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Sfinks with PLN 2.7 million net profit in Q4 2023

COMPANIESSfinks with PLN 2.7 million net profit in Q4 2023

Sfinks Polska, the company managing the SPHINX, Chłopskie Jadło, The Burgers, and Piwiarnia networks, earned revenues of 24.2 million PLN, gross sales profit of 7.2 million PLN, and a net profit of 2.7 million PLN in the fourth quarter of 2003, according to preliminary financial results released by the company. This means that in 2023, Sfinks generated revenues of 98.1 million PLN at the unit level with a gross sales profit of 28.3 million PLN. According to preliminary data, the company recorded a net result of -0.7 million PLN in 2023.

“Current macroeconomic trends are having a positive impact on our situation. The strengthening of the złoty in the last quarter compared to the end of the third quarter of 2023 resulted in significant changes in the valuation of our lease obligations and receivables, which contributed to the net result of 1.9 million PLN. We hope this is a good omen and that after many challenging years for gastronomy, the coming months and years will bring more stable conditions in which we can implement our planned growth path. The preliminary results for the fourth quarter of 2023 also include the positive impact of changes in the lease conditions of some premises and subleasing them to franchisees in the amount of 2.4 million PLN,” says Sylwester Cacek, CEO of Sfinks Polska. “Preliminary data confirm that systematic work on organizing our networks and converting additional premises to the franchise model positively affects our results. This is an important part of our growth strategy adopted last fall, which we intend to implement consistently,” adds the Sfinks CEO.

The presented results are preliminary and will be subject to audit by an auditing company.

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