AmRest Holdings recorded EUR 19.9 million of consolidated net loss attributable to shareholders of the parent company in Q1 2021 versus EUR 41.6 million loss a year earlier, the company said in its report.
The operating loss was EUR 9.7mn vs. EUR 23.6mn loss a year earlier. The EBITDA result reached EUR 49.6 million, compared with EUR 42.6 million a year earlier. Consolidated sales revenues amounted to EUR 380 million in Q1 2021 compared to EUR 411.9 million a year earlier.
In Q1 2021, the group opened 21 restaurants compared to 17 last year and 29 in Q4 2020. Most of the openings took place in the Western Europe region. The total number of restaurants increased by 5 compared to the end of 2020 and reached the level of 2,342, also thanks to the outlets review and closures program that started in 2020.
In Central and Eastern Europe (CEE), sales in the first quarter of 2021 amounted to EUR 163.8 million and were 10% lower compared to the same period last year. In the Western Europe segment, revenues in the first quarter of 2021 amounted to EUR 150.8 million and were lower by 8.6% y / y. Revenues in Russia amounted to EUR 37.7 million in the first quarter of 2021, which means a decrease of 23.1% y / y. In China, sales improved significantly by 116.4% y / y to EUR 21.3 million. The Other segment reported a 2.7% y / y increase in sales in Q1 2021 to EUR 6.4 million, according to the report.
AmRest Holdings SE is the largest independent restaurant chain operator in Central and Eastern Europe. The company is also developing activities in, inter alia, Western Europe, Russia and China. The company has been listed on the WSE since 2005. Initial sales for 2020 amounted to EUR 1,522.9 million and was 22.4% lower than in 2019.
Source: AmRest and ISBnews
