Restamax Plc: RESTAMAX UPDATES ITS LONG-TERM FINANCIAL GOALS AND STRATEGY
Restamax Plc
STOCK EXCHANGE RELEASE 19 December 2017 at 8:00am
RESTAMAX UPDATES ITS LONG-TERM FINANCIAL GOALS AND STRATEGY
Restamax Plc's Board of Directors has ratified the updated long-term financial goals and strategy for the strategy period 2018-2020.
Restamax's goal is to reach a revenue of approximately MEUR 400 by the end of 2020 after internal eliminations.
The goal of the restaurant segment is to reach a revenue of approximately MEUR 200, and the goal of the labour hire segment is to reach a revenue of approximately MEUR 220 by the end of 2020.
The Group's goal is to keep EBITDA at a good level that is better than the average level of the sector in both segments. The aim is to increase EBIT margin in both segments. The company will endeavour to increase dividend payments every year.
In the restaurant segment, the cornerstones of the strategy remain intact; profitable growth is driven from customer growth centres organically, through new establishments, and via corporate acquisitions. The productivity of the existing business will be improved by investing more into customer service, corporate sales, marketing and employee engagement. Cost efficiency will continue to play a key role in managing the operations. Restamax's goal is to expand its restaurant business abroad during 2018.
In the labour hire segment, the strategic cornerstones are the acquisition of new customers, the continued development of existing business and profitable growth through business acquisitions. New service models will be developed in accordance with the growing and diversifying staffing needs of different customer groups. Another strategic focus is investing into the availability of labour with different cooperative parties.
CEO Juha Helminen:
We have completed our strategic work and goals for the coming strategy period. Although the company's goals in the two previous strategy periods were challenging, we reached them and actually met them ahead of the plan. The goals of the coming period are again challenging, but I strongly believe in our strategy, which we have now refined to continue our strong delivery.
On the restaurant side, Restamax's existing business is on firm ground. Approximately 7 million customers per year currently visit our restaurants. By investing in our personnel, customer service and marketing, we will be able to continue to increase the value of each customer visit. We will continue to invest to profitable growth through acquisitions and new establishments. The strategy of expanding abroad has been strengthened, and the expansion model has been clarified by market type.
The labour hire market is growing strongly. As one of the largest players in the sector, we are well positioned to benefit from this growth and we also seek more profitable growth through business acquisitions. With the acquisitions we also seek to expand our competence base and also grow in new labour hire sectors.
Restamax's future looks good. I believe that, in our upcoming strategy period, we will continue to enrichen the Finnish restaurant culture. The restaurant sector in Europe is fragmented, and Restamax has the resources to increase its share outside Finland's borders. The labour hire market is growing in Finland and our market share has been constantly increasing. Restamax is a strong and profitable company.
Additional information:
Juha Helminen, CEO, Restamax Plc, tel. +358 40 535 5560
Jarno Suominen, CFO, Restamax Plc, tel. +358 40 721 5655
Distribution:
NASDAQ Helsinki
Major media
www.restamax.fi
Restamax Plc is a Finnish restaurant business and labour hire services group established in 1996. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include more than 130 restaurants, nightclubs and entertainment centres all over Finland. Well-known restaurant concepts of the Group include Stefan's Steakhouse, Viihdemaailma Ilona, Classic American Diner and Colorado Bar & Grill. In 2016, Restamax Plc's turnover was MEUR 130.1 and EBITDA MEUR 19.4. Depending on the season, the Group employs some 2,000 persons, converted into full-time employees. Restamax subsidiary Smile Henkilöstöpalvelut Oy employs approximately 8,000 people on a monthly basis.
Restamax company website: www.restamax.fi, Restamax consumer website: www.ravintola.fi, Smile Henkilöstöpalvelut: www.smilepalvelut.fi