Poland's Dino falls after EBITDA margin decline

Dino Polska

24/03/2023 09:42

** Shares in Dino Polska  DNP.WA  fall as much as 5% after
the Polish food retailer reported lower EBITDA margin and weaker
cash generation
    ** Janusz Pieta at mBank brokerage says the market had
expected Dino's EBITDA margin to improve, while it fell 0.2 p.p.
to 9.3% in 2022, missing its own goal of flag margin for the
year
        ** Pieta also notes the company's cash flow was also
somewhat disappointing
  
    ** "(...) The cash flow from operations turned out to be 40%
lower year-to-year in fourth quarter, whereas in 2022 it
declined by about 5%, despite that the company has grown very
dynamically in terms of EBITDA (...)"
    ** By 0930 GMT the company's shares were down 2%

 (Reporting by Mateusz Rabiega and Anna Banacka)
 ((Mateusz.rabiega@thomsonreuters.com; +48 58 769 67 57))