Dia cuts losses by 75.6% in 2023, up to 30 million, due to the "great performance" of the business in Spain

MADRID, 29 Feb.

Dia cuts losses by 75.6% in 2023, up to 30 million, due to the "great performance" of the business in Spain


Dia Group recorded net losses of 30 million euros in 2023, cutting the losses it obtained in 2022 by 94 million (-75.6%), as reported this Thursday by the company, which specified that this result has been affected negatively due to the deterioration of assets in Brazil worth 60 million euros.

The group has highlighted that the improvement in the net result has been achieved thanks to the "great performance" of the business in Spain, which obtained a positive net result of 122 million euros in the year, driven by the success of its value proposition focused on the proximity.

In Argentina, the company achieved a net profit of 6 million euros thanks to excellent operation management in a complex macroeconomic context.

Grupo Dia's net sales reached 6,759 million euros in 2023, with comparable sales growth (like-for-like) of 3.3%, driven by the good pace of business in Spain.

Net sales at the Group level decreased by 7.2% compared to 2022, largely due to the impact of the exchange rate in Argentina.

"The good performance of the business during 2023 guarantees the trust of our customers and the success of our commitment to proximity. In this year we have fulfilled strategic priorities at the Group level that confirm that we are on the right path," highlighted Martín Tolcachir, CEO Global Group Dia.

"The milestones achieved in Spain and Argentina conclude the turnaround phase and allow us to begin a phase of organic growth always focused on offering our customers a first-class experience," he added.

The adjusted gross operating result (Ebitda) reached 216 million euros in fiscal year 2023, 7.8% more than the previous year, improving the margin on net sales by 0.4 percentage points, up to 3.2% , a result that reflects, according to the company, the "good performance" of its businesses and "operational efficiencies" that it has implemented.

Likewise, the company has highlighted the reduction of net financial debt by 120 million euros compared to 2022, to 422 million euros.

"The solid performance of the business in Spain and Argentina, combined with the funds received from the sale of stores in Spain, has allowed us to reduce the net financial debt by 120 million in the last financial year. The resulting level of leverage allows us to look closely confidence in the refinancing process that lies ahead," highlighted the group's financial director, Guillaume Gras.

Grupo Dia has closed 2023 with a network of 3,956 stores in Spain, Argentina and Brazil, in addition to the 994 Clarel stores in Spain and the 458 Minipreço stores in Portugal, pending the closing of the respective sales operations during the first half of 2024.


In Spain, as explained by the group, the 2023 financial year has made it possible to consolidate the store network, advance in the deployment of the online channel and gain market share on a comparable surface area.

At the end of the year, 86% of the 2,318 stores were already operating with the new model, thanks to the opening of 36 establishments and the remodeling of 289 during the year. The "good performance" of the business is reflected, according to the firm, both in comparable sales, which increased by 10.7% (3.2 points over 2022), and in net sales, which grew by almost 10% in the year. anus.

For its part, the adjusted Ebitda for the year reached 184 million euros, 31% more than in 2022, while the online channel closes 2023 serving 84% of the population in Spain, with the launch of the new website dia .es and the new Dia app.

Thus, the growth in digital customers has reached 29% and online sales have risen to 3.5% of total net sales (0.5% compared to 2022).

"This is the great milestone we have worked for in recent years. High quality products at affordable prices and an agile, fast and first-class shopping experience, in your local store and online. That is the formula that has made that Dia España returns to profit in 2023", stated the CEO of Dia España, Ricardo Álvarez.