AmRest achieves record sales in 4th quarter 2021
- Consolidated revenues reached 1,917 million EUR corresponding to FY2021, 25,9% growth YOY, and the company recorded all-time revenue records in the third and fourth quarters
- The Group’s EBITDA in the year reached 359.1mn EUR, a YOY increase of 78%
- The Group opened 147 new restaurants during 2021, well above the target of 130
AmRest Group, a leading European multi-brand restaurant operator with a portfolio of world-known brands across 25 countries, closed the financial year 2021 with a positive growth by achieving consolidated sales amounted to 1,917 million EUR. Compared to consolidated revenues of 1,522 million EUR achieved in 2020, a year marked by the impact of the pandemic, AmRest managed to exceed this figure by 25,9%. The excellent evolution registered is accompanied by a greater number of operating restaurants and the reopening of dine in, as a consequence of the easing of restrictions in most of the countries the Group operates. The share of open restaurants was on the level of 99% at the end of December 2021, compared to 92% at end of 2020.
In 2021 the Group’s EBITDA reached 359.1 million EUR, a YOY increase of 78%. Sales leverage, together with adoption of new sales channels and greater integration of the AmRest brands and markets, allowed the EBITDA margin to stand at 18.7%, compare to 13,2% in 2020. Finally, the profit attributed to shareholders amounted to 32.9 million EUR, compared to net losses of 182 million EUR in 2020.
Moreover, in 4Q 2021 revenues reached EUR 539.0 million, a YOY increase of 35.6% related to the same period of 2020, with a comparable same-store sales of +30.7%. This figure represents the highest quarterly revenue volume in the Group's history at the end of the year.
According to Luis Comas, CEO of AmRest, “2021 was another challenging year for the hospitality industry globally. Despite that, AmRest continued its recovery trends across major regions exceeding the pre-Covid levels. Additionally, the Company was able to open 147 new premises during the last year. The figures achieved prove the success of our Company's business model based on strong presence in online & delivery sector, continuous development of digital tools as well as the exceptional service and product offer. The priority is to grow in a profitable and sustainable way, and AmRest will continue to focus on developing its business in both, equity and franchise business model.”
Opening of 147 new restaurants during 2021, above the target of 130 set at the beginning of the year
The Group's installed capacity continued to increase with the opening of 147 new restaurants during 2021, well above the target of 130 set at the beginning of the year. The number of restaurants in the Group's portfolio total reached 2,436 at year end.
All major regions where AmRest operates noted the upward trend during 2021. Central and Eastern Europe stand out for posting the biggest improvement, with sales that reached 873.1 million EUR, representing 45.5% of Group sales and a YoY growth of 27.4%. As for Western Europe, the revenues in 2021 amounted to 720.9 million EUR, which was 23.7% higher compared to 2020. Russia t generated revenues of 185.2 million EUR in 2021, up to 21.5% compared to the corresponding period in 2020; while in China sales generated during the year exceeded the EUR 100 million mark for the first time (EUR 100.2 million) after a year-on-year increase of 31.1%.