AmRest revenues dropped initially by 7.8% y / y to EUR 380 million in Q1 2021.

by   CIJ News iDesk III
2021-04-30   10:00

Revenues of the AmRest Group amounted to EUR 380 million in Q1 2021, which means a decrease of 7.8% per annum, the company said, presenting preliminary data.

Due to the emergence of the 'third wave' of COVID-19 and stringent restrictions introduced on most European markets from the end of 2020 to mid-March 2021, no significant changes were observed in terms of restrictions on restaurant operations. number of customers, and the local authorities only allowed the sale of take-away, home delivery or drive-through meals. The share of open restaurants in AmRest's portfolio remained stable and amounted to approximately 93% at the end of March, compared to 92 % at the end of the previous quarter.

The comparable sales ratio in restaurants, excluding the impact of changes in exchange rates and the results of temporarily closed premises, calculated for the first quarter of 2021 in relation to the data for the first quarter of 2019, reached 83.1%. For comparison, in the fourth quarter of 2020, the ratio was 78.8%.

Initial sales generated on the markets of Central and Eastern Europe amounted to EUR 163.8 million in Q1 2021, which is a decrease of 10% y / y.

The revenues of the Russian division amounted to EUR 37.7 million in Q1 2021 and were 23.1% lower than in the previous year.

Sales of the Western Europe division in Q1 2021 amounted to EUR 150.8 million and was 8.6% lower than in the previous year, according to the report from AmRest.

Revenues on the Chinese market in Q1 2021 reached EUR 21.3 million and were 116.4% higher than in the corresponding period in 2020. The negative impact of the COVID-19 pandemic began on this market in mid-January 2020. , the comparison with last year is therefore not adequate in this case.

AmRest Holdings SE is the largest independent restaurant chain operator in Central and Eastern Europe. The company is also developing activities in, among others Western Europe, Russia and China. The company has been listed on the WSE since 2005. Initial sales for 2020 amounted to EUR 1,522.9 million and was 22.4% lower than in 2019.

Source: ISBnews and AmRest