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Americana Restaurants International PLC - Foreign Company announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 8,237,816 | 9,049,253 | -8.97 | ||
| Gross Profit (Loss) | 4,377,728 | 4,730,846 | -7.46 | ||
| Operational Profit (Loss) | 719,280 | 1,091,528 | -34.1 | ||
| Net profit (Loss) | 595,346 | 972,998 | -38.81 | ||
| Total Comprehensive Income | 561,986 | 972,836 | -42.23 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,479,143 | 1,647,623 | -10.22 | ||
| Profit (Loss) per Share | 0.07 | 0.12 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenue decreased by 9.0%, impacted by reduced like-for-like sales due to the regional geopolitical situation and weaker consumer demand in some markets, along with unfavorable foreign exchange movements. The Company registered a sequential recovery throughout the year, bolstered by strategic initiatives aimed at elevating consumer engagement through product innovation, targeted promotional activities, digital assets expansion for driving experience and convenience and strengthening community engagement. In Q4 2024, the Company achieved 14.1% year-on-year growth in revenue and 26.3% year-on-year growth in net income attributable to parent shareholders, respectively, reflecting continued progress in its business recovery. Excluding the SAR14.3 million ($3.8 million) one-off charge in Q4 2023 and SAR47.4 million ($12.6 million) impairment charges in Q4 2024, net income increased 47.6% year-on-year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit (attributable to shareholders of the Parent Company) decreased by 38.8%, impacted by lower adjusted EBITDA, increased depreciation charges on account of new store openings and corporate tax implementation in the UAE. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | Restaurant Portfolio Americana Restaurants expanded its regional footprint by adding 213 gross new stores in 2024, bringing its total restaurant count to 2,590 as of 31 December 2024. Sustained Financial Stability Americana Restaurants maintains a robust balance sheet, with zero leverage and a solid cash position, reflecting prudent financial management and operational efficiency. In 2024, the Company reported adjusted Free Cash Flow of SAR355.7 million ($94.8 million) and a cash conversion rate of 34.8%. Management Outlook Looking ahead, the Company expects continued recovery, driven by the positive momentum seen in Q4 2024. The focus will remain on recovering transactions and growing the average check. Committed to strategic expansion and deeper market penetration, the company plans to strengthen its market presence. Additionally, Americana Restaurants will drive product innovation to evolve its core offerings and target new day parts, alongside a continued focus on digital leadership. Given the evolving tax landscape, profitability is anticipated to be impacted by the introduction of corporate tax in key markets. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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