DIA Group posted gross sales under banner of EUR5.127bn in the first half of the year, up 4.1% versus a year ago

In the first half of 2017, DIA Group posted gross sales under banner of EUR5.127bn, implying an increase of 4.1% in euros versus the same period in the previous year, and a 1.9% rise in local currency. Argentina and Brazil contributed with 12.1% growth in gross sales in local currency, reaching EUR1.885bn.

Between January and June, comparable sales rose by 4.3%, with Iberia contributing 0.9% and Argentina and Brazil contributing 10.4%.

In Spain, gross sales under banner fell by 3.6% to EUR2.83bn. During the second quarter of the year, the improvement process of the DIA Market, DIA Maxi and La Plaza de Dia stores was accelerated, with 221 reconversions to offer a wider range of products and services to clients.

“The second quarter of 2017 confirms the solid operating performance of our group in Iberia and South America, with positive same-store sales growth in all our geographies. It has been a busy quarter in Spain, with a peak in June of over 120 upgrades of DIA Market, DIA Maxi and La Plaza stores, with encouraging results. The third quarter is expected to be busy as well to achieve the target of over 500 upgrades by the end of 2017. Brazil improved LFL volumes in the second quarter, with lower inflation, impacted by the ongoing challenging market conditions, while in Argentina DIA continued to achieve a remarkable and strong top-line growth rate. With this set of results, we are on track to meet all our 2017 targets”, declared Ricardo Currás, CEO of DIA Group.

Adjusted EBITDA reached EUR278,3m, up 3.3% in euros and 1.7% in local currency. In the emerging markets in which DIA operates, adjusted EBITDA improved by close to 37% in euros.

In June 2017, reduced its net debt by EUR104m to EUR1.02bn compared to June 2016.

Underlying net profit increased by 4.3% in euros, and 3.2%, reaching EUR106m. At the end of June, the company had 7,415 stores.