirm the success of our transformation and simplification, consolidating our unique omnichannel value proposition in proximity.
“Spain has been the engine of this growth, and Argentina has shown extraordinary resilience in a challenging year marked by falling consumption.”
Outlook 2025
DIA hopes to accelerate growth and improve business performance in its financial year 2025.
It will continue to focus on organic growth in Spain and commence its store expansion plan.
It will also explore organic and inorganic strategic alternatives that will support DIA's development and creation of long-term value.
In Argentina, the retailer will continue to support households while protecting the profitability and cash flow of the business.
Tolcachir added, “We have two platforms with excellent performance and great growth potential. Proud of what we have achieved, we will continue to look ahead by starting a new stage of growth acceleration.
“We are committed to taking DIA to the next level, generating value for our customers, franchisees, shareholders, and the communities of which we are a part.”
