Dadelo (DAD) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached 243,006k PLN, up 52.1% year-over-year, driven by omnichannel sales and expansion of stationary stores in major cities.

• Net profit for H1 2025 was 16,972k PLN, a 66% increase compared to H1 2024.

• EBITDA margin improved to 11.04% and net margin to 6.98% in H1 2025.

• Inventory levels rose 88.7% year-over-year to support higher sales and new store openings.

Financial highlights

• Operating profit for H1 2025 was 23,236k PLN, up from 13,344k PLN in H1 2024.

• Gross margin for H1 2025 was 31.99%, slightly higher than 31.63% in H1 2024.

• Cash flow from operations was -20,424k PLN, mainly due to inventory build-up.

• Cash and equivalents at period end were 2,288k PLN, with new credit lines and bond program secured post-period.

• No dividend declared or paid for the period.

Outlook and guidance

• Further expansion of stationary stores planned for 2025, with new financing secured for growth.

• Management expects continued sales growth supported by omnichannel strategy and increased inventory.