Sfinks: PLN 42.7 million revenue in the 1st quarter of 2015

Friday, May 15, 2015 - 16:01

Sfinks Polska, owner of the Sphinx, Chłopskie Jadło and WOOK restaurant chains, generated in the 1st quarter of 2015 the unit sales revenues of PLN 42.7 million, which means an increase by PLN 3.9 million compared to the corresponding period of 2014. At the same time, the company increased its gross profit on sales by 47% - from PLN 5.8 million in the 1st quarter of 2014 to PLN 8.5 million in the corresponding period of 2015. Again, Sfinks also generated the unit net profit of PLN 1.1 million for January-March 2015, while the 1st quarter of 2014 still ended with a loss of PLN 33 thousand. Also the company’s EBITDA was doubled and amounted to PLN 6.3 million in the first quarter of 2015 compared to PLN 3.2 million generated a year before.

The changes that took place at our restaurants, pertaining to the menu, quality of service, and organization of individual outlets, are now yielding the expected effects in terms of both the financial results and the customers’ favorable opinions. During the first three months of 2015, the company’s result on operating activities was improved significantly – to over four times the last year’s corresponding figure – with a similar number of restaurants. The result reached PLN 4.2 million, while it amounted to a mere PLN 0.9 million in the 1st quarter of 2014. Also the recent customer surveys are optimistic: they show that our customers appreciate our quality of service and extensive menu, which contributes to their more frequent visits at our restaurants. Having stabilized the business, we will now aim at a further development of our chains and open further restaurants as assumed in our strategy, says Sylwester Cacek, the President of Sfinks Polska.

During the first three months of 2015, Sfinks Polska opened two Sphinx restaurants – in Kołobrzeg on the sea cost and in Błękitny Wieżowiec in Warsaw. Further, launched in the second quarter was a Sphinx restaurant in the Main Square in Kraków. By the end of the first half-year, its is planned to open restaurants under the Sphinx brand e.g. in Malbork, Jastarnia, Lublin and Wrocław, as well as a Chłopskie Jadło restaurant in Poznań. Besides, the company has already concluded contracts for further restaurants scheduled for opening during the next quarters.

Aiming to increase sales, Sfinks consistently extends its menu with new seasonal inserts and promotions. During the 1st quarter of 2015, two each such inserts were launched in Sphinx and Chłopskie Jadło restaurants. With the regular customers in mind, a new marketing and customer reward scheme was launched under the Q Agents slogans, within which the customers can share their opinions and win awards. Sfinks is also developing a new coffee menu with a variety of flavors.

From January to March 2015, the Sfinks Polska group also improved its results at the consolidated level. In that period, the sales revenues amounted to PLN 43.6 million compared to PLN 41.2 million generated a year before. If the franchised restaurants excluded from consolidation are taken into account, the sales reached PLN 46.7 million (compared to PLN 44.3 million in the 1st quarter of 2014). Besides, during the first three months of 2015, the Sfinks group generated the net result of PLN 1 million (compared to PLN 0.7 million in the first quarter of 2014) and the consolidated EBITDA of PLN 6.1 million (compared to PLN 4 million in the first quarter of 2014).

Fri, 2015-05-15