Domino's Pizza Group (DOM) investor relations material

Executive summary

• Market share increased in a contracting UK takeaway and pizza market, with DPG's share up 0.2ppts to 7.2% and UK pizza takeaway share up 560bps to 53.7%.

• Operational resilience and franchisee performance led to best-in-class delivery times, improved customer value, and automation projects progressing.

• The operating environment remains challenging, impacting profits and store openings, with no improvement expected until after the Autumn Statement.

• Strategic focus remains on core business growth, disciplined capital allocation, and potential expansion through acquisition or share buybacks.

• Interim dividend increased by 2.9% to 3.6p per share, reflecting confidence in the long-term strategy.

Financial highlights

• System sales rose 1.3% year-over-year to £777.8m; group revenue up 1.4% to £331.5m.

• Underlying EBITDA declined 7.4% to £63.9m; underlying EPS down 14.3% to 8.4p.

• Statutory profit after tax fell 29.3% to £29.9m; statutory EPS down 29% to 7.6p.

• Free cash flow generation remained strong at £25.7m, despite lower EBITDA.

• Net debt increased to £306.6m, with leverage at 2.32x underlying EBITDA.

Outlook and guidance

• FY25 underlying EBITDA guidance revised to £130m–£140m, below analyst consensus, due to weaker consumer sentiment and higher employment costs.

• Technical guidance: depreciation & amortisation £20m–£23m, interest £17m–£19m, effective tax rate ~25%, capex ~£22m, year-end net debt £260m–£280m.

• Store pipeline for 2026 remains healthy; long-term ambition for 2,000 stores unchanged.

• If no second brand acquisition by year-end, share buybacks are expected to resume.

• Consumer confidence remains weak, with sales growth impacted and employment costs rising.