Announcement • May 28
Dino Polska S.A., Annual General Meeting, Jun 22, 2026 Dino Polska S.A., Annual General Meeting, Jun 22, 2026, at 10:00 Central European Standard Time. New Risk • May 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • May 04
Price target decreased by 7.4% to zł41.25 Down from zł44.55, the current price target is an average from 15 analysts. New target price is 29% above last closing price of zł32.06. Stock is down 40% over the past year. The company is forecast to post earnings per share of zł1.76 for next year compared to zł1.59 last year. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from zł2.11 to zł1.85 per share. Revenue forecast steady at zł39.2b. Net income forecast to grow 20% next year vs 21% growth forecast for Consumer Retailing industry in Poland. Consensus price target down from zł47.05 to zł44.55. Share price was steady at zł33.60 over the past week. Reported Earnings • Mar 29
Full year 2025 earnings released: EPS: zł1.59 (vs zł1.54 in FY 2024) Full year 2025 results: EPS: zł1.59 (up from zł1.54 in FY 2024). Revenue: zł33.6b (up 15% from FY 2024). Net income: zł1.56b (up 3.5% from FY 2024). Profit margin: 4.6% (down from 5.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to zł32.77, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Consumer Retailing industry in Europe. Total loss to shareholders of 16% over the past three years. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: zł0.49 (vs zł0.45 in 3Q 2024) Third quarter 2025 results: EPS: zł0.49 (up from zł0.45 in 3Q 2024). Revenue: zł8.76b (up 15% from 3Q 2024). Net income: zł481.9m (up 10.0% from 3Q 2024). Profit margin: 5.5% (down from 5.8% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Aug 24
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: zł4.05 (up from zł0.35 in 2Q 2024). Revenue: zł8.62b (up 19% from 2Q 2024). Net income: zł397.5m (up 14% from 2Q 2024). Profit margin: 4.6% (down from 4.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 22
Price target increased by 8.3% to zł498 Up from zł460, the current price target is an average from 14 analysts. New target price is 5.5% below last closing price of zł527. Stock is up 29% over the past year. The company is forecast to post earnings per share of zł18.44 for next year compared to zł15.35 last year. Announcement • May 21
Dino Polska S.A., Annual General Meeting, Jun 16, 2025 Dino Polska S.A., Annual General Meeting, Jun 16, 2025. Reported Earnings • May 17
First quarter 2025 earnings released: EPS: zł3.17 (vs zł3.01 in 1Q 2024) First quarter 2025 results: EPS: zł3.17 (up from zł3.01 in 1Q 2024). Revenue: zł7.35b (up 10% from 1Q 2024). Net income: zł311.2m (up 5.4% from 1Q 2024). Profit margin: 4.2% (down from 4.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 20% per year. Reported Earnings • Apr 17
Full year 2024 earnings released: EPS: zł15.35 (vs zł14.33 in FY 2023) Full year 2024 results: EPS: zł15.35 (up from zł14.33 in FY 2023). Revenue: zł29.3b (up 14% from FY 2023). Net income: zł1.50b (up 7.1% from FY 2023). Profit margin: 5.1% (down from 5.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 02
Price target increased by 8.0% to zł457 Up from zł423, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of zł462. Stock is up 25% over the past year. The company is forecast to post earnings per share of zł18.90 for next year compared to zł15.37 last year. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: zł15.37 (vs zł14.33 in FY 2023) Full year 2024 results: EPS: zł15.37 (up from zł14.33 in FY 2023). Revenue: zł29.3b (up 14% from FY 2023). Net income: zł1.51b (up 7.2% from FY 2023). Profit margin: 5.1% (down from 5.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 22% per year. Announcement • Jan 20
Dino Polska S.A. to Report Fiscal Year 2024 Results on Feb 27, 2025 Dino Polska S.A. announced that they will report fiscal year 2024 results After-Market on Feb 27, 2025 Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł400, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 12x in the Consumer Retailing industry in Europe. Total returns to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł379 per share. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: zł4.47 (vs zł4.33 in 3Q 2023) Third quarter 2024 results: EPS: zł4.47 (up from zł4.33 in 3Q 2023). Revenue: zł7.61b (up 11% from 3Q 2023). Net income: zł438.2m (up 3.3% from 3Q 2023). Profit margin: 5.8% (down from 6.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 25
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: zł3,550. Revenue: zł7.24b (up 11% from 2Q 2023). Net income: zł347.9m (down 4.0% from 2Q 2023). Profit margin: 4.8% (down from 5.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. Announcement • May 31
Dino Polska S.A., Annual General Meeting, Jun 26, 2024 Dino Polska S.A., Annual General Meeting, Jun 26, 2024. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: zł3.01 (vs zł2.76 in 1Q 2023) First quarter 2024 results: EPS: zł3.01 (up from zł2.76 in 1Q 2023). Revenue: zł6.67b (up 20% from 1Q 2023). Net income: zł295.2m (up 9.1% from 1Q 2023). Profit margin: 4.4% (down from 4.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 22
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: zł14.33 (up from zł11.55 in FY 2022). Revenue: zł25.7b (up 30% from FY 2022). Net income: zł1.41b (up 24% from FY 2022). Profit margin: 5.5% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 27
Now 21% undervalued Over the last 90 days, the stock has risen 6.3% to zł472. The fair value is estimated to be zł594, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 29%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Reported Earnings • Nov 05
Third quarter 2023 earnings released: EPS: zł4.33 (vs zł3.46 in 3Q 2022) Third quarter 2023 results: EPS: zł4.33 (up from zł3.46 in 3Q 2022). Revenue: zł6.88b (up 28% from 3Q 2022). Net income: zł424.0m (up 25% from 3Q 2022). Profit margin: 6.2% (down from 6.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 20
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: zł3.69 (up from zł2.79 in 2Q 2022). Revenue: zł6.55b (up 34% from 2Q 2022). Net income: zł362.2m (up 33% from 2Q 2022). Profit margin: 5.5% (down from 5.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.9%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jun 02
Dino Polska S.A., Annual General Meeting, Jun 26, 2023 Dino Polska S.A., Annual General Meeting, Jun 26, 2023, at 10:00 Central European Standard Time. Reported Earnings • Mar 29
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: zł11.55 (up from zł8.21 in FY 2021). Revenue: zł19.8b (up 48% from FY 2021). Net income: zł1.13b (up 41% from FY 2021). Profit margin: 5.7% (down from 6.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 36% per year. Buying Opportunity • Feb 01
Now 21% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be zł482, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings is also forecast to grow by 26% per annum over the same time period. Reported Earnings • Nov 05
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: zł3.46 (up from zł2.33 in 3Q 2021). Revenue: zł5.37b (up 54% from 3Q 2021). Net income: zł339.4m (up 48% from 3Q 2021). Profit margin: 6.3% (down from 6.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 9.6%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 33% per year. Reported Earnings • May 06
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: zł1.95 (up from zł1.48 in 1Q 2021). Revenue: zł3.85b (up 40% from 1Q 2021). Net income: zł191.4m (up 32% from 1Q 2021). Profit margin: 5.0% (down from 5.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 27%, compared to a 7.5% growth forecast for the industry in Poland. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 30% per year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 15% share price gain to zł316, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Consumer Retailing industry in Europe. Total returns to shareholders of 159% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł548 per share. Reported Earnings • Mar 12
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: zł8.21 (up from zł6.57 in FY 2020). Revenue: zł13.4b (up 32% from FY 2020). Net income: zł805.3m (up 25% from FY 2020). Profit margin: 6.0% (down from 6.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 27%, compared to a 7.8% growth forecast for the retail industry in Poland. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 37% per year.