Interim results for the half year to 30 June 2015DP Poland PLC (“DP Poland or the “Company”)
Interim results for the half year to 30 June 2015.
11 consecutive quarters of double digit like-for-like system sales growth. Improving corporate store and commissary performance. H1 Group EBITDA losses reduced.
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 19 Domino’s Pizza stores in Poland, across Warsaw and Krakow, 12 corporately managed and 7 sub-franchised.
- 11 consecutive quarters of double digit like-for-like system sales* growth, Q4 2012 – Q2 2015
- Total system sales* PLN 11.4m H1 2015 vs PLN 9.3m H1 2014, excluding 3 stores closed in 2014, up 23%
- Total system sales* PLN 11.4m H1 2015 vs PLN 10.1m H1 2014, including 3 stores closed in 2014, up 13%
- Maintaining strong like-for-likes**
- Like-for-like system sales* (PLN) up 16%
- Like-for-like gross profit*** (PLN) up 27%
- Like-for-like order count† up 15%
- Total stores†† EBITDA positive for each month January – June 2015
- Top 3 corporate stores averaged +£26k††† EBITDA each in H1 2015 vs +£7.5k††† each in H1 2014
- Oldest corporate store delivers EBITDA of +£29.5k††† in H1 2015
- Growing commissary contribution through sales royalties and food and non-food sales to sub-franchisees
- Group EBITDA^ losses reduced 40% H1 2015 (£773,591)††† on H1 2014 (1,299,930)^^
- Fourth store opened in Krakow in late August 2015, first store to open in a third city in October 2015
- Sub-franchisee RHPP acquired its fifth store on 1 September 2015
- Double digit like-for-like system sales growth continued through July and August 2015, with +18% and +17% respectively
Peter Shaw, Chief Executive of DP Poland said:“The continuing improvement in corporate store EBITDA performance, coupled with a growing contribution from sub-franchise sales royalties and commissary sales, plus a reduction in central expenditure has considerably reduced Group EBITDA losses in the first half, compared to the first half of last year.
On the back of continued improvement in store performance we have been focused this year on finding and negotiating new sites. Our fourth store in Krakow opened in late August and is performing well. In October we will be opening in a third Polish city, joining Warsaw and Krakow and we are targeting further store openings in additional cities by the year end.
I am delighted to announce the imminent opening of our new commissary, which will give us the capacity to supply fresh dough and ingredients to our expanding store estate across Poland, while positively impacting the cost of dough production, warehousing, order picking and goods handling. With an initial capacity to supply 50 stores, the new commissary will give us the option to expand production capacity further to supply up to 100 stores, with minimal additional capital outlay.”
20 July 2015.
- 020 3393 6954DP Poland PLC
- Peter Shaw, Chief Executive
- 020 7418 8900 Peel Hunt
- Dan Webster/Richard Brown/George Sellar