Dino's net profit below expectations. The company summarized the third quarter of 2025

The net profit of the parent company of the Dino Polska group amounted to PLN 481.9 million in the third quarter of 2025, compared to PLN 438.2 million profit a year earlier, the company announced in its quarterly report. PAP Biznes consensus assumed PLN 497.9 million of net profit.

EBIT amounted to PLN 622.1 million compared to PLN 567.8 million a year ago and was 3.7 percent. lower than analysts' expectations of PLN 646.4 million.

The group's EBITDA amounted to PLN 750 million, which means an increase of 11.4%. rdr. PAP Biznes consensus assumed PLN 770.8 million EBITDA.

The group's revenues amounted to PLN 8.761 billion, which means an increase of 15.2%. rdr. Analysts expected revenues of PLN 8.966 billion.

The EBITDA margin was 8.6 percent, while a year earlier it was 8.9 percent.

LFL sales growth amounted to 4.4% in the third quarter. In the period January-September 2025, LFL sales growth amounted to 4.7%.

Cumulatively, after 9 months of 2025, the sales revenues of the Dino Group amounted to PLN 24.738 billion and were 14.9% higher than last year. higher y/y

EBITDA increased by 14.6% year on year. up to PLN 1.933 billion. The EBITDA margin was 7.8%. and was at the same level as the year before. The net profit of jd amounted to PLN 1.191 billion.

The company stated in the report that fresh products, including meat, cold cuts and poultry, accounted for 40.2 percent. group sales in the third quarter

Cost of sales increased by 15.1% in the third quarter. y/y, to PLN 6,689.4 million. Sales and marketing costs increased by 15.9%, to PLN 1,357.3 million. General and administrative expenses increased by PLN 30.5 million to PLN 91.9 million.

The Dino Group's net debt amounted to PLN 282.6 million as at September 30, 2025, which means an increase of PLN 86.8 million compared to December 31, 2024. The net debt to EBITDA ratio for the last 12 months was 0.11x at the end of September 2025. As at December 31, 2024, this ratio was 0.08x.

In the third quarter, the Group generated net cash from operating activities in the amount of PLN 833.4 million, i.e. 14.9 percent. more year-on-year, and after 9 months in the amount of PLN 1.607 billion.

In the third quarter, Dino Polska launched 98 new stores. Cumulatively, since the beginning of 2025, a total of 245 stores have been opened. At the end of September, the Dino network included 2,933 supermarkets.

In the period from January 1 to September 30, 2025, the group incurred capital expenditure of approximately PLN 1.57 billion, including fixed assets under construction.

As stated in the report, the company's management expects an average single-digit increase in LFL sales in 2025. This year, the number of new store openings is expected to increase by approximately 20 percent, and total capital expenditure is expected to amount to approximately PLN 2.0 billion (which, in addition to the development of the store network, will include expenditure on logistics facilities and increasing the production capacity of Agro-Rydzyna). In 2026, a further increase in the number of stores opened is planned.

pel/ asa/