Trading Update
DP Poland reports Q1 2024 LFL system sales growth of 17.9% in Poland and 7.5% in Croatia.
- Poland LFL System sales growth YoY 17.9%
- Poland LFL System orders growth YoY 14.8%
- Poland total system sales PLN62.2m (prior PLN53.1m)
- Croatia total system sales EUR0.9m (prior EUR0.5m)
- Poland delivery channel sales PLN41.8m (prior PLN35.4m)
- Poland non-delivery channel sales PLN19.0m (prior PLN16.1m)
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DP Poland, the operator of Domino's pizza stores and restaurants across Poland and Croatia, is pleased to announce a trading update for Q1 2024.
DP Poland's Chief Executive Officer, Nils Gornall, said:
"In the first quarter of 2024 we delivered another strong performance with LFL system sales growth of 17.9% YoY in Poland, driven by a strong order count up 14.8% YoY.
After almost two years since the adoption of a High Volume Mentality across all operations, we have transformed the Polish business into one of the fastest growing Domino's markets globally. Momentum in the business is very strong and we are in an excellent position to drive Company expansion.
We are very pleased with the Domino's Pizza Group investment and results of the recent oversubscribed fundraise and are ready to embark on the journey to deliver 200 stores by the end of 2026 and transition the business towards a franchise led model."
Trading Update Q1 2024
Poland
| PLNm | Q1 2024 | |
|---|---|---|
| PLNm | % YoY change | |
| Total System sales 1 | 62,2 | 17,3% |
| LFL System sales 2 | 60,8 | 17,9% |
| non-delivery | 19,0 | 17,7% |
| delivery | 41,8 | 18,0% |
| M Orders | Q1 2024 | |
| M Orders | % YoY change | |
| Total System orders 1 | 1,1 | 14,4% |
| LFL System orders 2 | 1,1 | 14,8% |
1 System Sales and System orders - total retail sales or orders including sales or orders from corporate and sub-franchised stores.
2 Like-for-like System Sales growth in Polish Złoty, matching trading periods for the same stores or orders growth in units, matching trading periods for the same stores
Trading in Poland remains strong, with consistent double digit sales growth across both delivery and non-delivery channels. This was driven largely by strong order count growth despite two fewer trading days due to an early Easter and the comparable period in 2023 being supported by a TV campaign. These results are underpinned by the constant focus on a compelling value proposition for customers, high-quality pizzas, delivered quickly.
Croatia
| EURm | Q1 2024 | |
|---|---|---|
| EURm | % YoY change | |
| Total System sales 1 | 0,9 | 72,2% |
| LFL System sales 2 | 0,5 | 7,5% |
1 System Sales and System orders - total retail sales or orders including sales or orders from corporate stores.
2 Like-for-like System Sales growth in Euro, matching trading periods for the same stores or orders growth in units, matching trading periods for the same stores
Total System Sales and LFL System Sales in Croatia remain strong, with the two new stores opened in 2023 outperforming our initial expectations.
The encouraging trading performance in Q1 2024 underpins confidence to open additional corporate stores and invite franchisees to partner with us in 2024 and beyond.
The Group expects to announce its final results for the year ended 31 December 2023 in early June, which will include a webinar for investors. The Management expects that full year EBITDA figures for 2023 will be in line with market expectations.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.