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Dino Polska (DNP) investor relations material
Dino Polska Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M revenue rose 11.9% to PLN 27,679m; EBITDA increased 4.3%, while EBITDA margin fell to 7.3% from 7.8%.
Store network added 256 locations in 9M, including 108 in Q3, reaching 3,283 stores at September-end; LFL sales growth was 1.4% in 9M and 0.1% in Q3.
Food-price deflation and a volume-focused pricing policy weighed on sales growth and margins; priorities include growing volumes and reversing the EBITDA-margin decline.
Financial highlights
Q3 revenue was PLN 9.71bn, up 10.8% YoY; gross profit rose 14.7% to PLN 2.38bn, while operating profit dipped 0.3% to PLN 620.2m.
Q3 EBITDA increased 4.7% to PLN 785.5m; 9M EBITDA was PLN 2,015.5m, up 4.3%.
Q3 net profit was PLN 483.2m, up 0.2%; 9M net profit rose 0.7% to PLN 1,199.4m, while operating profit fell 0.9% to PLN 1.55bn.
Outlook and guidance
Targeting ~400 store openings in 2026, with next year’s planned additions at a similar level; FY capital expenditure is expected to be ~PLN 2.5bn.
Q4 priorities include holiday promotions, sales-volume growth and improved purchasing conditions; deflation and promotions make margin improvement uncertain.
Deflation was lower in October than September but remained near the Q3 average; management expects further improvement at a slower pace than in Q3.
- Revenue up 12.5%, net profit up 1.0%, but LFL growth and margins remain under pressure.DNP
Q2 2026 - Revenue up 14.8%, EBITDA up 6.1%, and net profit up 1.6% in Q1 2026 with strong expansion.DNP
Q1 2026 - 2025 saw 14.9% sales growth, 345 new stores, and strong cash flow with improved leverage.DNP
Q4 2025 - Double-digit sales and profit growth in Q3 2025, driven by store expansion and strong LFL sales.DNP
Q3 2025 - Revenue up 14.8% and net profit up 10.2% in H1 2025, with strong store expansion.DNP
Q2 2025 - Revenue up 13.5% and net profit up 2.4% as store network and online sales expand.DNP
Q3 2024 - Sales up 15.1% with 98 new stores, but margins compressed amid rising costs.DNP
Q2 2024 - 10.2% revenue growth and 58 new stores in 1Q 2025, with slower LFL sales.DNP
Q1 2025 - Revenue up 14.1%, net profit up 7.2%, and store count reached 2,688 in 2024.DNP
Q4 2024
Next Dino Polska earnings date
Next Dino Polska earnings date
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Frequently asked questions
Polish Supermarkets
Dino Polska is a Polish supermarket chain established in 1999, and its stock trades on the Warsaw Stock Exchange. The company’s stores are generally located in smaller towns and rural areas, oftentimes acting as the largest and most obvious choice for consumers looking for a well-stocked supermarket with generous opening hours. The company started out in the western part of the country but has since expanded to the rest of Poland.
Founding and Outside Investment
The company was founded in 1999 by entrepreneur Tomasz Biernacki, and slowly but surely grew in the following years. The company had a laser focus on the western part of Poland in the early years, but after investment fund Enterprise Investors bought 49% of the shares in the company, expansion kicked into overdrive. After the purchase of the shares in 2010, Dino increased its amount of stores from around 100 to well over 600 while also opening locations in all corners of the country.
Stores and Distribution
As previously mentioned, Dino’s stores are primarily located in less built-up areas and along major roadways, even if some major cities have small branches in downtown areas. A subsidiary of the parent company primarily supplies the stores. Dino operates distribution centers in three different locations in the country, supplying stores with products. Dino has become one of the leading grocery stores in Poland and is competing nationally against large chains like Netto and Lidl. Several of Europe's largest supermarket chains are not publicly traded, but Dino is not entirely unique in being public. A list of publicly traded supermarkets in Europe includes names like Tesco, Carrefour, and Ahold Delhaize.
Unique Selling Points
One of the things that makes Dino stand out against its competitors, outside of their locations, is that nearly all of their stores nationwide are open for business during the same hours. Apart from some smaller convenience stores in city centers, Dino stores across Poland are open from 06:00-22:30 every day. Even if there’s nothing odd about having long opening hours, having this uniform across the country is something that has helped establish the brand's identity. Dino’s stores also have meat counters, where customers can purchase specialty meats and cuts from knowledgeable staff.
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