Final results for the half year to 30 June 2017DP Poland PLC (“DP Poland or the “Company”)
Final results for the half year to 30 June 2017
Store numbers to date up 37%. System sales up 50%. Like-for-like sales strengthening through the summer. Combined corporate store and commissary contribution +39%.
DP Poland, through its wholly owned subsidiary DP Polska S.A., has the exclusive right to develop, operate and sub-franchise Domino’s Pizza stores in Poland. There are currently 48 Domino’s Pizza stores in 19 Polish cities, 25 corporately managed, 2 under management contract and 21 sub-franchised.Highlights
- 48 stores open to-date, 13 stores opened in 2017
- 37% increase in stores since 1 Jan 2017
- 3 stores currently under construction
- On track to cross 50 store mark in October 2017
- System Sales* up 50% (PLN) 27m PLN H1 2017 (18m PLN H1 2016)
- Like-for-like** System Sales (PLN) up 17% H1 2017 on H1 2016
- Latest like-for-like System Sales (PLN): July up 24% and August 28%, 2017 on 2016
- 19 consecutive quarters of double digit like-for-like System Sales growth, Q4 2012 – Q2 2017
- Combined corporate store EBITDA and commissary variable profit*** up 39%
- Group EBITDA† losses decreased 5% H1 2017 on H1 2016 at constant exchange rates††
- Group EBITDA losses increased -3% H1 2017 on H1 2016 at actual exchange rates†††
- Second commissary is operational: total commissary capacity c.150 stores
- 73% of delivery System Sales online
“We are on track to cross the 50 stores mark in October, as we drive towards the critical mass that will support national television advertising and further economies of scale in procurement. New store openings in combination with robust like-for-like sales growth increased System Sales by 50% in the first half of 2017. In July and August we saw like-for-like System Sales grow by 24% and 28% respectively.
The twin sales streams of corporate stores and commissary delivered an increase in combined corporate store EBITDA and commissary variable profit of 39%. As our newest stores’ sales build and they move into profitability we will see a further uplift in this figure.
Our new commissary opened at the end of August, ahead of schedule, and is now supplying stores to the north, south and west of the country, while our original facility in Warsaw continues to supply the capital city and the east.Our expansion is further underpinned by the robust growth of the Polish economy.”
Our expansion is further underpinned by the robust growth of the Polish economy.”
18 September 2017
Download full announcement here: H1_Results_DPP_2017
Download presentation of H1 2017 Results here:H1_ Results_DPP_presentation_180917
View Peter Shaw presenting H1 results by clicking here
View an interview with Peter Shaw, via BRR Media, by clicking this link
- 020 3393 6954DP Poland PLC
- Peter Shaw, Chief Executive
- 020 7418 8900 Peel Hunt
- Adrian Trimmings/George Sellar
- * System Sales – total retail sales including sales from corporate and sub-franchised stores.
- ** Like-for-like growth in PLN, matching trading periods for the same stores between 1 January and 30 June, 2017 and 1 January and 30 June, 2016
- *** Sales minus variable costs.
- † Excluding non-cash items, non-recurring items and store pre-opening expenses
- †† Exchange rate average for H1 2017 £1: 4.9625
- ††† Exchange rate average for H1 2016 £1: 5.6098