Polish retailer Zabka posts Q2 core profit beat, maintains expansion target
Polish retailer Zabka posts Q2 core profit beat, maintains expansion target July 30 (Reuters) - Polish convenience store operator Zabka Group ZAB.WA posted a second-quarter adjusted core profit that beat analyst expectations on Thursday, as store network expansion, cost efficiencies and like-for-like sales growth drove earnings.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) adjusted for one-off items reached 1.23 billion zlotys ($329 million) in the quarter, topping a company-compiled consensus of 1.17 billion zlotys.
• The retailer opened 778 new stores in the first half of the year, bringing its total to 13,063.
• It expects to meet its 2026 target of adding over 1,300 new locations.
• The retailer forecast mid- to high single-digit like-for-like sales growth for the full year, after its second-quarter growth of 4.0% slightly missed a 4.2% estimate.
• Logistics optimization and energy savings outweighed rising franchisee costs.
• It expects to maintain its adjusted EBITDA margin toward the upper end of its 12-13% target range, after reaching 13.3% in the second quarter.
($1 = 3.7443 zlotys)
(Reporting by Rafal Nowak; Editing by Matt Scuffham)
((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))
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