DIA Group increases its gross sales under banner by 10.5% in the first quarter of the year, reaching EUR2.4bn

In the first quarter of the year, the DIA Group recorded gross sales under banner of EUR2.4bn, implying a 10.5% increase in local currency versus the same period in the previous year. This improvement was supported by the integration of the recent acquisitions, the positive performance of Iberia and the Emerging Markets, as well as client confidence.

In Iberia, gross sales under banner rose by 2% to EUR1.599bn euros, and Spain in particular grew by 2.2% to EUR1.406bn. In Argentina, Brazil and Chine, the increase was 24.8% in local currency, reaching EUR801m.
From January to March, the DIA Group’s comparable sales rose by 7%. This is the highest increase posted by the company since its stock market flotation in July 2011.

“DIA Group started the year on a very strong note, achieving sales growth in each of its five markets and accelerating comparable sales growth both in Iberia and Emerging Markets. The plans to
improve the commercial proposition in our formats are paying off and we will continue to invest sensibly in remodelling our stores. Cash generation is a priority for us in 2016 and the interim data of the first quarter is very promising, with a significant improvement in debt evolution, which in Q1 2016 was more than EUR100m better than the average of the past five years”, stated Ricardo Currás, CEO of DIA Group. 

In the first quarter of the year, underlying net profit amounted to EUR38.7m, 3% less than in the
same period in 2015 due to the increase of the depreciation linked to the acquisitions and the financial expenses in the Emerging countries. Adjusted EBITDA amounted to EUR117m, 5.7% more in local currency.
At the end of March 2016, the total number of stores of the DIA Group reached 7,694