Dadelo (DAD) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached PLN 159.8m, up 61% year-over-year, driven by both e-commerce and expanding stationary sales channels.

• Net profit for H1 2024 was PLN 10.2m, a significant increase from PLN 1.7m in H1 2023.

• Operating profit rose to PLN 13.3m from PLN 1.9m year-over-year.

• The company continues to focus on omnichannel strategy, with two stationary stores and plans for further expansion.

Financial highlights

• Gross margin for H1 2024 was 31.6%, up from 27.9% in H1 2023.

• EBITDA margin improved to 9.8% from 3.6% year-over-year.

• Net cash from operating activities was PLN 24.1m, up from PLN 18.5m in H1 2023.

• Total assets increased to PLN 189.5m from PLN 142.1m year-over-year.

• No dividend was declared or paid for the period.

Outlook and guidance

• Management plans to open another stationary store in the next year, continuing omnichannel expansion.

• No significant post-balance sheet events affecting the outlook; ongoing geopolitical risks (Ukraine war) have minimal impact.