{"id":16832,"date":"2018-07-26T14:51:00","date_gmt":"2018-07-26T14:51:00","guid":{"rendered":"https:\/\/diacorporate.com\/?p=16832"},"modified":"2021-02-16T15:10:39","modified_gmt":"2021-02-16T15:10:39","slug":"in-h1-dia-group-posted-gross-sales-under-banner-of-eur4-6bn-up-by-1-4","status":"publish","type":"post","link":"http:\/\/diacorporate.tribecamedia.com\/en\/in-h1-dia-group-posted-gross-sales-under-banner-of-eur4-6bn-up-by-1-4\/","title":{"rendered":"In H1, Dia Group posted gross sales under banner of EUR4.6bn, up by 1.4%"},"content":{"rendered":"\t\t
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In H1, Dia Group posted gross sales under banner of EUR4.6bn, up by 1.4%<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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July 26, 2018<\/p><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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The DIA group posted gross sales under banner of EUR4.6bn in the first months of the year, implying a 1.4%\u00a0increase in local currency compared to the same period in the previous year.
Comparable sales in Spain rose by 0.3% and by 1.8% at group level. In the first half of the year, 903 stores\u00a0were remodelled, of which 860 in Spain. The Dia Group keeps the level of remodelling at 1,090 stores for all\u00a0of 2018.<\/p>

In Spain, online sales from January to June reached EUR39m, implying a 48% increase.\u00a0<\/span>\u201cWe have almost completed our ambitious remodelling plan for the year, with more than 900 stores already\u00a0<\/span>upgraded in Iberia with good results. We are starting to observe the impact of these transformations in the\u00a0<\/span>very positive sales trend in July and we expect to sustain this positive pattern in the second half of the year,\u00a0<\/span>when we also plan to open new DIA, La Plaza and Clarel stores.<\/span><\/p>

Argentina experienced big currency depreciation in Q2 2018. In this environment, our business is getting\u00a0stronger by the day, gaining market share and growing operational profit.<\/p>

In Brazil, the good sales performance seen since March continued until the transport strike massively
impacted our operations. DIA\u2019s lean supply chain and geographical concentration was hit hard, with very\u00a0high out of stocks in May and June, leading to a significant negative impact on sales and profitability in the\u00a0quarter. Since July, business has returned to normal.\u00a0The new strategy plan that was announced at the AGM is being completed and will be presented to the\u00a0market in October\u201d, declared Ricardo Curr\u00e1s, Dia Group CEO.<\/p>

Adjusted EBITDA reached EUR225.8m, down by 14.6%, and underlying net profit fell by 44% to EUR66.1m. The company has decided to discontinue its Max Descuento cash & carry activity, which has 35 stores in Spain. As of the end of June 2018, the Dia Group had a network of 7,409 stores.<\/p>

GLOSSARY<\/strong>
\u25cf Gross sales under banner<\/strong>: Total turnover value obtained in stores, including indirect taxes (sales receipt\u00a0value) in all the company\u2019s stores, both owned and franchised.
\u25cf LFL sales growth under banner:<\/strong> Growth rate of gross sales under banner at constant currency of the stores\u00a0that have been operating for more than thirteen months under the same business conditions.
\u25cf Other items excluded from adjusted EBIT:<\/strong> Volume of costs and revenues the company isolates in the\u00a0management accounts to gain a better understanding of the underlying performance of the core business\u00a0during the period. Items usually excluded from adjusted EBIT are classified between \u201cOther cash items\u201d\u00a0(Expenses relating to acquisitions, expenses for restructuring and efficiency projects, expenses relate to the\u00a0transfer of own stores to franchises, and gains on disposal of assets), \u201cExpenses related to share-based\u00a0payments transactions\u201d and \u201cOther non-cash items\u201d (Losses on write-down of fixed assets, impairment of\u00a0fixed assets and amortization related to the closing of stores).
\u25cf Adjusted EBITDA:<\/strong> Operating profit after adding back depreciation and amortization (including amortization\u00a0related to the closing of stores and impairment of fixed assets), losses on write down of fixed assets, \u201cOther\u00a0cash items\u201d and \u201cExpenses related to share-based payments transactions\u201d.
\u25cf Adjusted EBIT:<\/strong> Operating profit after adding back \u201cOther cash items\u201d, \u201cExpenses related to share-based\u00a0payments transactions\u201d and \u201cOther non-cash items\u201d.
\u25cf Underlying net profit:<\/strong> Net income calculated on net profit attributable to the parent company, adjusted by\u00a0\u201cOther items excluded from adjusted EBIT\u201d, \u201cItems excluded from financial income and expenses\u201d, \u201cItems\u00a0excluded from income tax\u201d and \u201cLosses net of taxes of discontinued operations\u201d.
\u25cf Basic EPS<\/strong>: Fraction of the company\u2019s profit calculated as net attributable profit divided by the weighted\u00a0average number of shares.
\u25cf Underlying EPS<\/strong>: Fraction of the company\u2019s profit calculated as underlying net profit divided by the weighted\u00a0average number of shares.<\/p>

\u25cf Net financial debt:<\/strong> Overall financial situation of the company that results by subtracting the total value of\u00a0company’s short-term, long-term financial debt, other financial liabilities from the total value of its cash,\u00a0cash equivalents, and other liquid assets. All the information necessary to calculate the company’s net debtis included in the balance sheet.<\/p>

\u25cf Cash from operations:<\/strong> Adjusted EBITDA less \u201cOther cash items\u201d, less Capex excluding acquisitions. This\u00a0internally calculated cash flow measure is included as one of the key financial metrics of the long-term\u00a0incentive plan for the company\u2019s top management.<\/p>

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