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DP Poland PLC announced a trading update for Q1 2024. In Poland, like-for-like system sales increased by 17.9% year-on-year, and like-for-like system orders grew by 14.8% year-on-year, with total system sales reaching PLN 62.2 million. Croatia recorded total system sales of EUR 0.9 million, a 72.2% year-on-year increase. The Group expects to release its full-year 2023 results in early June, anticipating 2023 EBITDA figures to be in line with market expectations.
| Date | 29 Apr 2024 |
| Time | 07:00:05 |
| Category | Trading updates |
| ID | 2891M |
DP Poland PLC
("DP Poland", the "Company" or the "Group")
Trading Update Q1 2024
DP Poland, the operator of Domino's pizza stores and restaurants across Poland and Croatia, is pleased to announce a trading update for Q1 2024.
DP Poland's Chief Executive Officer, Nils Gornall, said:
"In the first quarter of 2024 we delivered another strong performance with LFL system sales growth of 17.9% YoY in Poland, driven by a strong order count up 14.8% YoY.
After almost two years since the adoption of a High Volume Mentality across all operations, we have transformed the Polish business into one of the fastest growing Domino's markets globally. Momentum in the business is very strong and we are in an excellent position to drive Company expansion.
We are very pleased with the Domino's Pizza Group investment and results of the recent oversubscribed fundraise and are ready to embark on the journey to deliver 200 stores by the end of 2026 and transition the business towards a franchise led model."
Trading Update Q1 2024
Poland
|
PLNm |
Q1 2024 |
|
|
|
PLNm |
% YoY change |
|
Total System sales1 |
62,2 |
17,3% |
|
|
|
|
|
LFL System sales2 |
60,8 |
17,9% |
|
non-delivery |
19,0 |
17,7% |
|
delivery |
41,8 |
18,0% |
|
|
|
|
|
M Orders |
Q1 2024 |
|
|
|
M Orders |
% YoY change |
|
Total System orders1 |
1,1 |
14,4% |
|
|
|
|
|
LFL System orders2 |
1,1 |
14,8% |
1 System Sales and System orders - total retail sales or orders including sales or orders from corporate and sub-franchised stores.
2 Like-for-like System Sales growth in Polish Złoty, matching trading periods for the same stores or orders growth in units, matching trading periods for the same stores
Trading in Poland remains strong, with consistent double digit sales growth across both delivery and non-delivery channels. This was driven largely by strong order count growth despite two fewer trading days due to an early Easter and the comparable period in 2023 being supported by a TV campaign. These results are underpinned by the constant focus on a compelling value proposition for customers, high-quality pizzas, delivered quickly.
Croatia
|
EURm |
Q1 2024 |
|
|
|
EURm |
% YoY change |
|
Total System sales1 |
0,9 |
72,2% |
|
|
|
|
|
LFL System sales2 |
0,5 |
7,5% |
1 System Sales and System orders - total retail sales or orders including sales or orders from corporate stores.
2 Like-for-like System Sales growth in Euro, matching trading periods for the same stores or orders growth in units, matching trading periods for the same stores
Total System Sales and LFL System Sales in Croatia remain strong, with the two new stores opened in 2023 outperforming our initial expectations.
The encouraging trading performance in Q1 2024 underpins confidence to open additional corporate stores and invite franchisees to partner with us in 2024 and beyond.
The Group expects to announce its final results for the year ended 31 December 2023 in early June, which will include a webinar for investors. The Management expects that full year EBITDA figures for 2023 will be in line with market expectations.
The person responsible for arranging the release of this announcement on behalf of the Company is Nils Gornall, CEO.
Enquiries:
DP Poland plc
Nils Gornall, CEO
Tel: +44 (0) 20 3393 6954
Email: [email protected]
Singer Capital Markets (Nominated Adviser and Broker)
Shaun Dobson / Jen Boorer
Tel: +44 (0) 20 7496 3000
Notes for editors
About DP Poland plc
DP Poland has the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland and Croatia. The group operates 116 stores and restaurants throughout cities and towns in Poland and Croatia.