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Emperia retailer on store rollout, 2015 earnings, buyback & market consolidation

TAG'S: EMPERIA, Media

  Following are key takeaways from retailer Emperia's earnings press conference. Comments come from CEO Dariusz Kalinowski.

 

 

STORE ROLLOUT: "In 2015 we intend to open 95-140 new stores. It is hard to state whether it will be closer to the lower or the upper end of the range. This figure includes 15-20 own supermarkets, 30-50 smaller own stores, as well as 50-70 franchise stores. We intend to keep a similar rollout pace in 2016." Emperia had 252 stores at end-2014.

 

2015 EARNINGS: "As far as our development and IT segments are concerned, in 2015 we assume an improvement of net profit. In the case of the retail segment we also want to improve profitability, but one needs to take into account that in 2014 we had a lot of one-off costs which will no longer burden us this year."

 

MARKET CONSOLIDATION: "The market is difficult and therefore we believe that it is a very good moment for consolidation and takeovers through cash transactions or share issues. We do not, however, conduct such talks and we do not assume that such a transaction is possible this year. Still, we are prepared for it from an organizational point of view."

 

SHARE BUYBACK: "We want to continue the share buyback. If market conditions allow, we may spend on it an amount similar to last year [i.e. PLN 57.9 mln - PAP]."

2015-03-04



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