Sales revenue in Q1 2026 reached PLN 8,896 million, up 14.8% year-over-year, driven by network expansion and 4.4% like-for-like (LFL) sales growth.
EBITDA rose 6.1% to PLN 564.9 million, with EBITDA margin declining to 6.7% from 7.2% due to pricing policy and higher operating costs.
62 new stores were opened, bringing the total to 3,094 and increasing net sales area by 13% year-over-year.
Fresh food accounted for 42.4% of revenue in Q1 2026; non-food contributed 11.7%.
Continued investments in renewable energy, with 2,918 stores equipped with photovoltaic panels.
Gross profit on sales rose 13.2% to PLN 2,022.8 million, while cost of sales increased 15.3% to PLN 6,416.6 million.
Operating profit grew 1.2% to PLN 419.2 million; net profit increased 1.6% to PLN 316.3 million.
Operating cash flow for Q1 2026 was PLN 1,927 million; net cash from operating activities was PLN 94.7 million.
Capex for Q1 2026 was PLN 429 million.
Total assets increased 19.6% year-over-year to PLN 15,318.6 million.
Strategy focuses on continued organic store roll-out and LFL growth, with new store openings projected to grow by a percentage in the teens and capex around PLN 2.5 billion for 2026.
Key factors for upcoming quarters include grocery price trends, wage growth, and macroeconomic conditions in Poland.
Projected ongoing expansion with further store openings in coming years.
Risks from geopolitical conflicts (Ukraine, Middle East) could impact supply chains and costs, though direct exposure is limited.
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