Domino's Pizza Group (DOM) H1 2026 earnings summary

Executive summary

• Achieved strong H1 performance with system sales up 6.1% year-over-year to £825.3m and group revenue up 6.7% to £353.6m, driven by growth in pizza, new chicken offerings, and a World Cup trading uplift.

• Profit, EBITDA, and cash flow increased, supported by innovation (CHICK'N'DIP, Italianos), operational excellence, and strategic focus on organic growth, loyalty, aggregators, and supply chain productivity.

• Gained market share across pizza and chicken, opened more stores, and demonstrated early evidence that the organic growth strategy is working.

• Opened 11 new stores, including the 1,400th location, and launched new menu items such as CHICK 'N' DIP and Italiano's Pizza Range.

• Leveraged brand, scale, store network, delivery, digital, and supply chain strengths to drive results.

Financial highlights

• System sales reached £825.3m, up 6.1% year-over-year; like-for-like sales grew 4.9%, and like-for-like orders increased 1.6%.

• Underlying EBITDA increased 3.6% to £66.2m; underlying profit after tax up 2.1% to £33.7m; underlying basic EPS up 4.8% to 8.8p.

• Free cash flow before non-underlying items surged 74.9% to £50.2m.

• Interim dividend proposed at 3.7p per share, up 2.8% from last year.

• Corporate stores revenue up 37.4%, reflecting the Victa acquisition and improved Irish trading.

Outlook and guidance

• Confident in achieving full-year expectations, supported by strong first-half performance and positive July trading momentum from the World Cup.

• No material cost or supply issues anticipated for this year or next due to full hedging on key items through 2026 and into 2027.

• FY26 guidance: depreciation/amortisation c.£25m, interest c.£21m, tax rate c.25%, capex c.£35m.

• Ongoing investment in growth initiatives, digital innovation, and supply chain capacity planned.