Spanish retailer Dia has reported FY2018 sales of EUR9.39 billion, 14.9% less compared to last year. Total group losses for 2018 came in at EUR352.9 million. 

  • Adjusted EBITDA fell 34.8% to EUR338 million.
  • Underlying net profit was EUR49.7 million, a 74% drop compared to last year.
  • Comparable sales growth reduced by 3.6%.
  • Operating loss was EUR94.5 million, a change of 143.4%.
  • Total number of stores were 6,157 which is 56 more than in 2017.
  • Net sales of the company in 2018 were EUR7.28 million, a drop of 11.3% compared to 2017.

Spain:

  • Net sales in 2018 were EUR4.28 billion, which is 3.6% less than last year.
  • Gross sales were EUR5.15 billion, a reduction of 2.4% compared to 2017.
  • Adjusted EBITDA was down 27.6% to EUR251 million.
  • Operating loss was EUR50.5 million, a change of -137%.
  • Total number of stores operating at the end of period was 3,474.

Portugal:

  • Net sales in 2018 were EUR628 million which is 5.2% less than last year.
  • Gross sales were EUR808 million, a fall of 3.1% compared to 2017.
  • Adjusted EBITDA down 28.7% to EUR30 million.
  • Operating loss was EUR16.5 million, a change of -222.7%.
  • Total number of stores operating at the end of period were 532

Brazil:

  • Net sales in 2018 were EUR1.40 billion which is 18.1% less than last year.
  • Gross sales were EUR1.63 billion, a fall of 17.9% compared to 2017.
  • Adjusted EBITDA was down 23.3% to EUR54 million.
  • Operating profit was EUR6.2 million, a change of -81.9%.
  • Total number of stores operating at the end of period was 1,172.

Argentina:

  • Net sales in 2018 were EUR970 million which is 30.3% less than last year.
  • Gross sales were EUR1.79 billion, a slide of 38.8% compared to 2017.
  • Adjusted EBITDA was down 95.3% to EUR2.8 million.
  • Operating profit was -EUR33.8 million, a change of -199.3%.
  • Total number of stores operating at the end of the period was 979.

The new strategic plan for 2018-2023 was submitted, focusing primarily on transformation, modernisation and increasing market share in Spain, Portugal, Argentina and Brazil. The new strategy will follow these key points for 2018-2023.

  • Average single-digit sales growth.
  • Improved EBITDA from 2020.
  • Limited investment in 2019 and recovery to company levels from 2020.

Dia also announced that over the past few months it has carried out an investigation with the aim of clarifying the events that led to certain accounting adjustments to the 2017 annual accounts. The results of this investigation have been passed to the relevant authorities. 

Source: Grupo Dia