5.1Shareholder value creation
In 2015, DIA demonstrated its ability to create value for its shareholders thanks to a profitable business model that is credible in the eyes of the market. The company’s shares, which are traded on the Madrid stock exchange and part of Spain’s benchmark blue-chip index, the IBEX 35, closed the year at €5.44, marking a year-on-year correction of 3.3%, albeit up 69.9% since its IPO in 2011. At year-end, the company’s market capitalisation stood at €3.39 billion.
The market applauded the positive results posted in the wake of the exit from the French market and the acquisition of the El Árbol supermarkets and Eroski stores in Spain by bidding the company’s share price higher during the first half of the year. Subsequently, however, in the second quarter, the share price suffered from food price uncertainty in Spain, currency devaluation in Brazil and Argentina and, above all, the global financial market rout during the final weeks of the year.
The company continued to enhance shareholder remuneration, paying out a dividend of €0.18 per share (+20%) and reducing share capital by 4.5% by buying back and cancelling own shares.
The company’s creditability with the investment community was enhanced by regular, open and transparent communication with shareholders, institutional investors and research analysts.
Stock market indicators
Two investors, Cervinia Europe (Arnault Group) and Blue Partners (Colony), sold their combined 8.48% interest in DIA by means of an accelerated placement of 55.2 million shares with institutional investors in 2015.
The shares were placed by Citigroup Global Markets Limited at a unit price of €7.4 so that the transaction size was €408.48 million.
Shareholder structure At year-end