DIA Group reaches gross sales under banner of EUR8.226BN in the first nine months of 2011
November 15, 2011
Net earnings from January to September reached EUR32.4m, which implies a seven-fold increase versus the same period in 2010.
EBITDA adjusted for extraordinary items rose by 9.7% to EUR377.2m.
DIA Group expects to end fiscal 2011 with a commercial network of close to 6,800 stores, an EBITDA of over EUR540m, and net sales growth of over 3%.
In the first nine months of the year, DIA Group reached gross sales under banner of EUR8.226bn. In local currency, this implies a 4.5% increase versus the same period in 2010. In the last quarter, from July to September, gross sales under banner rose by 4.1%.
The DIA Group’s CEO, Ricardo Currás, declared that: “Our results posted a solid performance in the quarter, which places us in a very good position to achieve our annual financial targets.”.”
At end-September, DIA Group had 6,609 stores, of which 236 were net openings. For year-end, we expect the number of stores in the seven countries in which DIA Group operates to get close to 6,800.
In Spain, despite the slowdown in economic activity, gross sales under banner, which includes franchised stores, managed to grow by 1.3% to EUR3.455bn.
EBITDA adjusted for extraordinary items grew in the first nine months of the year at a rate of 9.7%, to EUR377m, which shows the DIA Group’s ability to generate cash. At the end of the fiscal year, the EBITDA adjusted for extraordinary items is set to exceed EUR540m euros, which is above the company’s initial forecasts. Another important milestone in the first nine months of the year is the DIA Group’s ability to reduce its debt by EUR37m to EUR745m.
DIA Group continues with its plan to transform stores into the new DIA Market and DIA Maxi formats, and has already reached 65% of our own stores.
