DP Poland a.k.a. Domino's Pizza's Poland (DPP), announced audited final results for the year ended 31 December 2022, which saw revenues climb 19.5% to £35.7m. On a like-for-like (LFL) basis, revenues rose 21%, driven by increased average ticket price and order count. Dine-in, carry-out and delivery recorded substantial growth, up 55.3%, 84.7%, and 5.2% respectively on a LFL year-on-year basis. System sales were also up 18.2% to £36.8m.
Group EBITDA increased to £1.7m from £1.1m in FY21, and group post-tax loss stayed broadly unchanged at £4.4m after high depreciation, amortisation and financing charges. DP Poland had £4.1m in cash at the end of 2022, up from £2.7m at the end of 2021 after the completion of a fundraising in August 2022.
The improved financial performance resulted from steady operational progress achieved during the period. LFL system order count increased by 10%, with 87% of delivery sales ordered online (85% in FY21). Delivery times were also reduced by 14.5% from last year. As inflation and food price rises begin to abate in Poland and Croatia in 2023, a further boost to profitability is expected.
DP Poland operated 116 stores at the end of 2022, including 113 in Poland and 3 in Croatia. That was boosted by a merger with rival Dominium, with all of the latter's stores rebranded to Domino's by the end of 2022. Additionally, All About Pizza was acquired in July 2022.
Overall, a strong showing from DP Poland in FY22 which suggests its volume-focused operational strategy appears to be working, having resulted in materially improved delivery times, system upgrades, portfolio consolidation, and gains in market share. The end result was top line growth coupled with significant EBITDA improvement, with strong momentum carrying into FY23.
Follow News & Updates from DP Poland: