The company mentions that the first half of 2024 was the best first half in its history in terms of sales, EBITDA and net profit. The Romanian market was the main contributor to the group’s H1/2024 performance, generating sales of RON639.5 million, accounting for over 86% of the total.
Similarly, the EBITDA has followed a positive evolution, increasing from RON 52.4 million in H1 2023 to RON 78.9 million in H1 2024, a solid growth of 50.7%. This improvement can be mainly attributed to effective cost-control measures taken across the Group, leading to an increase in operating profit.
The EBITDA margin varied per brand, with USFN Moldova having the highest margin of 22.4%, followed by USFN Romania: 12.9%, CFF: 7.8%, and USFN Italy: 7.0%. ARS saw negative EBITDA margin of 5.1%.
The first-half performance came amid both network expansion and sales growth in existing restaurants. The group opened 7 new KFC restaurants between June 30, 2023 and June 30, 2024, all in Romania, with two additional openings in July 2024.
In Q2/2024, sales totaled RON374.1 million, supported by growth on all the three markets, a trend that signals a promising year, according to the company.
Historically, the company sees a sales uptick from one quarter to the next throughout the year, with the final quarter typically registering the highest performance. This trend is anticipated also for 2024.
In Q2/2024, EBITDA followed a positive evolution, reaching RON39.1 million, up 35.7% from Q2/2023, while the group’s net profit posted remarkable annual growth, of 59.1%, to RON19.2 million.
(English version by Catalina Apostoiu)