AmRest –Employer of Choice!
Sales revenues in the fourth quarter: 38,3% increase!
The preliminary sales revenues generated by the AmRest Group in the fourth quarter of 2007 amounted to PLN 251.7 million, what is the 38.3% increase compared with the corresponding period of 2006. In the fourth quarter of 2006 the sales revenues reached PLN 182.0 million.
In view of the above the preliminary 2007 total sales revenues amounted to PLN 853.4 million and increased by 35.6% compared with 2006. In 2006 the sales revenues reached PLN 629.3 million.
AmRest is one of the fastest growing restaurant operators in Europe. It has been listed at the 9th position in "Top10 growth makers in Europe" and at the 91st position in "Top100 foodservice operators in Europe" categories in European ranking of the ,,Food Service Europe & Middle East" magazine announced in December 2007.
The sales results are in line with the AmRest growth strategy announced in May 2007. AmRest wants to become a dominating restaurant operator in both the Quick Service Restaurant and Casual Dining Restaurant sectors in Central and Eastern Europe. One of the company's targets is to triple sales in three years.
The company wants to achieve this goal by launching new brands, category leading brands, developing already possessed brands, increasing sale in existing restaurants, takeovers, acquisitions and entering other Central and Eastern Europe markets.
In compliance with the strategy, AmRest dynamically increased its sale in 2007 (increase of sale in third quarter of 2007 amounted 41.7%). In May 2007, AmRest and Starbucks Coffee Company signed a joint venture agreement providing for opening and managing Starbucks coffee shops in Poland, Czech and Hungary. AmRest announced, that the first Starbucks coffee shop in Central and Eastern Europe will be opened at the end of January in Prague, capital city of the Czech Republic. The first coffee shop of this brand will be opened in Poland in 2008.
In 2007 AmRest introduced a Burger King brand to Poland, made a takeover of Rostik-KFC restaurant network in Russia (41 restaurants), opened first KFC restaurants in Bulgaria and Serbia. Currently, the company leads talks regarding takeover of another 20 KFC-Rostik restaurants in Russia and acquisition of 30% stake in Russian network Kroshka-Kartoshka (180 restaurants).
AmRest manages 252 of KFC, Pizza Hut, Burger King, freshpoint and Rodeo Drive restaurants in Poland, Czech Republic, Hungary, Bulgaria, Serbia and Russia. Freshpoint and Rodeo Drive are original concepts of AmRest. KFC and Pizza Hut brands are franchised by Yum! Brands inc., while Burger King brand - by Burger King Europe GmbH. Starbucks brand is introduced accordingly with a joint venture agreement with Starbucks Coffee International, Inc. The agreement provides for establishing of the Starbucks coffees in Poland, Czech Republic and Hungary. AmRest is a single operator of its restaurants. It does not give franchise rights.
The Management Board of AmRest Holdings N.V. (“AmRest”) informs about the signing of Letter of Intent between AmRest and Burger King Europe GmbH (“BKE”) regarding Bulgaria.
Both Parties have agreed to enter into negotiations intended for BKE to grant AmRest a Development Agreement and Franchise Agreements thereunder in the country of Bulgaria. The negotiations will include the specific terms and conditions that will be mutually acceptable to both parties as it relates to AmRest developing and operating Burger King Restaurants in Bulgaria.
Since 2007 AmRest has had a right to open and operate Burger King restaurants in Poland (RB 5/2007 and RB 6/2007 dated 8 March 2007). Currently AmRest operates 4 Burger King restaurants in this country. From the 1st of February AmRest has the rights to operate Burger King in Bulgaria.