Polish food retail chain Dino reported a preliminary full-year net profit of 1.51 billion zlotys (€362.4 million), up 7.2% year-on-year, as higher revenues offset rising operating costs and low consumer confidence.
The result was slightly above analysts' expectations of 1.48 billion zlotys (€355.2 million).
Dino Polska is one of the biggest supermarket chains in Poland, playing a major role in the country's retail sector.
Although consumer confidence has been gradually returning in central Europe as an inflation shock related to the war in Ukraine and the COVID-19 pandemic fades, many people in Poland remain cautious about spending.
By The Numbers
According to preliminary figures, Dino's revenue increased by 14% year-on-year to 29.3 billion zlotys (€7.03 billion), while earnings before interest, depreciation, and taxes (EBITDA) came in at 2.32 billion zlotys (€556.8 million).
In the fourth quarter, the company's network opened 116 new stores, signifying a 75.8% growth compared to the same period last year. By end of 2024, Dino had 2,688 stores in Poland.
The company's like for like (LFL) sales grew 5.3% in 2024, down from 17.2% last year.
As of February, Dino has reached a market capitalisation of 47.25 billion zlotys (€11.34 billion), putting it ahead of other retail food chains such as Żabka (22.60 billion zlotys (€5.42 billion)) and Eurocash (1.31 billion zlotys (€314.4 million)).
Outlook
Dino expects 2025 store count to exceed 2024 in a high teens percentage range. Capital expenditures for 2025 are expected to reach about 1.7-1.8 billion zlotys (€408-€432 million), the company said.
The retailer's goal for the year is to bring the EBITDA margin back onto the path of gradual growth, following the dip to 7.9% in 2024 from 8.7% in reported in 2023.
It also expects a high single-digit rate growth in LFL sales.
