The company also forecast in this period increase in net profit to 30.2 million zł. At the same time in 2016. Sphinx intends to reduce the debt to EBITDA ratio to 3.1, and note the positive equity. The Company estimates that for the four quarters of this year. its unit revenue will increase by 16.6% y / y to reach 164.6 million zł value and the net result – in view of the expected release of provisions – will amount to 13.8 million zł. Sphinx Strategy also provides the ability to deliver the company’s acquisition of the network with a strong recognizable brand of fast casual dining segment, pizzerias and cafes and the launch of the network masterfranczyzy Sphinx at least 3 countries.
– The situation in the company was already so ordered, new standards and activities developed in many areas with proven performance that evaluate our business as predictable and prepared for further growth. So we decided to provide detailed assumptions about the evolution of our business over the years – says Sylwester Cacek, CEO of Sphinx Poland SA.
Sphinx wants to double the sale
– Carried out by our strategy is to double the sales of 2013, over the next six years, and particularly dynamic sales growth assumed in 2015-2016, when the plan to open at least 30 restaurants. This is due to the fact that we have signed contracts for the launch of several units in very good points in this period, and more are in advanced negotiations. We want to take advantage of the good for the tenants in the market in order to reap the harvest in the coming years. We do not exclude, however, that in connection with this we will need additional funds for investment. This relates in particular to the emergence of a chance to run more restaurants. We have identified opportunities and began talks aimed at increasing the investment potential without raising capital. In the end we decide on the issuance of shares or convertible bonds. We assume, however, that part of the investment will implement only those projects that will provide us with a return at least 30% R 11; Sylwester Cacek added.
Sphinx to be the engine of growth
According to the guidelines of the new engine of development strategy of the company to be operating in restaurants Sphinx and franchise operator model. The Company intends to generate EBITDA of the restaurant at least 20% of revenue for the restaurant, and 7% of their income on franchise restaurants. For the concept of the Sphinx will also be implemented masterfranczyzy model that the period of the strategy should be operational in three foreign markets. Sphinx also envisages further development of Peasant food restaurants and WOOK to achieve the status of these networks by the second and third largest dinnig casual restaurant chains in Poland. At the same time the Sphinx will work on a plan to attract investors for these networks.
– The Sphinx is the biggest chain catering to the casual dining segment and, as confirmed by a recent study, the strongest Polish brand catering. This is currently our strategic asset generating the highest growth and highest profitability, because inevitably, most of our attention is focused on the development of precisely this network. This is the most correct way and we want to continue it. At the same time, our other concepts – Peasant Food and WOOK – also have a high potential for growth. We do not exclude that these two networks will develop in the context of separate entities with dedicated teams that will focus exclusively on those brands Already decisions were made that all the restaurants WOOK will be forwarded to the company’s Shanghai Express, and in the future Peasant food restaurants could be made to a separate entity. We also intend to work on recruiting investors for the network – Sylwester Cacek explained.
Sphinx planned acquisitions
One of the strategic goals of the Sphinx in the coming years in the development of the network is also necessary to make the acquisition of a network of fast casual dining segment, pizzerias and cafes. The acquisition may be implemented in order to create a second next to the restaurant Sphinx strategic network if you purchased entity will stand a strong brand, long reach and potential for expansion abroad. Sphinx is also considering making acquisitions network catering to their development or restructuring, and then resell the appropriate rate of return.
– We constantly monitor the market, we are also many conversations. Surely every proposal we will consider the terms of its real impact not only on income but also on the profitability of the company. We believe that the Sphinx in Poland has a unique competence in the development of the network, which combined with the barriers to entry for foreign entities gives us the opportunity to generate additional profits. We expect that in the future large catering chains from abroad are interested in expanding their business of our country, in which case it is always preferable to make acquisitions than building a network from scratch. We have much to gain if we have the perspective of their valuable assets for sale – selects the president of the Sphinx.
The forecasts presented by the Sphinx Poland in the strategy for the years 2015-2020 exclude the results and franchise restaurants operating under masterfranczyzy, the effect of acquisitions of other networks, the development of e-commerce sales and catering, as well as the development of management companies WOOK restaurants and Peasant Food. The forecasts do not take into account also the issue of the recapitalization of the company, which may be necessary in the absence of the possibility of obtaining external financing on attaining the investment projects. While forecasts take into account the impact on the results of one-off events resulting from the past, as the reversal of provisions for trademark Peasant Food, the creation of deferred tax assets associated with losses from previous years, the valuation of the shares of Shanghai Express.
This press release, abo
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