The listed retailer $DNP (+0,14 %)
Dino Polska is preparing for further store openings in 2026, which will partly affect this year's capital expenditure, said board member and CFO Michal Krauze in a conference call for investors. The company opens about two distribution centers per year. The cost of building one such center is estimated at PLN 130 to 150 million (EUR 30.5 to 35.2 million).
"We have more and more investment processes underway, which has an impact on capital expenditure. We want to prepare for more openings next year and this process is long, so it is already affecting this year's capital expenditure. We also have two logistics centers under construction," said CFO Krauze in the conference call.
Dino's Management Board expects the number of new store openings to increase by several percent in 2025 and total investments to amount to PLN 1.8 to 2.0 billion (421.9 to 468.8 million). In addition to the development of the store network, this will also include expenditure on logistics facilities and increasing Agro-Rydzyna's production capacity.
When announcing the first quarter results, the company assumed that capital expenditure in 2025 would be lower and would amount to PLN 1.7 to 1.8 billion (EUR 398.5 to 421.9 million).
According to Krauze, the cost of building the logistics center is estimated at PLN 130 to 150 million (EUR 30.5 to 35.2 million).
"We are currently in a phase where we are opening about two centers per year," said the CFO of Dino.
In the second quarter of 2025, Dino Polska opened 89 new stores. A total of 147 new stores were opened in the first half of the year, compared to 98 in the same period last year. At the end of June 2025, the Dino chain had 2,835 stores, 331 more than a year ago.
When asked about the chain's development in major Polish cities, Dino's CFO pointed out that the company has several dozen stores in such locations.
"We are starting to open stores in Warsaw because we have reached this city with our geographical expansion and have logistics capable of supplying stores in this area," Krauze said.
The Dino Group has lowered its LFL sales target for this year. For 2025, it expects LFL sales growth in the mid-single digits, whereas it had previously forecast growth in the high single digits.
LFL sales rose by 4.8% in the first half of 2025, compared to growth of 6.4% in the same period last year. In the second quarter alone, Dino's LFL sales increased by 8.8% compared to 1.8% in the previous year.
As reported, the main factor that positively impacted LFL sales growth (at around 3-4%) in the second quarter was the shift of the Easter date from the first quarter to the second quarter of 2025.
When asked whether LFL growth is expected to accelerate in the second half of the year, CFO Krauze replied: "The bad weather continued in July. (...) We are confident and are doing everything we can to increase sales volumes."
He pointed out that there are still many unknowns regarding the deposit system, which is why the company is trying to remain very flexible.
"I don't think the impact on the annual financial statements will be significant," estimated a Dino board member.
Source: https://biznes.pap.pl/
