Poland's Zabka posts over 23% rise in 2024 adjusted EBITDA

Polish convenience store chain Zabka Group ZAB has reported that its adjusted earnings rose 23.7% from a year earlier, driven by an increase in sales, expansion of stores and effective cost management.

The earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted by one-off items, rose to 3.51 billion zlotys ($908.1 million), the company said late on Monday.

In the fourth quarter, the adjusted EBITDA amounted to 987 million zlotys in comparison to 984 million zlotys seen in a Reuters poll.

In 2024, the group reported sales revenue of 23.80 billion zlotys, a 20.2% increase compared to the previous year. The growth was driven by the organic expansion and the enlargement of its store network.

"Our medium-term goal is to double the value of end-customer sales between 2023 and 2028, achieved through the continued opening of over 1,000 stores annually and increasing sales in existing locations (LFL) and digital channels," Tomasz Blicharski, strategy and development officer, said in a statement.

In 2024, Zabka expanded its network by opening 1,166 stores, including 60 in Romania, bringing the total number of chain points to 11,069. In the fourth quarter, the group added 169 new stores.

Zabka, one of Poland's largest and most widespread convenience store chains, has been expanding its network into Romania under the brand name Froo since 2024.

The group debuted on the Warsaw Stock Exchange last October with a 6.45 billion zloty IPO, and following the trading session on March 21, joined Poland's blue-chip index, the WIG20 GPW.

($1 = 3.8657 zlotys)