Sfinks's earnings before interest, taxes, depreciation, and amortization (EBITDA) at PLN 15.8 million and its net profit at PLN 4.3 million after Q3 2015

“We develop our restaurants in a stable manner what can be seen in the improving financial results. At the same time we are working on the most effective offer and openings of new restaurants. Increasing the scale of our activities is strictly related to clarifying the issue of funding of the new premises. Raising a credit at BOŚ will enable us to pay all our debts at PKO BP and ING Bank Śląski which will end the period of financial restructuring of our company, and the 7-year period of crediting will allow us to safely plan openings in the coming months and years,” says Sylwester Cacek, President of the Management Board of Sfinks Polska S.A.

 

From the beginning of 2015 Sfinks opened 11 restaurants managed by operatives and 2 franchise-based restaurants. New Sphinx restaurants were created in large agglomerations – in Warsaw, Kraków, Lublin and Bydgoszcz – as well as in smaller cities, i.e. in Kołobrzeg, Malbork, Jastarnia, Szczecinek and Stargard Szczeciński. And the largest Chłopskie Jadło restaurant was opened in Poznań. The company already signed contracts regarding a dozen of new restaurants and before the end of this year openings of restaurants in, i.a. Wrocław, Białogard, Gniezno or Gryfice, are planned.

In the nine months of this year Sfinks noted an improvement in the consolidated results. The group's sales revenues amounted to PLN 132.9 million after three quarters of this year, as compared to PLN 126.8 million reached in the analogical period of the previous year. From January to September of this year Sfinks reached the consolidated net profit of PLN 3.4 million (PLN 2.2 million after three quarters of 2014) and the consolidated EBITDA of PLN 15.1 million (PLN 11.6 million after three quarters of 2014).