Final results for the full year to 31 December 2014

DP Poland PLC (“DP Poland or the “Company”)

Final results for the full year to 31 December 2015.

System sales up 35%. 9 consecutive quarters of double digit like-for-like system sales growth. Step change in store EBITDA performance. Group EBITDA improved 15% pre-exceptionals.

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. It currently operates 12 corporate stores in Warsaw and Krakowand franchises 6 stores in Warsaw.

Highlights

  • System sales* £3.96m** 2014 vs £2.93m** up 35%
  • Strong like-for-likes***
    • Like-for-like system sales* (PLN) up 19%
    • Like-for-like gross profit**** (PLN) up 18%
    • Like-for-like order count† up 19%
  • Like-for-like system sales (PLN) January 2015 up 18%, February 2015 up 17%
  • Total stores†† EBITDA positive for each month of Q4 2014
  • Top 3 corporate stores averaged +£24k** EBITDA each in 2014 vs -£12k** each in 2013
  • Oldest corporate store delivers EBITDA of +£34k††† in 2014
  • Group EBITDA^ improves 15% pre-exceptional items††† 2014 (£2.41m) 2013 (£2.84)^
  • Significant new store openings targeted for 2015.

Peter Shaw, Chief Executive of DP Poland said:

“As announced in February, we have seen significant improvements in System Sales and store EBITDA. With our most mature corporate stores delivering continuous year-on-year EBITDA growth and a 15% improvement in Group EBITDA, pre-exceptionals, the business is in a markedly stronger position than it was 12 months ago..

For 2015 we will continue to focus on store performance while regaining momentum in store roll-out. The planned expansion of the store estate and the requisite expansion of commissary capacity will require us to consider sources of financing, including a potential issuance of equity in due course.

We have a compelling consumer offer, strong operations and effective marketing, as assessed by our franchisor, DPI, and as such we anticipate 2015 to be another year of significant progress.”

23 March 2015.

Enquiries:

    • 020 3393 6954DP Poland PLC
    • Peter Shaw, Chief Executive
    • 020 7418 8900 Peel Hunt
    • Dan Webster/Richard Brown/George Sellar

      • See ‘Our results’ page for full results.

* System Sales – total retail sales including sales from corporate and sub-franchised stores.
** Converted at constant exchange rate: average for 2014 PLN5.1924:£1
*** Like-for-like growth in PLN, matching trading periods for the same stores between 1 January and 31
December, 2013 and 1 January and 31 December, 2014.
**** Sales minus food costs. This figure excludes franchised stores
† Order count for corporate and franchised stores
†† Total stores includes corporate and franchised stores
††† Exceptional Items include one-off provisions for estimated outstanding net rent obligations for three closed stores, an impairment charge for assets at those stores which could not be deployed elsewhere and an impairment charge for store disposals to franchisees where the sale price was less than Net Book Value
^ Reported with average exchange rates for 2014 and 2013, according to IFRS

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