In 2018, Sphera recorded an increase in sales of 24.6%, increase in EBITDA of 13.2% and an increase in net income of 4.5% (vs pro forma 2017).
As Sphera published their 2018 preliminary results, we are bringing you some key takes from the report. According to it, in 2018, the Group recorded sales of RON 771.2m, which represents an increase of 34.5% YoY. The rise in sales could mostly be attributed to a growth in the sales of USFN Romania (KFC restaurants) whose contribution to the growth was 18.1p.p. ARS follows, with a contribution of 9.8p.p. to the sales growth. Note that, compared to the 2017 pro forma statement, sales increased by 24.6% (as the pro forma statement includes the full year performance of ARS in 2018).
Sphera Sales (2015 – 2018) (RON m)
When observing the Group’s expenses, they increased by 39%, amounting to RON 668m. Such an increase could be mainly attributed to a rise in food and material expenses by RON 68.8m and an increase in payroll and employee benefits by RON 52m. Both accounted for 25 p.p. of the increase in expenses.
In 2018, Sphera recorded an EBITDA of RON 62.3m which is a 21.2% increase. Note that such an increase could also be attributed to a rise in depreciation and amortization of RON 6.5m (+46.7%). C
When observing the Group’s net income, it reached RON 34m, which represents an increase of 8.3%, while compared to the 2017 pro forma statement, it increased 4.5%