Rosinter Reports 3M 2013 Unaudited Financial Results
OREANDA-NEWS. REVENUE AMOUNTED TO RUB 2,568 MLN EBITDA margin before impairment and write-offs at 5.9%
EBITDA at 4.8%
OJSC Rosinter Restaurants Holding (Rosinter), the leading casual dining restaurants chain in Russia and
CIS (Moscow Exchange MICEX-RTS ticker: ROST), announced its financial results for 3M 2013
prepared in accordance with IFRS.
3M 2013 HIGHLIGHTS
• Same store portfolio gross revenue increased in 3M 2013 by 0.3%. The same store transactions decline slowed to (1.5)% in 3M 2013 compared to (5.1)% for the 3M 2012 showing some green shoots of recovery.
• Consolidated net revenue stood at RUB 2,568 mln and is flat compared with 3M 2012.
• Operating profit before impairment amounted to RUB 48 mln for an operating margin before impairment of 1.9% compared with a margin of 2.8% in 3M 2012.
• EBITDA before impairment and write-offs amounted to RUB 151 mln for a margin of 5.9% compared with a margin of 7.0% in 3M 2012.
• EBITDA amounted to RUB 124 mln and EBITDA margin stood at 4.8% compared with a margin of 6.4% in 3M 2012.
• Net loss amounted to RUB 26 mln and net loss margin stood at (1.0)% compared with a net loss margin of (1.4)% in 3M 2012.
• As at March 31, 2013 gross debt was RUB 1,251 mln, including RUB 532 mln long-term debt which represented 42.5% of total gross debt.
• Net debt decreased by 4% to RUB 904 mln, leading to a Net debt/EBITDA of 2.5x as at March 31, 2013 in comparison with 2.3x as at December 31, 2012.
Kevin Todd, President and Chief Executive Officer, commented:
“During 1 quarter 2013 our key focus has been transactions and SSSG improvement. We introduced new menus for IL Patio and Planet Sushi which was followed in 2nd quarter 2013 by launching the new seasonal offers of our core brands supported by digital and local advertising campaigns.
Revitalization continues with two IL Patio pilot stores now trading. In addition our first Planet Sushi pilot store will open in 3 quarter 2013. We have excellent progress in Transportation Hubs business development which was recently announced and which expands our foodservice operation to five Moscow railway stations and one more airport in Moscow, Domodedovo.
Our strategy of exiting unprofitable brands and restaurants is on plan and the loss of revenue will be well offset by the build-up and flow-through from the above initiatives. ”
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