Sphera Franchise Group doubles profitability in H1 2024 and records a 50.7% YoY increase in EBITDA
H1 2024, best first semester of the year in history in terms of sales, EBITDA and net profit - Net profit of RON 40.6 mn, +109.4% YoY in H1 2024, generated by strong performance across all three markets - Restaurant operating profit of RON…
- H1 2024, best first semester of the year in history in terms of sales, EBITDA and net profit
- Net profit of RON 40.6 mn, +109.4% YoY in H1 2024, generated by strong performance across all three markets
- Restaurant operating profit of RON 87.8 mn, +44.8% YoY in H1, with high double digit increases for Taco Bell, KFC Romania and KFC Moldova
- Increase of 50.7% YoY in EBITDA, to RON 78.9 mn, in H1 2024, due to effective cost management
- Restaurant sales of RON 740 mn in H1 2024, 6.4% higher vs H1 2023
- Q2 2024, best second quarter of the year in history in terms of sales, EBITDA and net profit
Sphera Franchise Group ("Sphera"), the largest group in the food service industry in Romania, continued to improve its performance. The first half of 2024 was the best first semester in its history in terms of sales, EBITDA, and net profit. Compared to the same period last year, the Group saw a 6.4% increase in sales (reaching RON 740 mn) and more than doubled its net profit. Sphera Group also achieved double-digit increases in restaurant operating profit and EBITDA.
"In the first half of the year, we achieved very good financial results despite the less than favorable market conditions, including higher-than-expected inflation and cautious consumer behavior. Our performance once again demonstrates the strength of our strategy and the power of the brands in our portfolio, all supported by an exceptional team, whom I thank for our success today. As we look to the future, we remain confident that our solid strategy, strong team, and 30 years of experience will continue to deliver results.”, said Călin Ionescu, CEO at Sphera Franchise Group.
The Romanian market was the main contributor to the Group's performance in H1 2024, generating sales of RON 639.5 mn, which accounted for more than 86% of the total sales. KFC Romania is the most valuable asset in Sphera’s portfolio, with restaurant sales reaching RON 544 mn, up by 8.6% year-on-year.
Profitability also significantly improved, with EBITDA showing a strong upward trend, rising to RON 78.9 mn in the first half of 2024, up 50.7% yoy. This was mainly driven by the performance of KFC Romania, which saw a 50.7% increase year-on-year, reaching RON 70.3 mn in EBITDA. Additionally, KFC Moldova also experienced a double-digit increase (+57.3%), while Taco Bell more than doubled its EBITDA (+110.2%).
