Mex Polska S.A., a restaurant holding company listed on the Warsaw Stock Exchange (WSE) Main Market, expects to achieve consolidated sales revenues of PLN 56.5 million in the first half of 2025, representing a 15% year-on-year increase. At the same time, due to costs incurred on the so-called path to breakeven—linked to the opening of new restaurants in 2024 and H1 2025—and the impact of exceptionally unfavorable weather conditions this spring that reduced customer turnout, particularly in venues with outdoor seating, the Group estimates a net loss of PLN 0.8 million for the reporting period. The result was further shaped by one-off events, including the liquidation of a subsidiary and the accounting effects of IFRS 16.
Unpredictable Weather Hits Gastronomy and FMCG
The first half of 2025, and especially spring, proved exceptionally unfavorable for the Polish restaurant sector and the FMCG market. May was the coldest in 34 years. These conditions had a particularly negative impact on the sales of cold beverages and ice cream. Other spring months were also challenging. Data from the Polish Chamber of Commerce and CMR show significant declines in weather-sensitive categories: impulse ice cream (-16% y/y, and as much as -40% in small-format stores), beer (-9% y/y; -18% in small stores), and water (-20% y/y; -24% in small stores). Small-format outlets also reported decreases in sales value (-2.7% y/y) and the number of transactions (-12% y/y). Negative trends extended to other categories as well, including wine, spirits, whisky, cider, and ready-to-drink cocktails.
Expansion Continues Despite Challenges
Despite these headwinds, Mex Polska Group opened four new locations in the first half of 2025: The Mexican in Wrocław, Prosty Temat in Kraków, Chicas & Gorillas in Warsaw, and PIZZANOVA in Kraków. In July and August, two additional venues were launched—Pijalnia Wódki i Piwa in Zamość and Jarosław. Completing six openings within eight months allowed the Group to fulfill its annual expansion plan, demonstrating both the effectiveness of its business model and operational discipline.
The costs associated with these openings, combined with unfavorable weather and lower customer turnout, weighed on the reported net result, with the restaurant concepts most affected.
“The restaurant industry is particularly sensitive to unpredictable weather. The unusually cold spring, especially the record-low temperatures in May and early June, limited footfall in our venues during the spring season. This translated into lower sales and a weaker net result, particularly for restaurants with outdoor seating. Currently, the situation is gradually stabilizing, and the return of consumers to standard visitation levels, along with seasonal improvements in demand, should positively influence results in the coming quarters,” said Paweł Kowalewski, CEO of Mex Polska S.A.
According to the Management Board, short-term challenges do not change the Group’s long-term outlook. A stable business model, attractive locations, and consistent execution of the expansion plan provide solid foundations for further revenue growth and profitability improvement in the medium and long term.
“Despite the difficulties in the first half of the year, we achieved significant revenue growth and fully executed our 2025 expansion plan. New openings, while generating short-term losses, increase the scale of operations and revenue potential. With proper process optimization, this should allow us to return to profitability growth. We are confident these effects will become visible in the near future,” summarized Dariusz Kowalik, Management Board Member and CFO of Mex Polska S.A.
Strategic Outlook
Mex Polska Group continues to implement its strategy for 2024–2028, which assumes the annual opening of six new venues, the development of new concepts, and the strengthening of existing brands. The Group currently manages nearly 60 popular restaurants, systematically contributing to revenue growth and shareholder value. More details will be presented to investors and the media at the earnings meeting scheduled for September 25 at 11:00 a.m. at Nowogrodzka 27 in Warsaw.
Source: ManagerPlus.pl
