AmRest continues its positive growth, reaching revenues of 658 million EUR in Q3 2022
- Revenues for the third quarter reached 658.2 million EUR, 23.3% growth Y-o-Y
- The Group’s EBITDA reached 114.0 million EUR, 6.1% higher than in the same period of 2021
- Profit attributed to shareholders at 34.4 million EUR
AmRest Group, a leading European multi-brand restaurant operator, continued a growth trend by achieving consolidated sales for a third quarter amounting to 658.2 million EUR, an increase of 23.3% year-on-year and 30.4% compared to the same quarter in 2019 (pre-pandemic period). In terms of the comparable same-store sales index, the level reached 117% with respect to 2021.
The Group’s EBITDA reached 114 million EUR during Q3 2022, which was 6.1% higher than in the same period of 2021. The EBITDA margin stood at 17.3%, the highest figure in the current financial year, although 2.8 percentage points lower than in the same quarter of the previous year. These figures are due to the high levels of inflation in the global economy as a result of the cost pressures in energy products and the increase in raw material prices. Despite this, the profit attributed to shareholders amounted to 34.3 million EUR.
In terms of balance sheet in the current year own resources increased by 40.9 million EUR, more than 13% growth. In addition, the Group has decreased its net financial debt by 16.4 million EUR in the quarter and by 212.5 million EUR since the COVID outbreak.
According to Eduardo Zamarripa, Chief Financial Officer for AmRest Holdings SE,: “AmRest remains in a well position with its attractive value-for-money offer and a well-balanced portfolio across brands and countries. From the perspective of distribution channels, as in previous months, the dine-in channel again showed the strongest growth following the progressive elimination of Covid restrictions in most of the countries where AmRest operates, with the major exception of China, still affected by zero Covid policies”.
The Group has a proven business model, able to adapt efficiently to the needs of a growing customer base. Also, a strong balance sheet that provides the necessary flexibility to be able to face a context of high economic uncertainty while continuing to invest in the opening of new restaurants, refurbishment of existing ones and increasing investments in digitalisation.