Dadelo (DAD) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached 83,106 thousand PLN, up 52.96% year-over-year, driven by an omnichannel sales strategy and the opening of a third brick-and-mortar store in Gdańsk.

• Net profit for Q1 2025 was 3,374 thousand PLN, a 74% increase compared to Q1 2024.

• EBITDA margin for Q1 2025 was 8.11%, EBIT margin 6.16%, and net margin 4.06%.

• The company is Poland's largest online seller of bicycle parts, operating both online and through physical stores.

Financial highlights

• Operating profit for Q1 2025 was 5,116 thousand PLN, up from 2,961 thousand PLN in Q1 2024.

• Gross profit from sales was 25,383 thousand PLN, up from 16,353 thousand PLN year-over-year.

• Cash flow from operating activities was negative at -43,124 thousand PLN, mainly due to inventory build-up.

• Total assets at March 31, 2025 were 281,322 thousand PLN, with equity at 120,978 thousand PLN.

• Inventory increased 84.11% year-over-year to 215,943 thousand PLN.

Outlook and guidance

• The company plans to open 3-4 new physical stores in 2025, with Poznań scheduled for June.

• No significant post-balance sheet events; ongoing war in Ukraine has an unknown impact.