Full Year 2025 DPC Dash Ltd Earnings Call Transcript
Key Points
- DPC Dash Ltd (DPCDF) reported a 24.8% increase in total revenue for 2025, reaching RMB 5.38 billion, driven by 307 net new store openings.
- The company achieved a 43.3% growth in adjusted net profit, with margins improving from 3.0% to 3.5%.
- DPC Dash Ltd (DPCDF) expanded its store network to 1,315 stores across 60 cities, becoming the third largest international market in Domino's global system by store count.
- The loyalty program saw significant growth, reaching 35.6 million members by the end of 2025, up from 24.5 million the previous year.
- The company maintained a strong cash position with RMB 1 billion in cash and cash equivalents as of December 31, 2025.
- Store level operating profit margin decreased from 14.5% in 2024 to 13.7% in 2025 due to incremental investments and increased delivery-related costs.
- Average daily sales per store declined by 5.3% year over year, attributed to the normalization of sales in high-performing stores.
- The company faced margin compression at the store level, with EBITDA margin decreasing from 19.3% to 18.6%.
- Staff compensation expenses at the store level increased to 28% of revenue, up from 27.5% in 2024, due to higher staffing for new market expansion.
- DPC Dash Ltd (DPCDF) experienced a negative 1.5% group same-store sales growth, impacted by high base effects and aggregator price wars.
Ladies and gentlemen, welcome to DTC Limited full year 2025 earnings conference call.
All participants will be in listen-only mode during management's prepared remarks, and there will be a question-and-answer session to follow.
Today's conference call will be recorded.
At this time, I would like to turn the call over to Cathy Zong, IR director of DPC Dash, who will share the process for today's call and provide some important disclosures. Please go ahead, ma'am.
Thank you operator. Hello everyone and thank you for joining us on today's call. Again, as a reminder, you are all currently on mute. We will open up the floor during Q&A session after prepared remarks. We will TRY to answer as many questions as time allows. Today you will hear from Eileen Wang, executive Director and CEO of DPC, Helen Wu, CFO of DPC, and Michael Xu, CPO of DPC.
Eileen will provide insights into the company's overall performance and share recent developments and Helen will go a bit deeper
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