In Q1 2023, Dino Polska’s top line was up 43.8% over Q1 2022. At the end of March the Dino network numbered 2,210 stores, 54 more than one quarter ago and 330 more than at the end of March 2022.
“Geographic expansion continues to be one of our most important priorities. Although we slightly scaled back our short-term plans in 2022 regarding capital expenditures to prepare the company better to function in a more demanding economic environment, the consumer demand we see for stores in the Dino format during every opening strengthens our conviction when it comes to there being a great amount of potential for us to continue expanding our network”, says Michał Krauze, Management Board Member of Dino Polska.
To develop the network in a way that ensures consumers access to high quality fresh products on a recurring basis Dino Polska launched its eighth distribution center in the community of Kaliska in the Kujawy and Pomeranian voivodship in the second quarter of this year. The expansion of the distribution network also enables the company to expand its scope of cooperation with local agricultural businesses and food producers for whose products the Dino network is happily becoming the preferred distributor.
The offering in the Dino stores coupled with their convenient locations is steadily attracting new customers which is conducive to maintaining a high LfL sales growth rate (like-for-like; in stores in existence for more than a year), which consistently and positively sets it apart on the overall retail food market in Poland. Dino’s LFL sales growth in Q1 was 27.2%, following growth of 20.4% in the corresponding period of the previous year. In combination with adding new stores to the network, this contributed to growth in total sales revenue from PLN 3.85 billion in Q1 2022 to PLN 5.54 billion at present, or 43.8%.
The capital expenditures for development incurred by Dino Polska in Q1 2023 totaled PLN 311 million. The headcount in the Dino Group climbed to 38.1 thousand people at the end of the quarter and was up by 4.7 thousand from one year ago.
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