News

Kotipizza turns in solid Q3 with sale pending

December 19, 2018

On the cusp of its potential sale to Orkla ASA, Kotipizza Group turned in a relatively solid Q3 performance with comp net sales up 16 percent, while EBITDA increased 2 percent year over year.

For the quarter ending Oct. 31, 2018, the company reported these additional results:

• 17.7 percent growth in chain-based net sales.
• 15.6 percent net sales growth to 25.3 million euros. 
• 1.57 million (euros) earnings before interest and taxes.
• 17.1 percent chain-based net sales.
• 14.5 percent comparable net sales growth to 67.4 million euros.
• 10.2 percent comparable EBITDA to 7.13 million euros.
• 14.3 percent net sales growth to 71.1 million euros.

"Kotipizza's chain-based net sales continued their good growth in the third quarter of the financial year," Kotipizza Group CEO Tommi  Tervanen said in the release. "The chain's net sales presented excellent development in terms of both same-store sales and average purchase. 

The Group estimates that for the full fiscal year that started Feb. 1, 2018, it will reach 120 million (euros) for total restaurant chain sales, while comparable EBITDA will increase as compared to previous year, though comparable EBITDA does not include costs related to the recommended public cash tender offer made by Orkla ASA.

Sales in the Social Burgerjoint chain increased 296.4 percent, compared to the previous year. Average purchase in the chain's restaurants grew 6.0 percent compared to the same period in the previous year, and the number of customers per restaurant remained at previous year's level. The total chain sales of Social Burgerjoint were boosted by two new brick-and-mortar restaurants opened in Helsinki.