Spinneys 1961 Holding (SPINNEYS) investor relations material

Executive summary

• Revenue for 9M 2025 reached AED 2.6b, up 12.8% year-over-year, with like-for-like sales growth of 10.3% and increased transactions.

• Net profit attributable to equity holders was AED 217.6m, up from AED 192.2m, and profit after tax increased 16.4%.

• Ecommerce sales grew 34.7% year-over-year, now representing 16.6% of total sales.

• The group operates supermarkets in the UAE, Oman, and Saudi Arabia, and was listed on the Dubai Financial Market in May 2024.

Financial highlights

• Gross profit for 9M 2025 was AED 1.08b, up 13.9% year-over-year, with gross margin at 41.6%.

• Adjusted EBITDA rose 19.5% to AED 503m, with margin at 19.4%, and profit before tax reached AED 253m, up 24.4%.

• Free cash flow conversion was 80.9%, with AED 486m in free cash flow.

• Cash and cash equivalents at period end were AED 118.9m, with total assets of AED 2,226.9m and total equity of AED 284.0m.

• Interim and final dividends totaling AED 220.3m were paid during the period.

Outlook and guidance

• FY2025 guidance targets 10-12 store openings, 9-11% revenue growth, 4-6% like-for-like revenue growth, and 19-20% adjusted EBITDA margin.

• Capex as a percentage of revenue expected at 3.5-4.5%.

• Management and the Board are confident in the group’s ability to continue as a going concern, with no material uncertainties identified.

• Continued expansion in UAE and KSA, with new stores and ecommerce launches planned.

• The business is subject to moderate seasonal fluctuations, notably during Ramadan, summer, and festive seasons.