REG - DP Poland PLC - Trading Update

DP PolandAnnouncement

29/04/2024 07:00

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RNS Number : 2891M  DP Poland PLC  29 April 2024

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 sales(1)   62,2      17,3%

 LFL System sales(2)     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 orders(1)  1,1       14,4%

 LFL System orders(2)    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 sales(1)  0,9   72,2%

 LFL System sales(2)    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: ir@dppoland.com

 

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.

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