Dino Polska falls on Q4 earnings miss, 'uninspiring' guidance
22/03/2024 08:41
** Shares in Dino Polska DNP.WA drop around 7% to their
lowest since October after the Polish food retailer misses Q4
earnings expectations
** Q4 EBITDA came in at 553.5 million zlotys, 10% below
expectations, according to Erste Group
** Dino said returning EBITDA margin to long-term upward
trend will be a challenge as 2024 will be another year of higher
operating expenses, coupled with more attractive price offering
for consumers
** "Weaker-than-expected results combined with bleak cash
flow and uninspiring guidance should lead to a negative market
reaction," Erste Group's analyst Krzysztof Kawa says in a note
ahead of market opening
** J.P.Morgan also points to the challenging backdrop in
Polish food retail, where volumes fail to recover despite
growing population purchasing power, and price war among
discounters continues
** The stock is at the bottom of Polish blue-chip index
WIG20 .WIG20 and among worst performers on pan-European STOXX
600 .STOXX index
(Reporting by Anna Pruchnicka)
((anna.pruchnicka@tr.com))