21:13 28 September 2020
Gastronomic giant records enormous losses
Dutch company AmRest, owner of, among others KFC, Burger King, Pizza Hut or Starbucks recorded a huge loss of over €160 million in the first half of the year. The owner of popular cafes and fast-food chains is one of the most affected by the pandemic – this consolidated net loss can be compared to a profit of €10.4 million a year earlier.
Sales revenue amounted to €684 million, down by 26 percent on an annual basis.
The second quarter, in which AmRest recorded a net loss of €119 million, compared to a profit of €6.7 million a year earlier, turned out to be truly disastrous for the catering holding. Consolidated sales revenues reached €272 million, almost 44 percent less than a year ago.
The group's revenues in Central and Eastern Europe amounted to €315 million in the first half of the year, which means a decrease of 19 percent on an annual basis. Sales in Western Europe (i.e. in Germany) reached the level of €257 million, which means a decrease by 33 percent compared to last year. In China AmRest recorded a 34 percent decrease in sales.to €29.1 million.
