Americana Restaurants reports US$2.2B revenue in 2024, down 9% amid market challenges

MENA – Americana Restaurants International PLC, the leading out-of-home dining and quick service restaurant operator in MENA and Kazakhstan, has announced its financial results for 2024, reporting US$2.20 billion in revenue, a 9% decline from the previous year due to evolving market conditions.

Topline growth faced challenges despite the support of new store openings, as geopolitical tensions, subdued consumer demand in certain markets, and unfavorable foreign exchange movements affected like-for-like sales.

Throughout the year, the company saw a gradual recovery, driven by strategies aimed at enhancing consumer engagement.

These included product innovation, focused promotional efforts, expansion of digital assets for convenience, and strengthening community connections.

In Q4 2024, revenue increased by 14.1% year-on-year, while net income attributable to parent shareholders rose by 26.3%, demonstrating ongoing business recovery.

Excluding a US$3.8 million one-time charge in Q4 2023 and US$12.6 million in impairment charges in Q4 2024, net income recorded a 47.6% year-on-year growth.

Store expansion continued, with 213 new openings, signaling confidence in long-term market prospects.

Gross profit margins remained stable, benefiting from favorable commodity prices and strategic procurement and revenue management, even as value-focused promotions were introduced to boost transactions.

Americana Restaurants reported an adjusted EBITDA of \$484.3 million for the year, achieving a 22% margin. However, adjusted EBITDA declined by 12.1% compared to 2023 due to revenue declines and rising home delivery costs, driven by an increased share of home delivery in the sales mix.

Net profit attributable to parent company shareholders stood at US$158.8 million for the year, marking a 38.8% decline from the previous year.

This was influenced by lower adjusted EBITDA, higher depreciation costs from new store openings, and the introduction of corporate tax in the UAE.

Capital expenditure amounted to US$115.3 million, equivalent to 5.2% of total revenue, funding the opening of 213 new restaurants. By the end of 2024, the company operated 2,590 stores across 12 markets.

In January 2025, the company expanded its presence in Oman by acquiring Pizza Hut outlets from the Khimji Ramdas Group.

The addition of 46 locations increased its regional Pizza Hut network to 456 stores, further strengthening its leadership in the pizza segment.

Looking forward, the company expects continued recovery, driven by the positive trajectory in Q4 2024. Plans remain focused on increasing transaction volumes, improving average check size, expanding strategically, and deepening market penetration.

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