DISTRIBUIDORA INTERNACIONAL DE ALIMENTACIÓN, S.A. Press release
DIA Group posts gross sales under banner of EUR10.55bn, 10.2% more than in the previous year/ Adjusted EBITDA reached EUR625m, up 8.6% more than in local currency.
/ The Board of Directors will propose a dividend of EUR0.21 per share.
Madrid, 23 February 2017. In 2016, the DIA Group generated gross sales under banner of EUR10.55bn, implying a 10.2% increase compared to the previous year in local currency thanks to the business performance in all the markets in which it operates. In Iberia, gross sales under banner rose by 1.1% to EUR6.815bn, and the emerging-market segment (Argentina, Brazil, and China) posted sales of EUR3.736bn, representing a 26.3% upturn in local currency.
In Spain, gross sales under banner reached EUR5.967bn, up by 0.9%.
"Our priorities for 2016 were clear: top-line growth, cash flow generation and focus on customers; and we have delivered. DIA accelerated LFL sales growth in 2016 to a record 8.7%, the highest annual rate reported since listing, with positive figures in all the DIA countries. Sustained price investment combined with improved customer service is paying off all over the DIA universe. We also made great progress in the development of our business with local partners. More than 3,300 entrepreneurs work with us every day to serve our customers, and their level of satisfaction improved significantly in 2016, something we are especially proud of. We also generated EUR207m Cash from Operations and reduced our net debt by EUR254m. In 2017, we are confident about our growth potential and business performance. We therefore reiterate our commitment to sustainable profitable growth, keeping our 2016-18 goals unchanged", stated Ricardo Currás, CEO of DIA Group.
Pretax profits amounted to EUR243m, 12.8% more than in 2015 in local currency. Net attributable profit fell by 42% to EUR174m due to the absence of extraordinaries.
Adjusted EBITDA reached EUR625m, up 8.6% in local currency. At the end of the year, the DIA Group had a network of 7,799 stores, 81 stores more than a year ago.
The Board of Directors will propose to the general shareholders meeting a gross dividend of EUR0.21 per share, which represents a payout of EUR128m, or 50% of underlying net profit.
FY 2016 Results
2016 | 2015 | effect | (ex-FX) | |||
Net sales | 8,867.6 | 8,925.5 | 100.0% | -0.6% | -9.7% | 9.0% |
Cost of sales & other income | -6,834.7 | -6,927.8 | -77.1% | -1.3% | -10.2% | 8.9% |
Gross profit | 2,032.9 | 1,997.7 | 22.9% | 1.8% | -7.8% | 9.5% |
Labour costs | -769.1 | -770.8 | -8.7% | -0.2% | -7.8% | 7.6% |
Other operating expenses | -331.5 | -326.2 | -3.7% | 1.6% | -13.9% | 15.6% |
Real estate rents | -307.3 | -290.6 | -3.5% | 5.7% | -4.1% | 9.9% |
Adjusted EBITDA (1) | 625.1 | 610.1 | 7.0% | 2.4% | -6.2% | 8.6% |
D&A | -232.4 | -214.0 | -2.6% | 8.6% | -5.3% | 13.9% |
Adjusted EBIT (1) | 392.7 | 396.1 | 4.4% | -0.9% | -6.7% | 5.8% |
Non-Recurring items | -97.7 | -122.0 | -1.1% | -19.9% | -3.9% | -16.1% |
Non-Recurring cash items | -73.0 | -94.2 | -0.8% | -22.6% | ||
Long-Term Incentive Plans | -15.2 | -4.4 | -0.2% | 246.8% | ||
Other Non-Recurring items | -9.5 | -23.3 | -0.1% | -59.3% | ||
EBIT | 295.1 | 274.1 | 3.3% | 7.6% | -7.9% | 15.5% |
Net financial income/expenses | -52.0 | -56.0 | -0.6% | -7.1% | -33.4% | 26.2% |
EBT | 243.1 | 218.1 | 2.7% | 11.5% | -1.4% | 12.8% |
Income taxes | -69.1 | 82.6 | -0.8% | -183.7% | 1.9% | -185.6% |
Consolidated profit | 174.0 | 300.7 | 2.0% | -42.1% | -0.5% | -41.7% |
Minorities & discontinuing operations | 0.0 | -1.5 | 0.0% | |||
Net attributable profit | 174.0 | 299.2 | 2.0% | -41.8% | -0.5% | -41.4% |
Underlying net profit | 258.6 | 254.1 | 2.9% | 1.8% | -2.1% | 3.9% |
(€m) FY FY
% Change FX ChangeAdjusted by non-recurring items
Q4 2016 Results Summary
(ex-FX)
Net sales
2,304.0
100.0%
1.0%
-5.1%
6.1%
Adjusted EBITDA (1)
196.0
8.5%
7.2%
-6.7%
13.9%
D&A
-57.7
-2.5%
2.5%
-1.4%
3.9%
Adjusted EBIT (1)
138.3
6.0%
9.2%
-9.0%
18.3%
Non-Recurring items
-31.5
-1.4%
-24.2%
-2.7%
-21.5%
Non-Recurring cash items
-25.2
-1.1%
-16.0%
Long-Term Incentive Plans
-4.7
-0.2%
-438.3%
Other Non-Recurring items
-1.6
-0.1%
-87.9%
EBIT
106.8
4.6%
25.6%
-12.1%
37.7%
Net attributable profit
66.6
2.9%
-65.9%
-2.3%
-63.6%
Underlying net profit
101.4
4.4%
14.0%
-5.9%
19.9%
(€m) Q4 2016 % Change FX effect Change
Adjusted by non-recurring items
Gross Sales under Banner
(€m) FY 2016 % Change FX effect Change(ex-FX)848.0 | 8.0% | 3.0% | 0.0% | 3.0% |
6,814.6 | 64.6% | 1.1% | 0.0% | 1.1% |
1,642.6 | 15.6% | -14.5% | -51.0% | 36.4% |
1,856.5 | 17.6% | 12.8% | -5.1% | 17.9% |
236.5 | 2.2% | -1.8% | -5.3% | 3.6% |
3,735.6 | 35.4% | -1.9% | -28.3% | 26.3% |
10,550.1 | 100.0% | 0.0% | -10.2% | 10.2% |
Spain 5,966.6 56.6% 0.9% 0.0% 0.9%
Portugal
IBERIA
Argentina
Brazil China
EMERGING MARKETS TOTAL DIA
Stores by country and operational model as of 31 December 2016
(# stores) Spain | COCO 2,728 | Franchise 2,147 | Total DIA 4,875 | Change -66 |
Portugal | 367 | 256 | 623 | 2 |
IBERIA | 3,095 | 2,403 | 5,498 | -64 |
Dia | 1,614 | 2,296 | 3,910 | 63 |
Clarel | 1,126 | 107 | 1,233 | 38 |
El Arbol / La Plaza | 355 | 0 | 355 | -165 |
Argentina | 296 | 576 | 872 | 26 |
Brazil | 379 | 671 | 1,050 | 121 |
China | 60 | 319 | 379 | -2 |
EMERGING MARKETS | 735 | 1,566 | 2,301 | 145 |
TOTAL DIA | 3,830 | 3,969 | 7,799 | 81 |
Autonomous region | Stores | Own | Franchises | INC | Supplier turnover* EURm | Employees | Franchises employees |
DATA BY AUTONOMOUS REGION*
Andalucía | 734 | 314 | 420 | +9 | 324,1 | 4.423 | 1.767 |
Aragón | 292 | 209 | 83 | +2 | 106,2 | 1.870 | 280 |
Asturias | 164 | 134 | 30 | -15 | 96,6 | 1.369 | 68 |
Baleares | 36 | 30 | 6 | +2 | 2,8 | 127 | 27 |
Canarias | 3 | 0 | 3 | 0 | 0,3 | 0 | 7 |
Cantabria | 74 | 40 | 34 | -7 | 18,2 | 359 | 106 |
Castilla La Mancha | 256 | 102 | 154 | +6 | 233,9 | 1,106 | 503 |
Castilla y León | 435 | 267 | 168 | -23 | 265,2 | 2,960 | 649 |
Cataluña | 1.149 | 749 | 400 | -10 | 1.220,2 | 4,116 | 1.302 |
Ceuta | 4 | 0 | 4 | 0 | 0 | 0 | 46 |
Extremadura | 221 | 69 | 152 | -6 | 43,8 | 922 | 539 |
Galicia | 236 | 123 | 113 | -19 | 266,4 | 1.100 | 315 |
La Rioja | 56 | 32 | 24 | 0 | 32,2 | 160 | 55 |
Madrid | 553 | 279 | 274 | +11 | 868,2 | 5.209 | 1.276 |
Melilla | 5 | 0 | 5 | +1 | 0 | 0 | 60 |
Murcia | 88 | 45 | 43 | -3 | 225,9 | 487 | 170 |
Navarra | 122 | 55 | 67 | -3 | 170,9 | 271 | 214 |
País Vasco | 198 | 130 | 68 | +3 | 55,6 | 793 | 198 |
Valencia | 249 | 150 | 99 | -14 | 300 | 1.330 | 269 |
TOTAL DIA SPAIN 4.875 2.728 2.147 -66 4,231 26.602 7.851
* CIF autonomous region criteria.
DIA - Distribuidora Internacional de Alimentación SA published this content on 23 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 February 2017 07:41:06 UTC.
Original documenthttp://www.diacorporate.com/recursos/doc/corporativo/20160408/ingles/2016-results.pdf
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