November 14 (SeeNews) - Romanian fast food chain Sphera Franchise Group [BSE:SFG] reported on Monday a net profit of 15.6 million lei ($3.3 million/3.2 million euro) for the first nine months of 2022, down 44% on the year.
Sphera's operating profit (EBITDA) fell by an annual 6.1% in the first nine months of 2022, to 58.3 million lei, the company said in a press release.
The group's sales rose by an annual 31% in the first nine months of the year to 953.5 million lei. Sales generated in Romania contributed to 86% of this result, followed by Italy bringing in a 12% contribution, while Moldova generated 1% of total sales.
The restaurant expenses in the first nine months of 2022 amounted to 889.9 million lei, up 35% on the year, with the most significant increase in food and material costs.
Sphera Franchise Group operates a total of 175 KFC, Pizza Hut and Taco Bell restaurants in the Romanian, Italian, and Moldovan markets. The group is staffed by over 4,643 employees.
In October, Sphera announced the opening of a KFC drive-thru restaurant in the western city of Timisoara.
In 2021, Sphera swung to a net profit of 27.4 million lei, from a 2.37 million lei net loss in the previous year.
Blue-chip Sphera Franchise Group shares traded 4.12% higher at 13.9 lei as of 1525 CET on Monday on the Bucharest Stock Exchange.
(1 euro = 4.8982 Romanian lei)