Sfinks Polska reports 6.6% revenue growth in Q3 2024, reaching PLN 54.8 million

Sfinks Polska Group, one of Poland’s leading casual dining chains, recorded PLN 54.8 million in revenues from catering sales in the third quarter of 2024, marking a 6.6% year-on-year increase. From January to September 2024, the group’s cumulative catering sales reached PLN 154.3 million, reflecting a 9.2% rise compared to the same period last year.

“The summer season, traditionally a strong period for the restaurant industry, paid off for us again this year,” said Sylwester Cacek, President of Sfinks Polska. He highlighted new restaurant openings, such as the Sphinx in Rzeszów and two locations, The Burgers and Sphinx in Poznań, which contributed to the company’s growth. “We expect their full sales potential to be realized in the fourth quarter,” Cacek added.

However, he noted that September fell slightly short of expectations due to unfavorable weather and the temporary closure of several restaurants for reasons beyond the company’s control. Despite these challenges, the company’s catering network continued to generate higher revenues, both for the third quarter and the year-to-date.

Sales from comparable premises, operating at the end of each month in both the current and previous year’s third quarter, amounted to PLN 51.02 million, a 5.8% increase compared to PLN 48.23 million in Q3 2023. From January to September 2024, sales at these comparable premises reached PLN 143.41 million, up 8.8% year-on-year.

Sfinks Polska’s restaurant portfolio includes both owned and franchised locations, with a total of 76 outlets operating under various brands, excluding the Piwiarnia network, at the end of Q3 2024. Franchisees pay a fee based on sales generated at franchised restaurants, while sales from company-owned locations contribute directly to the group’s revenues.

Sfinks Polska remains the largest casual dining chain in Poland by sales volume and number of restaurants. It is also ranked as the third-largest restaurant chain in the country by revenue. The company has been listed on the Warsaw Stock Exchange (WSE) since 2006.

Source: Sfinks Polska and ISBnews