New Risk • May 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. 공고 • Apr 10
DINE, S.A.B. de C.V., Annual General Meeting, Apr 27, 2026 DINE, S.A.B. de C.V., Annual General Meeting, Apr 27, 2026. Location: multipurpose room, the ground floor of arco tower i, within the arcos bosques corporate business center, no 400b paseo de los tamarindos street, bosques de las lomas neighborhood, zip code 05120, Mexico Board Change • Dec 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director Jose del Barrio Molina was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Nov 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director Jose del Barrio Molina was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: Mex$0.02 (vs Mex$0.45 loss in 3Q 2024) Third quarter 2025 results: EPS: Mex$0.02 (up from Mex$0.45 loss in 3Q 2024). Revenue: Mex$594.0m (up 37% from 3Q 2024). Net income: Mex$14.5m (up Mex$298.8m from 3Q 2024). Profit margin: 2.4% (up from net loss in 3Q 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Oct 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director Jose del Barrio Molina was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Mex$22.00, the stock trades at a trailing P/E ratio of 53.5x. Average trailing P/E is 10x in the Real Estate industry in South America. Negligible returns to shareholders over past three years. Board Change • Aug 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director Jose del Barrio Molina was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 04
First quarter 2025 earnings released: EPS: Mex$0.07 (vs Mex$0.19 in 1Q 2024) First quarter 2025 results: EPS: Mex$0.07 (down from Mex$0.19 in 1Q 2024). Revenue: Mex$934.6m (up 9.3% from 1Q 2024). Net income: Mex$45.7m (down 62% from 1Q 2024). Profit margin: 4.9% (down from 14% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. 공고 • Apr 11
DINE, S.A.B. de C.V., Annual General Meeting, Apr 28, 2025 DINE, S.A.B. de C.V., Annual General Meeting, Apr 28, 2025. Location: multipurpose room, the ground floor of arco tower i, within the arcos bosques corporate business center, no 400b paseo de los tamarindos street, bosques de las lomas neighborhood, zip code 05120, Mexico New Risk • Feb 20
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.6% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.6% operating cash flow to total debt). Shares are highly illiquid. Earnings have declined by 21% per year over the past 5 years. Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: Mex$0.02 (vs Mex$0.17 loss in FY 2023) Full year 2024 results: EPS: Mex$0.02 (up from Mex$0.17 loss in FY 2023). Revenue: Mex$4.51b (up 224% from FY 2023). Net income: Mex$13.0m (up Mex$120.5m from FY 2023). Profit margin: 0.3% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. New Risk • Oct 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Earnings have declined by 28% per year over the past 5 years. Reported Earnings • Oct 17
Third quarter 2024 earnings released: Mex$0.45 loss per share (vs Mex$0.69 loss in 3Q 2023) Third quarter 2024 results: Mex$0.45 loss per share (improved from Mex$0.69 loss in 3Q 2023). Revenue: Mex$434.6m (up 96% from 3Q 2023). Net loss: Mex$284.3m (loss narrowed 35% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 22
Second quarter 2024 earnings released: Mex$0.11 loss per share (vs Mex$0.24 profit in 2Q 2023) Second quarter 2024 results: Mex$0.11 loss per share (down from Mex$0.24 profit in 2Q 2023). Revenue: Mex$520.3m (up 132% from 2Q 2023). Net loss: Mex$67.3m (down 144% from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 15
Full year 2023 earnings released: Mex$0.17 loss per share (vs Mex$0.34 profit in FY 2022) Full year 2023 results: Mex$0.17 loss per share (down from Mex$0.34 profit in FY 2022). Revenue: Mex$1.39b (up 27% from FY 2022). Net loss: Mex$107.5m (down 150% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Reported Earnings • Jul 21
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: Mex$224.5m (up 11% from 2Q 2022). Net income: Mex$151.6m (down 36% from 2Q 2022). Profit margin: 68% (down from 117% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
First quarter 2023 earnings released First quarter 2023 results: Revenue: Mex$430.6m (up 20% from 1Q 2022). Net income: Mex$209.3m (down 25% from 1Q 2022). Profit margin: 49% (down from 78% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: Mex$0.34 (vs Mex$0.13 in FY 2021) Full year 2022 results: EPS: Mex$0.34 (up from Mex$0.13 in FY 2021). Revenue: Mex$1.09b (down 14% from FY 2021). Net income: Mex$216.8m (up 163% from FY 2021). Profit margin: 20% (up from 6.5% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Board Change • Dec 13
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Independent Director Arturo Elias Ayub was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 22
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Independent Director Arturo Elias Ayub was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 28
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Independent Director Arturo Elias Ayub was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 17
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Independent Director Arturo Elias Ayub was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 22
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: Mex$201.5m (down 48% from 2Q 2021). Net income: Mex$234.8m (up 95% from 2Q 2021). Upcoming Dividend • Jun 14
Upcoming dividend of Mex$0.20 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Mexican dividend payers (6.2%). Lower than average of industry peers (4.7%). Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: Mex$0.13 (up from Mex$0.067 loss in FY 2020). Revenue: Mex$1.28b (up 68% from FY 2020). Net income: Mex$82.6m (up Mex$125.1m from FY 2020). Profit margin: 6.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Reported Earnings • Oct 22
Third quarter 2021 earnings released: Mex$0.017 loss per share (vs Mex$0.03 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: Mex$170.0m (up 47% from 3Q 2020). Net loss: Mex$10.9m (down 150% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Board Change • Sep 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director Arturo D'Acosta Ruiz was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 16% share price gain to Mex$18.50, the stock trades at a trailing P/E ratio of 60.7x. Average trailing P/E is 11x in the Real Estate industry in South America. Total returns to shareholders of 73% over the past three years. Reported Earnings • Apr 26
First quarter 2021 earnings released: Mex$0.03 loss per share (vs Mex$0.04 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: Mex$251.1m (up 113% from 1Q 2020). Net loss: Mex$17.1m (loss narrowed 25% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 16
Third quarter earnings released Over the last 12 months the company has reported total losses of Mex$147.5m, with earnings decreasing by Mex$480.4m from the prior year. Total revenue was Mex$623.0m over the last 12 months, down 77% from the prior year.