Distribuidora Internacional de Alimentación (DIA) Q1 2025 TU earnings summary

Executive summary

• Net sales reached €1,401 million in Q1 2025, up 3.0% year-over-year, driven by strong growth in Spain and partially offset by declines in Argentina.

• Spain delivered 7.2% net sales growth and 7.3% like-for-like sales growth, gaining 0.1pp market share.

• Argentina saw a -18.8% decline in like-for-like sales, but net sales in euros fell only -8.3% due to favorable exchange rates.

• Discontinued operations (Clarel, Portugal, Brazil) accounted for a €361 million reduction in net sales.

Financial highlights

• Group net sales (post-IAS29) increased 3.0% year-over-year; excluding hyperinflation effects, growth was 6.5%.

• Spain's net sales reached €1,060 million, up 7.2% year-over-year.

• Online sales in Spain grew 25.3% and now represent 5.2% of total sales.

• Fresh product sales in Spain rose 15% year-over-year.

• Private label products made up 59.3% of the basket in Spain, up 1.8pp.

Outlook and guidance

• Confident in achieving 2025-29 Strategic Plan targets of 4-6% sales CAGR.

• Expectation of continued recovery in Argentina in the second half of the year.