This growth is expected to be driven by both same-store sales growth and new store openings. The split of revenue between the traditional and delivery channels will be comparable to that from 2024, with delivery channel representing estimated 18.5% of sales.
The 2025 budget will be debated within the general meeting of Sphera shareholders due on April 29.
EBITDA (excluding IFRS 16 impact) is estimated at RON194.3 million, reflecting a 9.8% annual increase, while net profit for the year is expected to grow by 8.2% to RON105.2 million.
The Group estimates the cash position available at the end of 2025 to be around RON122 million, while the bank debt is estimated to be around RON192 million with a net bank debt of RON70 million.
“Cost management remains a key focus area. The food and material expenses are budgeted to grow by 9.6%, a slower pace than sales, leading to the optimization of the restaurant gross margin. The costs of labor will reflect the increase in minimum wage level, and they will further be calibrated to match the ramp-up of the sales throughout of year. Energy cost is assumed to be predictable and in line with the in-place last year regulations. The weight of the G&A expenses in total sales in 2025 shall be slightly lower than in 2024, due to the inelasticity of these costs in relation to activity volume increase,” the statement reads.
In terms of network, the Group plans to accelerate the pace of network development in 2025, by opening 4 KFC restaurants and 1 Taco Bell in Romania, 1 KFC in Moldova, 3 KFC and 4 Cioccolatitaliani in Italia. The company will focus also on store remodeling and on the implementation of digital solutions. The total estimated CAPEX for 2025 is around RON100 million.
In 2025, Sphera Group plans to open 13 new units, namely, 4 KFC restaurants and 1 Taco Bell unit in Romania, 1 KFC in the Republic of Moldova, as well as 3 KFC and 4 Cioccolatitaliani units in Italy.
Sphera, with a market value of RON1.6 billion, ended 2024 with sales of over RON1.5 billion, up 5.4% year-over-year, and net profit of RON97.2 million, up 22% against 2023. SFG shares have gained 47% over the last 12 months.