Dia Group
Grupo Dia at a glance
Value fundamentals
The following ten reasons outline the key factors that underpin the soundness of Dia Group’s unique value proposition and its growth potential.
- A pure player in the attractive proximity segment
- Fourth-largest national operator, with a c. 5% market share and more than €5,500M turnover in the last fiscal year
- Capillarised network of over 2,350 stores offering a complete and balanced assortment of high-quality products at affordable prices
- Stores with an average surface area of 450 m² located within a 10-minute walk of our customers
- Outstanding e-commerce platform covering 84% of the population, offering top-tier standards of speed, convenience and satisfaction
- A quick and easy shopping experience that saves time and effort
- A product assortment covering all household needs, offering customers the freedom to choose between Dia private label products and those of others leading brands
- High-quality Dia products at affordable prices, allowing our customers to save without compromising quality
- A wide range of high quality, locally-sourced fresh products
- A leading loyalty program that integrates our physical and online stores offering personalised promotions to 6 million members in Spain
- Strong customer focus, reflected in satisfaction levels above the industry benchmark
- Spain’s food retail sector consistently outperforms GDP during economic downturns
- Its growth exceeds the European average, driven by population growth and tourism
- The structure of the Spanish market is unique and stable, with a significant weight of traditional channels and a unique leader in modern channels
- Like-for-like (LFL) sales growth for Dia Spain has regularly outperformed the market (2023–2025), favoured by a renewed and unique proximity value proposition
- Adjusted EBITDA margin (pre IFRS-16) on net sales of 6.8% (FY 2025), above the industry average in Spain
- High cash flow conversion: free cash flow accounted for c. 45% of adjusted EBITDA
- Our 2025–2029 Strategic Plan forecasts annual gross sales growth of between 4% and 6% in Spain. This is significantly higher than the sector average and will enable us to increase our market share
- Aim to open 300 new proximity stores using a highly scalable franchise model
- Forecast to achieve an adjusted EBITDA margin (pre IFRS-16) on net sales of between 7.5% and 8.0% by 2029 (70-120 basis points higher than in 2025), positioning us as the sector leader in profitability
- Profitability target supported by sales growth (operating leverage), our unique franchise model, the renovation of six logistics platforms, and energy efficiency
- Estimated average annual capex of €150–180 million. This will be financed by the operating cash flow, maintaining a low financial leverage
- Strong operating cash flow: Dia Spain’s operating cash flow was €301 million in 2025, reflecting the strength of the business
- Low financial leverage: Net debt / adjusted EBITDA ratio of 0.8x (December 2025)
- No significant debt maturities until 2029
- Ample liquidity (December 2025), comprising €295M in cash and €127M in available credit lines in Spain
- Dia Spain and Dia Argentina operate as separate businesses with distinct legal and financial structures.
- Dia Argentina is the leading proximity chain in the Buenos Aires region, with a nearly 30% market share and over 1,000 proximity stores.
- The most recognized brand in the territory for its high-quality fresh and private-label products, with the highest NPS in the sector: 75 points.
- The top-of-mind brand in the territory thanks to its high-quality fresh and private-label products. It has the highest NPS in the sector at 75 points.
- A self-financed business with a net cash position of €61 million (December 2025) and over €70 million in local credit lines.
- In a complex economic environment, Dia Argentina has demonstrated strong resilience and is well-positioned to grow profitably as consumption is expected to recover.
- A highly professional and renewed Board of Directors, with extensive experience and knowledge of the industry, and the necessary skills to promote value creation
- 70% of the Board members are independent
- All committees are chaired by independent directors and composed exclusively of external, non-proprietary directors
- One third of the board’s remuneration is in the form of shares, which must be held for at least one year, thereby aligning the board with shareholders and stakeholders
- For Dia, sustainability is a key lever for generating a positive impact in the neighborhoods and communities where it operates. By your side, bringing life to everyday life in every community.
- Our roadmap is built upon four differential levers (Bond, Neighborhood, Healthy Living, and Values), which translate into five strategic pillars:
- Proximity with impact
- Accessible well-being
- Dia People
- Care for the environment
- Responsible management and sustainable positioning
- The executive committee that successfully led the Group’s profound transformation in 2020–2024 is now driving the new phase of accelerated growth under the 2025–2029 Strategic Plan, ‘Growing Every Day’
- A clear commitment to execution and alignment, with a long-term incentive plan 2025–2029 linked to EBITDA and Net debt/EBITDA. This plan is 100% share-based, with a minimum holding period of two years
- A pure player in the attractive proximity segment
- Fourth-largest national operator, with a c. 5% market share and more than €5,500M turnover in the last fiscal year
- Capillarised network of over 2,350 stores offering a complete and balanced assortment of high-quality products at affordable prices
- Stores with an average surface area of 450 m² located within a 10-minute walk of our customers
- Outstanding e-commerce platform covering 84% of the population, offering top-tier standards of speed, convenience and satisfaction
- A quick and easy shopping experience that saves time and effort
- A product assortment covering all household needs, offering customers the freedom to choose between Dia private label products and those of others leading brands
- High-quality Dia products at affordable prices, allowing our customers to save without compromising quality
- A wide range of high quality, locally-sourced fresh products
- A leading loyalty program that integrates our physical and online stores offering personalised promotions to 6 million members in Spain
- Strong customer focus, reflected in satisfaction levels above the industry benchmark
- Spain’s food retail sector consistently outperforms GDP during economic downturns
- Its growth exceeds the European average, driven by population growth and tourism
- The structure of the Spanish market is unique and stable, with a significant weight of traditional channels and a unique leader in modern channels
- Like-for-like (LFL) sales growth for Dia Spain has regularly outperformed the market (2023–2025), favoured by a renewed and unique proximity value proposition
- Adjusted EBITDA margin (pre IFRS-16) on net sales of 6.8% (FY 2025), above the industry average in Spain
- High cash flow conversion: free cash flow accounted for c. 45% of adjusted EBITDA
- Our 2025–2029 Strategic Plan forecasts annual gross sales growth of between 4% and 6% in Spain. This is significantly higher than the sector average and will enable us to increase our market share
- Aim to open 300 new proximity stores using a highly scalable franchise model
- Forecast to achieve an adjusted EBITDA margin (pre IFRS-16) on net sales of between 7.5% and 8.0% by 2029 (70-120 basis points higher than in 2025), positioning us as the sector leader in profitability
- Profitability target supported by sales growth (operating leverage), our unique franchise model, the renovation of six logistics platforms, and energy efficiency
- Estimated average annual capex of €150–180 million. This will be financed by the operating cash flow, maintaining a low financial leverage
- Strong operating cash flow: Dia Spain’s operating cash flow was €301 million in 2025, reflecting the strength of the business
- Low financial leverage: Net debt / adjusted EBITDA ratio of 0.8x (December 2025)
- No significant debt maturities until 2029
- Ample liquidity (December 2025), comprising €295M in cash and €127M in available credit lines in Spain
- Dia Spain and Dia Argentina operate as separate businesses with distinct legal and financial structures.
- Dia Argentina is the leading proximity chain in the Buenos Aires region, with a nearly 30% market share and over 1,000 proximity stores.
- The most recognized brand in the territory for its high-quality fresh and private-label products, with the highest NPS in the sector: 75 points.
- The top-of-mind brand in the territory thanks to its high-quality fresh and private-label products. It has the highest NPS in the sector at 75 points.
- A self-financed business with a net cash position of €61 million (December 2025) and over €70 million in local credit lines.
- In a complex economic environment, Dia Argentina has demonstrated strong resilience and is well-positioned to grow profitably as consumption is expected to recover.
- A highly professional and renewed Board of Directors, with extensive experience and knowledge of the industry, and the necessary skills to promote value creation
- 70% of the Board members are independent
- All committees are chaired by independent directors and composed exclusively of external, non-proprietary directors
- One third of the board’s remuneration is in the form of shares, which must be held for at least one year, thereby aligning the board with shareholders and stakeholders
- For Dia, sustainability is a key lever for generating a positive impact in the neighborhoods and communities where it operates. By your side, bringing life to everyday life in every community.
- Our roadmap is built upon four differential levers (Bond, Neighborhood, Healthy Living, and Values), which translate into five strategic pillars:
- Proximity with impact
- Accessible well-being
- Dia People
- Care for the environment
- Responsible management and sustainable positioning
- The executive committee that successfully led the Group’s profound transformation in 2020–2024 is now driving the new phase of accelerated growth under the 2025–2029 Strategic Plan, ‘Growing Every Day’
- A clear commitment to execution and alignment, with a long-term incentive plan 2025–2029 linked to EBITDA and Net debt/EBITDA. This plan is 100% share-based, with a minimum holding period of two years
Investors presentation
We provide our shareholders, analysts and investors with our Presentation for Investors, in PDF format. This document summarises the company’s key strategic and financial information, offering a concise overview of our business model, positioning and recent performance.
The presentation is updated periodically and is designed to facilitate the analysis and understanding of our value proposition by the market. For further information, please do not hesitate to contact the Investor Relations department.
Strategic plan 2025-2029
The 2025–2029 Strategic Plan, ‘Growing Every Day,’ was presented to the market at Capital Markets Day on 20 March 2025. It is a, five-year roadmap to develop the proximity model and capitalise on consumer trends, accelerating our organic growth and positioning us as industry leaders in profitability.
The strategy is based on four pillars, whose combination will drive the business, generate long-term value for all our stakeholders, and take Dia to the next level. These pillars are: Captivate the customer; Lead the market in profitable growth; Strengthen a winning foundation; and Showcase Dia’s value.
Strategic Pillars and Targets
1. Captivate the customer
2. Lead the market in profitable growth
3. Strengthen a winning foundation
4. Showcase Dia's value
1. Captivate the customer
To continue improving our customer-focused value proposition to drive loyalty and purchase frequency.
KEY TARGETS:
- Achieve annual like-for-like (LFL) gross sales growth above the market average
- Increase the number of loyal customers through Club Dia by over 1 million in the 2025-2029 period
- Achieve an online sales weight of 5%–6% of total gross sales by 2029
- Exceed the industry average in customer satisfaction levels (NPS)
2. Lead the market in profitable growth
Accelerate store expansion by leveraging our highly scalable franchise model and position ourselves as the sector leader in profitability.
KEY TARGETS:
- Achieve gross sales growth of 4% to 6% annually.
- Open 300 new stores in the 2025-2029 period.
- Renovate 6 logistics platforms in the same period.
- Achieve an Adjusted EBITDA / Net Sales margin of 7.5% to 8.0% by 2029 (between +1.3 and 1.8 p.p.).
3. Strengthen a winning foundation
Consolidate our corporate culture, our team, and our commitment to sustainability.
KEY TARGETS:
- Maintain our employee satisfaction (NPS) above our industry average.
- Maintain an excellent franchisee satisfaction (NPS) above 65 points.
- Achieve a 64% decarbonization level in our store network and logistics centers by 2029 (target of 100% by 2032).
4. Showcase Dia's value
Intensify our proactive communication with the market to increase the company’s recognition and expand our institutional investor base.
KEY TARGETS:
- Increase analyst coverage from 4 to 12 in the 2025-2029 period to enhance our share’s visibility
- Expand our institutional investor base by 200
- Move towards an investment-grade credit rating
Investors Relations policy
At Dia Group, we view our relationship with shareholders and investors as a strategic pillar of our corporate governance, key to building trust, reputation, and long-term value.
Our investor relations policy is based on best practices and current regulations. It facilitates access to relevant investor information in a simple, permanent, timely, complete, truthful, and symmetrical manner, ensuring equal footing for institutional and retail investors.
Our Investor Relations Team
Our Investor Relations team manages corporate communication with all capital market agents (institutional and retail investors, in both equity and debt instruments, research firms, rating agencies, and proxy advisors), ensuring the accuracy, integrity, continuity, consistency, and symmetry of information. The team facilitates access and understanding, in compliance with all applicable internal and external regulations, to enhance the market’s knowledge and proper valuation of the group.
Our commitments
________
Facilitate uniform, fast and easy access to all relevant company information
________
Communicate this information proactively, clearly, accurately, continuously and consistently.
________
Maintain an open dialogue with various market players and convey their opinions to the Group’s management.
________
Protect the confidentiality of information received from our stakeholders.
________
Periodically assess the satisfaction levels of shareholders and investors with the Investor Relations service to ensure best practice.
Investor Relations contact
Contact our Investor Relations department by phone or email
Address: Jacinto Benavente 2-A, 28232 Las Rozas, Madrid
Office Hours: Monday to Friday, 8:00 AM to 2:30 PM (CET)
Investor Relations Team
Alberto Valdés – Director
Natalia Chavarría – Analyst
Investor agenda
DECEMBER
10WEN
CIC SMALL & MID CAP FORUM PARIS
NOVEMBER
19WEN
SMALL & MID CAPS CONFERENCE OF ALANTRA
FEBRUARY
4WEN
SANTANDER IBERIAN CONFERENCE IN MADRID
MARch
4wed
ROADSHOW IN LONDON
MARch
10TUE
ROADSHOW IN MADRID – GVC GAESCO
MARch
29sun
ROADSHOW IN MADRID – ALANTRA
MARch
30MON
ROADSHOW IN LONDON – JB CAPITAL
APRIL
8WED
INVESTOR PRESENTATION FOR RENTA 4 – BME
APRIL
9THU
ALANTRA CORPORATE ACCESS EVENT IN PARIS
MAY
12TUE
ROADSHOW IN STOCKHOLM – CAIXABANK
MAY
21THU
BERNSTEIN CONFERENCE IN NICE
MAY
26TUE
BME MEDCAP FORUM IN MADRID
SEPTEMBER
17THU
CAIXABANK IBERIAN CONFERENCE IN MADRID
NOVEMBER
13THU
ROADSHOW IN WARSAW
NOVEMBER
12WEN
ROADSHOW IN FRANKFURT
NOVEMBER
6TUE
ROADSHOW IN COPENHAGUE
NOVEMBER
5WEN
ROADSHOW IN STOCKHOLM
OCTOBER
26MON
Q3 26 SALES UPDATE (tentative date)
JULY
30THU
H1 2026 RESULTS (tentative date)
APRIL
23THU
Q1 26 Sales Update
FEBRUARY
26THU
2025 Annual Results
JANUARY
29THU
Q4 25 Sales Update
OCTOBER
30FRI
Q3 25 Sales Update
JULY
31FRI
H1 2025 Results
JUNE
20SAT
Annual General Meeting
APRIL
25SAT
Q1 25 Sales Update
FEBRUARY
28FRI
2024 Annual Results
JANUARY
24FRI
Q4 24 Sales Update
OCTOBER
15WEN
ROADSHOW IN LISBON
OCTOBER
14TUE
ROADSHOW IN MILAN
DECEMBER
?
ZURICH ROADSHOW
DECEMBER
?
GENEVA ROADSHOW
OCTOBER
8WEN
Santander Global Consumer & Retail Conference IN New York
OCTOBER
7TUE
ROADSHOW IN NEW YORK
OCTOBER
2THU
ROADSHOW IN PARIS
OCTOBER
1WEN
CF&B Small & Mid Caps Conference IN Paris
SEPTEMBER
30TUE
Oddo Iberian Forum
SEPTEMBER
17WEN
Caixabank Iberian Conference
SEPTEMBER
11THU
ROADSHOW IN LONDON
SEPTEMBER
10WEN
ROADSHOW IN BARCELONA
JUNE
25WEN
ROADSHOW IN LONDON
JUNE
24TUE
CF&B Small & Mid Caps Conferenece IN LONDON
MAY
27TUE
Medcap FORUM BY BME
APRIL
8TUE
BME Meeting: Investors, Analysts, and Spanish Listed Companies
APRIL
3THU
VIRTUAL ROADSHOW
APRIL
2WEN
VIRTUAL ROADSHOW
MARCH
26WEN
MADRID ROADSHOW
MARCH
25TUE
MADRID ROADSHOW
MARCH
20THU
Capital Markets Day
JANUARY
29WEN
SANTANDER IBERIAN CONFERENCE IN MADRID
Latest News
Dia Group
Dia Group
Dia Group
Disclaimer: The information published on this page may include forward-looking statements based on Dia’s current expectations and assumptions. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Dia assumes no obligation to update any forward-looking statements in light of new information or future events.
Investors are encouraged to consider these risks and review the information submitted by Dia to the CNMV. The content of this page does not constitute an offer to sell, nor a proposal or recommendation to buy securities, nor shall it be distributed in jurisdictions where doing so would contravene applicable law. Each investor must make their decisions regarding this share independently, based on their own judgment.
In the event of any discrepancy between the English and Spanish versions, the Spanish version shall prevail.
