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Amrest reports strong growth

Alex Hayes 15 May 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

CEE REGION Restaurant holding company Amrest has published its results for the first quarter. Over the period the company opened 25 restaurants bringing their total number to 2,137.

The group recorded an increase of 28.1 pct in its consolidated revenues, which reached EUR 444.9mln. The company’s EBITDA came to EUR 76.8 mln (under IFRS16 standards) with a margin of 17.3 pct. Net profit (IFRS16) came in at EUR 3.7mln

“The strength of our strategy and competitive advantages built around brands, scale and people was again visible in the first quarter of this year, as we have delivered solid results across different markets and brands. In addition to being able to execute on strategy and deliver results in line with our plan in the first three months of the year, we are also encouraged by increasingly supportive trends we see in different divisions of our organisation making us confident for the second quarter and the rest of this year. As we have communicated before, after a year of significant M&A activity, we will focus on digesting our recent acquisitions over the course of 2019and achieving the synergies we have identified. In addition, and despite our increase in store openings compared to last year, we will focus on de-leveraging our balance sheet from 3.1x net debt / EBITDA, which results from last year’s acquisitions and is visible as of the end of March,” commented Peter Kaineder, the chief strategy officer at Amrest.

Revenues in Central and Eastern Europe reached EUR 185.8 mln up by 13.6 pct y-o- y with Poland and Hungary standing out as strongest performers. Over the past twelve months, the group has added 144 stores in Central and Eastern Europe.

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