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February 20, 2014

SPAIN: 2013 profits up at discounter Dia

Dia, the Spain-based discount retailer, saw earnings rise in 2013, boosted by "outstanding profitability" in Iberia.

By Dean Best

Dia, the Spain-based discount retailer, saw earnings rise in 2013, boosted by “outstanding profitability” in Iberia.

The company booked adjusted net profit of EUR227.7m (US$312m), up 11.7%. Adjusted EBIT rose 10.9% to EUR374.7m. The adjusted numbers excluding restructuring and impairment costs. Dia said its net attributable profit jumped 32.5% to EUR209.3m.

“2013 has been a great year for Dia. In an extremely challenging scenario, we have achieved our goals,” CEO Ricardo Currás said. “In Iberia, we have reached an outstanding level of profitability, gaining market share for yet another year, especially through an ambitious and well-executed expansion plan based mainly on the growth of franchise.”

Net sales were up 6% at EUR9.84bn. In Spain, which accounts for over 45% of Dia’s revenue, net sales were up 4.2% at EUR4.5bn. Across the border in Portugal, net sales dipped 2% to EUR784.2m.

In Brazil, Dia’s second-largest market by sales, the company posted a 21% jump in net sales to EUR1.44bn.

Dia added over 1,500 stores to its network, which also takes in markets including Argentina and China, in 2013, thanks in the main to its acquisition of drug store Schlecker.

The retailer said it expected a “tough” 2014 in “many” of its markets but added: “The combination of being proximity experts and offering the best prices will allow the company to continue to grow. Accordingly, Dia estimates that its investment in store openings will be higher than in 2013.”

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