Sfinks brought 7,2 m. zlotys of gross profit from sales

Tuesday, November 15, 2011 - 10:30

Sfinks Polska reached the consolidated income from the sales of 128 m. zlotys from January to September 2011, which means the increase by around 8% compared to the previous year. Three first quarters of this year brought 7,2 m. zlotys of gross profit from sales, the company lost 1,2 m. zlotys in the analogous period in 2010. What is more, after three quarters of this year, Sfinks may be proud of the positive consolidated EBITDA result of 4,1 m. zlotys compared to -6,9 m. zlotys in the previous year. The considerable improvement in the reported period was achieved in the case of other crucial financial categories – operating result (by 77%) and net result (by 60%). Regular improvement of Sfinks Polska results confirms the strengthening sales uptrend in the restaurants. Also, it shows a growing profitability of the group

From January to September, 2011 the highest income increase was gained by WOOK which specializes in Asian cuisine. WOOK’s turnover dynamics was 15,7%, whereas Sphinx chain increased after three quarters of this year by 8,1%. Higher and higher turnovers in the restaurants combined with a growing effectiveness of the chains translate into further improvement of Sfinks Polska profitability. The best example illustrating this fact is EBITDA index which in the reported period was improved by 11 m. zloty compared to the analogous period of 2010. What is more, Sfinks Polska improved consolidated operating result by 14,6 m. zloty (-4,3 m. zlotys in the end of September this year compared to -18,9 m. zlotys after three quarters in 2010). The significant improvement concerns also the net result for nine months of this year. Net loss of the group of this period was reduced by 14,3 m. zlotys (-9,9 m. zlotys in the end of September this year compared to -24,2 m. zlotys after three quarters in 2010).

- System changes implemented in the previous year in Sfinks group, cost takeout plan, and improvement of the group’s effectiveness, carried out with an unrelenting consistency, have brought good results. Thanks to that, in each quarter of this year we registered positive dynamics of incomes paralel to the improvement of profitability noticeable especially at a level of gross profit on sales and EBITDA. Third quarter of a year is profitable as usual for culinary selling, yet better and better cost structure of the group, change of the restaurants management model, and further improvement of a central supply – these were factors which have contributed to our results. The factors which determine the improvement stability of Sfinks financial situation and they allow the company to expect the continuation of this trend in the next quarter. That is why, further determination in the accomplishment of this strategy supplemented by the investments in our chains, both in Sphinx, WOOK, and Chłopskie Jadło, is our plan for the next months – comments Sylwester Cacek, the Chairman of Sfinks Polska.

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Tue, 2011-11-15