It said consolidated sales stood at RON304.5 million, 31.6% lower compared with the first half of 2019.
General and administrative expenses decreased 8.2% and the group’s EBITDA stood at RON0.8 million in the first half, down 97.9% on the year.
In the second quarter, the group’s consolidates sales dropped 54% on the year, to RON106.3 million, with the biggest drop recorded in April when most restaurants were closed and delivery activity was limited.
Sphera said the loss registered in the first half was tempered by swift and significant cost-optimization measures implemented in the second quarter when restaurant expenses were reduced by 47.3% compared with the second quarter of 2019.
Sales in June grew significantly, reaching approximately 65% of the pre-pandemic combined performance of January and February 2020 – a considerable recovery considering that the performance relied almost solely on delivery and takeout services, the group said.
At the end of June, 97.6% of the group’s restaurants were open on all markets of activity.
Sphera also restarted expansion and investments that were initially delayed by the COVID-19 pandemic, opening four new KFC restaurants in Romania and Italy in the third quarter of 2020.