Revenues of the AmRest Group amounted to EUR 397.5 million in Q4 2020, which means a decrease of 24.9 percent per annum, the company said, presenting preliminary data. Initial sales for 2020 were EUR 1,522.9 million, 22.4 percent lower than in 2019.
The appearance of the “second wave” of the COVID-19 pandemic, which affected most of AmRest’s markets in the fourth quarter of 2020, resulted in the re-introduction of restrictions on the operation of restaurants and the operation of only selected sales channels. This resulted in a decrease in the share of open flats to around 92 percent at the end of December, compared to 98 percent at the end of the previous quarter, the company emphasized.
The comparable sales ratio in restaurants, excluding the impact of changes in exchange rates and the results of temporarily closed premises, reached 78.8% in the fourth quarter of 2020. For comparison, in the third quarter of 2020 it was 86.6 percent, and in the second quarter of 2020 it was 67.8 percent, it was also stated.
Initial sales generated in the CEE markets amounted to EUR 171.6 million in Q4 2020, which is a decrease of 26 percent y / y and 13.6 percent q / q. The result for the full year 2020 amounted to EUR 685.5 million and was 18.3 percent lower than in the previous year.
Revenues of the Russian division amounted to EUR 38.3 million in Q4 2020 and were 31.3 percent lower than in the previous year and 10.6 percent lower than in the previous quarter. Sales for the full year were EUR 152.5 million, which is 26.2 percent less than in 2019
Sales of the Western Europe division in Q4 2020 amounted to EUR 158.2 million and was 24.8 percent lower y / y and 5.4 percent lower q / q. On a full-year basis, sales amounted to 582.8 million euros, down 26.8 percent compared to 2019.
Revenue on the Chinese market in Q4 2020 reached EUR 22.6 million and was 2.9 percent higher than in the same period in 2019 and 8.3 percent lower than in the previous quarter. The division’s sales generated in 2020 amounted to EUR 76.4 million and were 14.7% lower than in the previous year, it mentioned.
“AmRest prepared well for the second wave of the pandemic and the re-emergence of restrictions. Our team learned from the events that took place at the beginning of the year and was fully focused on being close to the customer, offering safe, comfortable and reliable service, and at the same time, to optimize revenues and profitability within the available sales channels. Thanks to the efforts made, we managed to maintain the operation of over 90 percent of our restaurants, even in the last weeks of the year, when the pressure of tightening was the most intense.This result is much better than the one observed in the spring of last year and an achievement that I am very proud of. The same applies to sales comparable in restaurants – the numbers presented above reflect a series of efforts and initiatives. Of course, the steps we are taking are aimed at mitigating the short-term difficulties faced by our industry, but we are convinced that that the resulting benefit these will be felt long after the pandemic ends. The unique combination of people, brands and scale is our powerful asset, which is especially important in times of crisis, “said AmRest CEO, Mark Chandler.
Source: ISBnews
Photo: AmRest
