Mex Polska, a holding company listed on the Warsaw Stock Exchange, expects to achieve over PLN 49 million in consolidated sales revenue at the end of the first half of the year, which represents an increase of over 10 percent year-on-year. Operating profit (EBIT) is expected to remain stable at almost PLN 2.5 million. The Group’s net profit is expected to be around PLN 1.3 million, however, the application of IFRS16 had a significant negative impact on this figure. Without considering this factor, net profit would have been PLN 1.9 million and would have increased by over 22 percent from 2023. Recently, the Company opened three new premises in the Bielak Passage in Krakow, and this is not the end of the portfolio expansion for this year. By the end of the year, at least three more new company-owned premises are planned to be launched, including in Krakow and Katowice. In line with ambitious assumptions, the Management Board is working on updating the development plans, details of which are expected to be presented soon.
“The first half of the year was very intense and filled with development for us, which translated into increased revenues and the stabilization of operating profits. Despite the negative impact of new major lease contracts and IFRS16, our financial results confirm that the Group continues to generate profits and grow in line with the plan. After adjusting for IFRS 16, net profit and EBIT would in reality have increased by roughly a solid 20 percent. Our goal is to maintain this pace; we are currently working on updating the key assumptions of the development plans, which will soon be presented to our shareholders,” reports Dariusz Kowalik, Member of the Management Board and Financial Director at Mex Polska.
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Mex Polska is consistently developing its business by simultaneously developing several independent and profitable gastronomic concepts. The latest brand of the Group is the Mexican street food brand Spoko Taco, whose first outlet is located in the iconic Bielak Passage.
This is not the end of the openings for this year. By the end of the year, the opening of at least 3 new company-owned premises: two in Katowice and one more in Krakow – in the mentioned Bielak Passage – are planned. The Group already has a total of 3 premises in this location under 3 different concepts and is not afraid of cannibalizing demand, based on the potential of the prestigious location and the known consumer profile.
The final financial results of the Group for the first half of 2024 will be published on September 25. On this occasion, a results meeting is planned. “I would like to invite everyone to the post-results conference which we plan for September 26; we will announce the exact time and place of the meeting on our social media channels. During the conference, we should also be able to discuss our assumptions related to the update of the development plans we are currently working on,” says Paweł Kowalewski.
Source: https://managerplus.pl/mex-polska-prognozuje-wzrost-przychodow-o-ponad-10-w-i-polroczu-2024-zysk-netto-na-poziomie-13-mln-zl-84936
