Dino Polska (DNP) Q3 2025 earnings summary

Executive summary

• Sales revenue for 1Q–3Q 2025 reached PLN 24.74 billion, up 14.9% year-over-year, with Q3 revenue at PLN 8.76 billion, a 15.2% increase over Q3 2024.

• Net profit for the nine-month period was PLN 1.19 billion, up 10.1% year-over-year; Q3 net profit was PLN 482.1 million, up 9.9% from Q3 2024.

• Store network expanded to 2,933 locations as of September 2025, with 245 new stores opened year-to-date and a 14.3% year-over-year increase in selling area.

• Like-for-like (LFL) sales growth was 4.7% for January–September 2025 and 4.4% in Q3 2025.

• Continued focus on organic expansion and sustainability, including significant investments in solar energy.

Financial highlights

• EBITDA for 1Q–3Q 2025 was PLN 1,932.8 million, a 14.6% increase year-over-year, with a stable EBITDA margin year-over-year; Q3 EBITDA was PLN 750 million, up 11.4% year-over-year, with an 8.6% margin.

• Operating profit for the nine months was PLN 1.56 billion, up 12.8% year-over-year; Q3 operating profit was PLN 622.1 million, up 9.6%.

• Basic/diluted EPS for the nine months was PLN 1.21, up from PLN 1.10 (restated for share split).

• Operating cash flow for 1Q–3Q 2025 was PLN 1,739 million; net cash from operating activities in Q3 was PLN 833.4 million, up 14.9% year-over-year.

• Capex for 1Q–3Q 2025 was approximately PLN 1.57 billion, mainly for new stores and warehouse expansion.

Outlook and guidance

• Management expects mid-single-digit LFL sales growth for 2025, with new store openings to increase by about 20% and total capital expenditures around PLN 2.0 billion.

• Strategy emphasizes continued organic store roll-out and maintaining LFL sales growth.

• Profitability focus with stable EBITDA margin and ongoing investments in network and sustainability.

• Further store network expansion is planned for 2026.