2.6Information on the foreseeable performance of the entity

• In 2016, DIA expects gross sales under banner at constant currency to post high-single-digit growth.

• DIA forecasts higher adjusted EBITDA (at constant currency) in 2016 than in 2015, with a positive contribution from Iberia and Emerging Markets.

• The consolidated adjusted EBITDA margin in 2016 is expected to be stable in comparison with 2015.

• DIA expects to deliver a strong cash flow generation in 2016 based on the positive cash inflow from working capital and lower recurrent capex, non-recurring cash items and cash taxes.

• DIA budgets from EUR300m to EUR320m recurrent capex in 2016 at comparable perimeter.

• DIA has set the following targets for the 2015-18 period:

  1. EUR750m of cumulated Cash from Operations (adjusted EBITDA less non-recurring items less capex on an organic basis).

  2. 7% organic sales CAGR (ex-currency).