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In Q1, DIA Group posted gross sales under banner of EUR2.27bn, up 0.2%

Financial

10 May 2018

In the first quarter of 2018, DIA Group generated gross sales under banner of EUR2.27bn, up 0.2% in local currency compared to the first quarter of 2017. In Spain, like-for-like sales increased by 0.5%. As announced, DIA Group is continuing with its intensive store remodelling programme. In the first three months of the year, the company remodelled a total of 480 stores, of which 457 were in Spain. At this pace, the company is ahead of the announced remodelling plan.

Online sales reached EUR18m in the first quarter of the year in Spain, up by 48% compared to the same period last year.

“We achieved another quarter of positive LFL sales growth in Spain in Q1 2018, being more price-competitive than in the previous year. At the same time, we implemented an ambitious remodelling plan, upgrading 480 stores in Iberia, with very good results. The adjusted EBITDA margin in Spain was lower than in the previous year but recovered clearly following the sharp decline seen in the last quarter of 2017. Emerging Markets continued growing both in sales and adjusted EBITDA despite the negative impact of food deflation in Brazil. We expect a positive recovery trend in sales in Iberia for the coming quarters as we progress with our plans to upgrade stores, open new ones, and improve customer satisfaction, while Emerging Markets will contribute better LFL sales growth and more openings. Sales growth acceleration is our top priority, representing the best way to achieve our goals for 2018”, declared Ricardo Currás, DIA Group CEO.

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