AmRest Holdings SE (“AmRest” or the “Group”) hereby provides a business update on the third quarter preliminary sales, comparable sales trends and the status of restaurants opened.
During the third quarter of 2020, the share of re-opened restaurants as well as the positive top-line trends with regards to sales recovery have continued steadily throughout all three months. As of the end of the third quarter, 98% of the store base was re-opened and fully operational and customer traffic has been returning back to the dine-in channel taking a significantly larger share of total business then visible in the previous quarter. As a result, the group’s preliminary sales in the respective period amounted to EUR 441.4m, implying a 12.6% decrease compared to the same period last year, while quarter-to-quarter sales improved by 62.2% from Q2 2020 levels and by 7.2% compared to Q1 2020 figure.
On a same-store-sales basis excluding F/X and adjusting for temporarily closed stores, the index reached 86.6% in Q3 2020 compared to 91.1% in Q1 2020 and 67.8% in Q2 2020.
Preliminary sales of the CEE division amounted to EUR 198.5m in Q3 2020 and were 9.1% lower compared to Q3 2019 and 48.6% higher compared to the quarter before. The Russian segment generated revenues of EUR 42.8m in Q3 2020, 22.2% lower compared to the corresponding period in 2019 and 91.8% higher versus Q2 2020. Sales in the Western Europe division in Q3 2020 amounted EUR 167.2m, which was lower by 16.2% compared to Q3 2019 and 80.9% higher than in the quarter before. In China, sales amounted EUR 24.7m in Q3 2020, an increase of 4.5% compared to Q3 2019 and of 28.4% compared to the quarter before. Revenues reported under segment “Other” reached EUR 8.1m and were 1.5% lower than year ago and 77.3% higher than in the quarter before.
“Observing the growing number of COVID-19 infections across Europe and beyond, AmRest remains highly focused on the health and safety of guests and employees and is adhering to the strict safety measures recommended by the local authorities and put in place throughout our network earlier this year.
Meanwhile, we have been further adding to our capabilities, optimizing our digital delivery channel as well as take-away and drive-through, taking advantage of the observations and learnings we made during the first wave. We therefore feel even better prepared than during spring of this year to provide customers with a seamless and positive experience allowing for a smooth transition from dine-in to alternative sales channels.
I believe that this will allow us to better mitigate the impact we are facing due to the government measures imposed across some of our geographies most recently, including those in Poland and Czech Republic and to shift the business from dine-in into delivery, take-away and drive-thru channels.” says Mark Chandler, CEO of AmRest.
Legal act: Art. 17 Sec. 1 of Regulation (EU) No 596/2014 of The European Parliament and of The Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC