Americana Restaurants announces FY 2022 financial results, net income up 27.1%

Americana Restaurants announces FY 2022 financial results, net income up 27.1%

ABU DHABI - Americana Restaurants International and its subsidiaries today announced its financial results for the twelve-months ended 31st December 2022.

In its first announcement of financial results since its historic concurrent dual listing on the Abu Dhabi Securities Exchange (ADX) and the Saudi Stock Exchange (Tadawul), Americana Restaurants maintained strong growth momentum in 2022 with annual revenue of $2.38 billion, increasing by 15.9% year-on-year.

Mohamed Ali Rashed Alabbar, Chairman of Americana Restaurants, said, “Americana Restaurants elevated its global presence as a publicly listed company, in readiness for its next chapter as one of the most profitable, growth-oriented and diversified F&B operators. The MENA region remains uniquely attractive for out-of-home dining, with strong macroeconomic tailwinds, a growing youth population and soaring urbanisation. These dynamics, coupled with the cultural internationalism of our target markets, provide our business with a springboard for growth across MENA and Kazakhstan.”

Top-line growth was driven by robust like-for-like sales growth of 13.6% and 220 gross new store openings. The Company generated Adjusted EBITDA of $536 million, increasing by 15.4% vs 2021, and a healthy EBITDA margin of 22.5%.

Net income (attributable to shareholders of the Parent Company) grew to $259.2 million in 2022, up 27.1%, resulting in a net income