Mex Polska is counting on a further increase in revenues, increase the number of units to over 55

Mex Polska hopes that revenues this year will continue to increase, among others, thanks to the improvement of consumer sentiment and the growth of the catering market and announces an increase in the number of catering establishments to over 55 at the end of this year, according to the statements of the company's representatives. Mex Polska is able to open more than 10 units per year in subsequent years and does not exclude the addition of a new concept to the existing five.

"At the moment, the number of Mex Polska premises reaches 48 against, and at the end of 2023 it was approx. 46. In 2023. The Group has launched 6 new premises: 3 as part of the Drinking Vodka and Beer and 3 under the Chicas&Gorillas banner, while the growth potential in the coming months is expected to launch 6 more restaurants, which is related to the continuation of expansion in cities, i.e. Katowice, Kraków, Nowy Sącz and Zamość. By the end of 2024, we expect to exceed 55 premises," said President Paweł Kowalewski during a press conference.

“The catering market in Poland regained its value before the pandemic and in 2023 it reached PLN 31.3 billion, which reflects consumer sentiment. Poles can afford to use catering services, i.e. there will be an increase in consumption, and this is supported by wage dynamics. Wage increases mean that consumers can afford to go to a restaurant, and there is also some consumer tolerance for price increases. It is possible to grow the gastro market several percent in 2024 due to inflation and I think that we will be dealing with the development of this market and the increase in the number of premises on the market, but it must be admitted that on the other hand, there are also threats - the prospect of price growth, the lack of adequate staff on the market and pressure on wages, i.e. an increase in costs. However, there are no threats in demand, and this is the most important element of the market. In the long term, the catering industry has a chance for further dynamic development," he added.

The President also said that Mex Polska is able to open more than 10 units a year and does not exclude the addition of a new concept to the current 5.

“We are able to open up such a pace as 10 and more, but it will depend on the situation. We also do not rule out a new concept in the future, because we have shown in recent years that we have made five from one concept," said the president.

"Our financial situation allows us to conduct investments from our own funds, but we do not exclude any additional credit, and 2023 this was a year of preparations for us to accelerate with openings," added Dariusz Kowalik, Member of the Management Board and Director of Financial Affairs.

"When it comes to the increase in VAT on food from April 1, we have some hopes, because the food in stores will be more expensive, and in VAT restaurants has not increased," added Kowalik.

The President also signaled the continuation of dividend payments after the Management Board recently recommended the allocation of PLN 2.07 million for the payment of dividends, i.e. PLN 0.27 / share.

Mex Polska was developed in 2023. PLN 95.4 million of consolidated sales revenues, which is an increase of 16.6% compared to 2022. This is the highest revenue in the company’s almost 25-year history. In the fourth quarter alone. 2023 consolidated sales revenues amounted to PLN 22 million, it was reported. The Group’s equity capital at the end of 2023 amounted to PLN 16.6 million, and the cash amounted to almost PLN 7.6 million.

Mex Polska Group manages catering establishments, develops brands: The Mexican, Simple Subject, Pankejk, Pijalnia Wódki and Beer, Chicas & Gorillas. Since 2012, the company has been listed on the main market of the WSE.

Source: Mex Polska and ISBnews