Sphera Franchise Group Sales Grow 24% in 2019, to RON955M

Sphera Franchise Group (SFG.RO), which manages restaurants under the KFC, Pizza Hut and Taco Bell brands, said Monday its consolidated sales grew 23.8% on the year in 2019, to RON955 million (around EUR201 million).

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Imaginea articolului Sphera Franchise Group Sales Grow 24% in 2019, to RON955M

Sphera Franchise Group Sales Grow 24% in 2019, to RON955M

It said fourth quarter sales grew 19%, to RON260 million.

The main contributors were the 15.9% growth in the sales of KFC restaurants in Romania and the 155% growth of KFC restaurants in Italy). Taco Bell restaurants sales grew 171%, while Pizza Hut restaurants sales grew 7.3% on the year, the group said in its preliminary earnings report.

“We are very satisfied with our results for the year 2019. Our sales remained strong and our margins improved despite ongoing challenges. We opened 16 stores last year and remain firmly committed to continue the expansion of our brands in all markets that we operate,” said Georgios Argentopoulos, CEO of Sphera.

Restaurant operating profit grew 26% on the year in the fourth quarter and 20.5% for the full year 2019, the group said.

For the full-year 2019, like-for-like sales across Sphera brands increased 7.8%, mainly supported by a 9.2% advance for KFC Romania, a 16.2% increase for KFC Moldova and a 5.6% increase for KFC Italy. In the fourth quarter, like-for-like sales across Sphera brands increased 6.2% compared with the fourth quarter of 2018.

Excluding the impact of IFRS 16 and one-off adjustments, normalized EBITDA increased 32.7% on the year, to RON96 million in 2019, boosted by the 51% annual growth registered in the fourth quarter.

Sphera posted restaurant operating profit of RON124.3 million, up 20.5% on the year, and a net profit of RON64.2 million, up 165% on the year.

In the fourth quarter, restaurant operating profit jumped 26%, to RON36.1 million, while net profit reached RON26 million compared with a loss of RON8.1 million in the fourth quarter of 2018.

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