Polish retailer Dino Polska has ramped up its expansion plans, investing in new store openings and the expansion of its logistics base, as it seeks to capitalise on a solid third quarter.
The group posted a 13% like-for-like sales increase in the quarter, as more consumers shopped locally due to the COVID-19 pandemic.
Reported revenue in the period stood at PLN 7.4 billion, while the business posted EBITDA growth of 42.9% year-on-year to PLN 723 million.
Capital Expenditure
Dino Polska increased its capital expenditure to PLN 681 million over the first nine months of the year (up from PLN 594 million in the same period last year), increasing its store count by 153 to 1,371 outlets as of the end of September.
In the past 12 months, it has opened 258 new stores.
“In keeping with our strategy, we invest in sustaining a high pace of expansion," commented Michał Krauze, management board member and CFO of Dino Polska S.A. "During the year, the Dino network has expanded by more than 23% and by 91% in the last three years.
“We have an intensive period in front of us, during which we are planning a large number of new openings to give consumers the opportunity to shop comfortably in Dino stores in new sites close to their homes."
Sustainability Investment
The group is also upping its investment in sustainability, and has installed photovoltaic panels on the rooftops of 237 stores, with a view to increasing this to 400 by early next year.
“Investments to reduce the company’s environmental impact are extremely important to us," said Izabela Biadała, management board member at Dino Polska S.A.
"At present, we are running several initiatives in this area with the largest one being the installation of photovoltaic panels on the rooftops of Dino stores across the country."
As of the end of the third quarter, the group boasts a net sales area of 532,700 square metres, and employs some 24,100 staff members.
© 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.
