DIA Group generated gross sales under banner of EUR2.5bn in Q1, up 2.9% versus the same period last year
May 11, 2017
Comparable sales grew by 4.1% between January and March.
Adjusted EBITDA reached EUR123m, up 1.9%.
In Q1 2017, DIA Group generated gross sales under banner of EUR2.5bn, implying growth of 2.9% in local currency compared to the same period last year and an increase of 6.8% in euros. Argentina and Brazil contributed with 13% growth in gross sales under banner in local currency, reaching EUR933m.
Between January and March, comparable sales rose by 4.1% with a contribution of 0.8% from Iberia and 10% from Argentina and Brazil.
In Spain, gross sales under banner fell by 2% to EUR1.376bn due to the restructuring of the store network, with the closure of non-profitable stores.
“After the solid operating performance of the first quarter, we are on track to meet our 2017 targets. In Iberia, same-store sales growth remained in positive figures with LFL ex-calendar of 1.4% in the first four months of 2017. Initial tests of the new layout for DIA Market and La Plaza de Dia stores in Spain brought on encouraging results. While in Argentina DIA continued to see a better- than-the-market trend in terms of top-line growth, Brazil slowed down, impacted by the on-going challenging conditions of the market. We are confident that our immediate reaction will push forward |
our sales in Brazil in the coming months”, declared Ricardo Currás, CEO of DIA Group. Group had a network of 7,398 stores. Underlying net profit fell by 6.4% in local currency to EUR39m due to the higher financial expenses in Emerging Markets and bigger volume of corporate taxes. DIA Group has initiated a process to explore its strategic options in its business in China. |
