AmRest Holdings SE (“AmRest” or the “Group“) hereby provides a business update on the first quarter 2021 preliminary sales, comparable sales trends and the status of restaurants operating.
There were no major changes in terms of restrictions since the end of the year until the middle of March, given the emergence of a ‘third wave’ of COVID-19 with growing number of positive cases and more strict measures taken in the majority of our European markets. As a reflection of those measures, dine-in was closed or with restricted capacity and only take away, delivery or drive through was permitted by local authorities. The share of open stores has been stable to approximately 93% at the end of March, up from 92% at the end of the previous quarter.
It should be highlighted that the Q1 2021 data is not fully comparable versus last year as it was not until the middle of March last year when the business in Europe started to be more affected by the COVID-19 outbreak. The discrepancy in number of days affected by restrictions in these two compared quarters explains the sales declines described below.
The Group’s preliminary sales in the respective period amounted to EUR 380.0m, implying a 7.8% decrease compared to the same period last year.
On same-store-sales basis excluding F/X and adjusting for temporarily closed stores, the index versus 2019 reached 83.1% in Q1 2021, up from 78.8% during Q4 2020.
Preliminary sales of the Central and Eastern Europe division amounted to EUR 163.8m in Q1 2021 and were 10.0% lower compared to Q1 2020.
The Russian segment generated revenues of EUR 37.7m in Q1 2021, 23.1% lower compared to the corresponding period in 2020.
Sales in the Western Europe division in Q1 2021 amounted EUR 150.8m, which was lower by 8.6% compared to Q1 2020.
In China, sales amounted to EUR 21.3m in Q1 2021, an increase of 116.4% compared to Q1 2020. COVID-19 impact started in the middle of January 2020 therefore actual comparison versus last year is not quite relevant.
Revenues reported under segment “Other” reached EUR 6.4m and were 2.7% higher than a year ago.
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