Jubilant FoodWorks Limited (JFL) today reported its financial results for the quarter ended 30th June, 2018.
Performance Snapshot – Q1 FY19
• Operating Revenue at Rs. 8,551 million, up by 26.0%
• Same Store Growth (SSG) for Domino’s at 25.9%
• EBITDA at Rs. 1,421 million, higher by 78.5%; EBITDA Margin at 16.6%, up by 490 bps
• Profit After Tax at Rs. 747 million, up by 213.2%; PAT Margin at 8.7%, up by 520 bps
Key Highlights – Q1 FY19
• National rollout of Every Day Value on Regular Pizzas
• Strong presence on T20 Cricket & sponsorship of Royal Challengers, Bangalore
• Domino’s Pizza – 13 Stores opened, 3 Stores closed, Total store count at 1144.
• Dunkin’ Donuts – 1 Stores opened, 1 Stores closed, Total store count at 37
Operating Revenues for Q1 FY19 stood strong at Rs.8, 551 million, representing a growth of 26.0% over Q1 FY18, and a sequential growth of 9.6% over the preceding quarter. The growth was on the back of a strong Same Store Growth (SSG) of 25.9% in Domino’s Pizza.
Overall profitability also improved, with EBITDA for Q1 FY19 coming in at Rs.1421 million at 16.6% of revenue, a growth of 78.5% over Q1 FY18. Profit after Tax in Q1 FY19 stood at Rs.747 million at 8.7% of revenue and a growth of 213.2% over Q1 FY18.
The strong performance in Q1 FY19 was on account of a good response to the Every Day Value offer on Regular Pizzas launched in March 2018, and which was supported aggressively during the IPL T20 cricket season. In addition to this, the continued success of the All New Domino’s product upgrade launched last year also drove a strong growth in core pizza orders.
In addition, Dunkin’ Donuts made sustained progress towards its goal of breaking even with a slew of innovations that drove sales growth and which was accompanied by disciplined cost management.
Commenting on the performance for Q1 FY19, Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, “We are pleased to start the year on a strong note with our robust performance in Q1 FY19. The strong growth in Domino’s came on the back of a superior product, Value for money delivery and growing digital contribution. This together with our focus on achieving break-even in Dunkin’ Donuts by the end of the financial year will continue to drive profitable growth for us.”
Commenting on the performance for Q1 FY19, Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said, “We delivered a strong quarter in both Domino’s and Dunkin’ Donuts.
In Domino’s, the extension of EDV to Regular Pizzas received a very good response with an increase in both new customer acquisition as well as existing customer frequency. Dunkin’ Donuts too saw encouraging growth and made good progress towards profitability on the back of successful innovations and disciplined cost management.”
* “Same store growth” (SSG) refers to the year-over-year growth in sales for restaurants opened before previous financial year
1. Figures have been rounded off for the purpose of reporting.
2. All financial data in this presentation is derived from reviewed standalone IND-AS financial statements.
3. The financials of Dunkin’ Donuts have been included in the results & related financial discussion.