Added to YB: 2026-04-07
Pitch date: 2026-04-03
DNP.WA [neutral]
Dino Polska S.A.
Author Info
No bio for this author
Company Info
Dino Polska S.A., together with its subsidiaries, operates a network of medium-sized grocery supermarkets under the Dino brand in Poland.
Market Cap
PLN 32.9B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.78
P/E
21.14
EV/Sales
0.97
Sector
Consumer Staples Distribution and Retail
Category
growth
Dino Polska 2025 Results. Is the thesis finished?
DNP.WA (earnings): FY25 rev 33,634M PLN (+14.9% YoY), 345 stores opened (vs 283 in '24). EBITDA 2,546M PLN (+9.9%), margin compressed 30bps to 7.6% on 21.2% labor cost growth. LFL +4.4% lagged food inflation (4.7%) but beat Biedronka. Q4 margin pressure (-2.8% EBITDA). Net cash 199M PLN, FCF 610M PLN. Trading 18x P/E, 10x EV/EBITDA (vs historical 30x, 20x). Mgmt prioritizing growth/share gains over margin. Thesis intact: can 3x stores in Poland long-term.
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