Dadelo (DAD) investor relations material

Executive summary

• Revenue increased by 59.4% year-over-year to 443,988 thousand PLN, driven by strong sales of bicycles and accessories, with online and stationary channels contributing.

• Net profit rose to 15,409 thousand PLN from 11,526 thousand PLN year-over-year, reflecting improved operational efficiency.

• Expansion included new stationary stores in Gdańsk, Poznań, and Kraków, with further projects underway in Rzeszów and Zabrze.

• The company remains Poland's largest online seller of bicycle parts and continues to diversify its product range.

Financial highlights

• Operating profit increased to 25,203 thousand PLN from 15,066 thousand PLN year-over-year.

• Gross margin remained stable at 31.7%, with EBITDA margin at 7.7% and EBIT margin at 5.7%.

• Net cash flow from operations was negative at -119,640 thousand PLN, mainly due to inventory buildup for the next season.

• Total assets grew to 408,041 thousand PLN from 237,114 thousand PLN year-over-year.

• Equity increased to 140,142 thousand PLN, while short-term liabilities rose to 198,250 thousand PLN.

Outlook and guidance

• Management expects continued growth, supported by new store openings and a robust online platform.

• The company plans to further increase inventory and expand credit lines to support sales in 2026.

• No significant post-balance sheet events except for an increase in the revolving credit limit to 150,000 thousand PLN in March 2026.