At the lowest time of Friday's session, Dino shares fell by as much as 9.5 percent. If such a decrease remained, it would be the seventh largest in the company's stock market history. After 13:00, the moods improved a bit and the reflection occurred, but the decrease is still solid and amounts to 7.7 percent, and the share price went below PLN 7.70.
The company's market value at a minimum of the day dropped by as much as PLN 4.6 billion to 44 billion. This means that The property of its main owner Tomasz Biernacki then fell to PLN 22.5 billion and was PLN 2.4 billion lower than on Thursday. Later, the loss decreased to PLN 1.9 billion. What are the reasons for the decrease in the stock course?
Dino net profit in the second quarter amounted to PLN 397 million and was higher by 14.3 percent. year on year. One could only admire the pace of profit multiplication, but the stock exchange looks at it differently. Expectations towards the company are very high, so the stock price more reflects forecasts, not historical results. And the forecasts of analysts said (the median forecasts collected by PAP) that the profit would increase to PLN 437 million. 9 % difference between the forecast and the real result This is more or less the reason for the decline in this level.
Dino catches up with Biedronka
Dino, at the same time, does not slow down the pace of network development, built mainly outside the huge cities, although recently videos made a sensation on the network that ridiculed the inhabitants of Warsaw Ursynów, who protested against placing a Dino store in their district. This means that the company of the richest Pole “turned the eye” also to the big cities.
At the end of June, Dino already had a network of 2835 supermarkets, which means that the largest competitor, i.e. Biedronka, is already missing below a thousand.
However, the fact that Dino is mainly smaller towns, and Biedronka covers the whole country including large cities, causes that the Polish network generates less revenues and profits to the store than a Portuguese competitor. According to our estimates, calculated to the store Biedronka achieved PLN 2.4 million in revenues per month in the second quarter, while Dino a little over PLN 1 million. Positive EBITDA (operational result increased by depreciation) for the Biedronki store is about 179 thousand. PLN per month, and in the case of Dino – 71 thousand zloty.
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The Dino network, however, grows much faster (+147 stores in the first half of the year) than Biedronki (+72 stores) and customers leave more and more money in them. Comparable sales (LFL), i.e. calculated excluding new and closed stores, increased in the second quarter in the Dino network by 8.8 percent, while in Biedronka by 5.3 percent. In addition, the EBITDA margin increased in Dino to 7.54 percent. In the second quarter compared to 7.19 percent a year earlier. In the first half of the year it was 7.4 percent. In the case of Biedronka, the margin in the first half of the year was 7.7 percent.
Dino Polska investors may be disturbing the increase in financial costs, i.e. mainly interest on debt. In the second quarter they increased by as much as 29.3 percent. year to year to PLN 39 million. The company's obligations increased by 13 percent during the year. up to PLN 5.4 billion. Quickly, by 24.6 percent The costs of sales (including employee salaries) and marketing also increased to PLN 1.5 billion, but they fell by 24.5 percent. up to PLN 37 million in general management.
Cash resources increased by 866 percent during the year. up to PLN 119 million, the company is getting ready for dividend or investment. In the investment achievements of the first half of the year, the company indicates expenditure related to the opening of new Dino supermarkets, the development of the production capacity of the Agro Rydzyna meat plant, the development of logistics facilities (in the first half of 2025, the 11th distribution center of the Company in Kolonia Kywiek was launched in the Warmian-Masurian Voivodeship).
The company's expenditure into material fixed assets exceeded PLN 1 billion in the first half of the year and were higher by as much as 50 percent. year on year. As you can see, the company is not going to slow down the pace of development.
