Out-of-home dining and quick service restaurant (QSR) operator Americana Restaurants reported 2023 revenues of $2.4 billion, up 1.5% year-on-year, driven by the opening of 300 new stores.
Despite a $106.0 million impact from adverse foreign exchange rates and regional geopolitical tensions affecting Q4 performance, adjusted EBITDA grew to $550.8 million, with a margin of 22.8%, the company said in a statement.
Net profit attributable to shareholders increased by 0.1% to 10.8% margin, despite higher depreciation charges of $32.8 million due to new store openings. $167.9 million was allocated for capital expenditures, leading to a total store count of 2,435 by the end of 2023.
The Board declared a 2023 ordinary dividend of $130 million ($0.0154 per share) and a one-time special dividend of $50 million ($0.0059 per share), pending shareholder approval.
The company launched Peet’s Coffee in the region by opening stores in the UAE and Saudi Arabia. Its portfolio includes a range of iconic global brands, including KFC, Pizza Hut, Hardee’s, Krispy Kreme, Peet’s Coffee, Wimpy, TGI Friday’s, Costa Coffee and Baskin Robbins.
