JB Capital, 30 July 2024
“We increase our TP by 5% to €0.031 and reiterate Buy. The stock looks cheap.”
JB Capital, 30 July 2024
“DIA’s 2Q24 Adjusted EBITDA (including rent but excluding restructuring costs) beat our forecast by 30% on a better-than-expected margin in Spain, underpinning the success of its turnaround efforts.”
Alantra, 24 April 2024
“DIA: on the path to becoming investable […] Spain is back on track. After selling the large format stores and the HPC Clarel chain, DIA is now focused on its core proximity model, having remodeled most of the stores in the L3Y. The restructuring is bearing fruit.”
JB Capital, 29 Feb 2024
“We reiterate Buy […] DIA has reported a strong set of 2H23 results, with adjusted EBITDA (includes rents but excludes restructuring costs) beating our estimate by 44%. The key market is Spain."
JB Capital, 20 Feb 2024
“DIA has reported a strong set of 2H23 results, with adjusted EBITDA beating our estimates by 44%... We believe this data shows great progress in the turnaround process.”
El Confidencial, 17 October 2023
“The controversial arrival of Letterone … as the company's controlling shareholder …. represented a turning point in the evolution of the business, but has so far been far from being a springboard for the group's share price. Since he took control of the board of directors in May of that year, Dia's shares have fallen by almost 85%.”
El Confidencial, 17 October 2023
“From almost 5,000 to less than 100 million euros in just over four years . The story of Dia's stock market collapse can be counted as one of the most turbulent on the Spanish stock market in recent times.”
European Supermarket Magazine, 12 September 2024
"DIA’s market valuation has been in 'freefall' and the stock remains materially undervalued since LetterOne increased its stake in the company to 74.8% in 2019"
European Supermarket Magazine, 12 September 2024
“The shareholder group also supported the idea of LetterOne considering the sale of part of its stake in DIA to boost market liquidity, as its substantial holding in the company contributes to DIA's low market valuation."
Business Insider España, 11 September 2024
"It also divested its business in Portugal, sold 235 stores to Alcampo and 1,015 (Clarel's) to another operator whose name has not been disclosed. With these changes, the company began to see the first green shoots, but the lack of transparency of the managers behind these important decisions has prevented share prices from reflecting the real value of the company"
Business Insider España, 11 September 2024
"Although Dia has implemented transformations in its business, focusing its activity on proximity supermarkets and selling non-strategic assets, the coalition criticizes the fact that these developments have not been adequately communicated to the market."
Business Insider España, 11 September 2024
"A coalition of Dia's minority shareholders, led by Western Gate, has again demanded a seat on the company's board of directors. They denounce management inaction in the face of a continuing share price decline since 2019, even though the company has taken drastic measures to improve its economic and financial situation."
Business Insider España, 11 September 2024
"It's time for the company to change": Dia's minority shareholders demand a seat on the board in the face of a ‘free fall’ in the share price."
Bolsamanía, 11 September 2024
“[The Coalition] claimsthat they have formally expressed to the Board their concerns about governance, transparency and upholding the protection of all shareholders and ‘the current Board of Directors has only two members with experience in the retail sector and neither of them has worked in the food retail sector for more than ten years.’"
Europa Press, 11 September 2024
"The Coalition has advocated the idea of LetterOne selling part of its stake in DIA to increase market liquidity, as shareholders believe that limited liquidity contributes to the company's low market valuation."
Europa Press, 11 September 2024
"The minority shareholders therefore point the finger directly at the Board, chaired by LetterOne's representative, and reproach it for not wanting to ‘proactively promote DIA's turnaround to the market.'"
Expansion, 31 July 2024
“In Spain, the group reported above-market growth in like-for-like sales, driven by volume and the increase in digital customers and online sales, almost doubling EBITDA to €114 million.”
Agencia, EFE, 30 July 2024
“The DIA Group obtained a net turnover of 2,816 million euros in the first half of 2024, 6.3% more than in the same period last year.”
El Espanol, 24 April 2024
“Dia is set in Spain to achieve organic growth this year thanks to the strengths of the value proposition, reducing capex needs. To this end, it aims to achieve an increase in loyalty through Club Dia, an increase in the frequency and number of visits thanks to an improved assortment of fresh products, an increase in the average basket thanks to the continuous review and innovation within the assortment and the improvement and growth of the online channel and the digitalisation of our customers.”
Alantra, 24 April 2024
“Dia is set in Spain to achieve organic growth this year thanks to the strengths of the value proposition, reducing capex needs. To this end, it aims to achieve an increase in loyalty through Club Dia, an increase in the frequency and number of visits thanks to an improved assortment of fresh products, an increase in the average basket thanks to the continuous review and innovation within the assortment and the improvement and growth of the online channel and the digitalisation of our customers.”
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