The Zabka chain of convenience stores from Poland, which recently expanded to Romania, plans to open 50 stores in the country by the end of the year, finance director Marta Wrochna-Lastowska announced on Wednesday.
In the medium term, Zabka wants to open more than 1,000 units a year, both in Poland and Romania, and double the sales to end users by 2028 compared to the level of 2023, according to Reuters.
Zabka expects to record a higher profit margin this year.
“Analyzing the profit of the first semester of 2024, we expect that this year as a whole we will record a profit margin above the level of 12.4% achieved in 2023, “, Marta Wrochna-Lastowska told journalists.
Last year, profit before taxes, interest, depreciation and amortization (EBITDA) increased by 17%, to 2.83 billion zlotys ($729 million), according to Agerpres.
Zabka hopes to raise up to 6.45 billion zlotys ($1.67 billion) in this month’s Initial Public Offering (IPO), in the largest possible listing of 2020 on the Warsaw Stock Exchange. Zabka receives nothing from the money raised.
“Given our ability to generate cash, we simply do not need, as a company, to issue new shares at this time. In the future we could consider such a possibility”, explained the financial director .
Private equity fund CVC Capital Partners would remain the largest shareholder after the IPO, with a stake of around 40%.
Founded in 1998, Zabka is one of the most famous brands in Poland. The CEO of Zabka, Tomasz Suchanski, said that the group has more than 10,700 stores in Poland.
The management sees new opportunities for expansion in Poland and plans to open 4,500 units in the period 2024 – 2028, until the network reaches around 14,500.
In the first half of 2024, revenue rose to 11.15 billion zlotys from 9.18 billion zlotys a year ago. In 2023, the group recorded a net profit of 356 million zlotys on revenue of 19.81 billion zlotys.
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2024-10-02 14:35:00
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