Domino's Pizza Group (DOM) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 saw total system sales up 2.1% and like-for-like sales up 0.5% year-over-year, with total orders also increasing 0.5%.

• Delivery orders grew 1.3% while collection orders declined 0.9%, though collection trends improved after a national campaign.

• Operational improvements included average delivery times dropping to 24.3 minutes from 25.1 minutes in Q1 2024.

• Strategic initiatives such as a loyalty trial and new product launches contributed to incremental order growth.

Financial highlights

• Q1 2025 total system sales reached £393.3m, up from £385.2m in Q1 2024.

• Like-for-like system sales (excluding splits) increased 0.5% year-over-year.

• Underlying EBITDA for FY25 is expected to be in line with market expectations, with a mean forecast of £147.4m.

Outlook and guidance

• FY25 Underlying EBITDA is expected to meet market expectations, with no change to full-year guidance.

• Over 50 new store openings are anticipated in FY25, with most openings weighted to the second half.

• Initial assessment of new tariffs indicates minimal direct impact, with ongoing monitoring of indirect supply chain effects.