Restaurant operator Sphera Franchise Group swings to profit in H1 2023

Sphera Franchise Group (BVB: SFG), the largest group in the food service industry in Romania, continued its steady growth in the first six months of 2023, with a 14.8% increase in sales year-on-year (YoY) to RON 695.6 mln (EUR 141 mln), while registering the most profitable first half of the year in its history, with a triple-digit increase YoY in restaurant operating profit and EBITDA.

"Our results in the first half of 2023 underscore a story of resilience, innovation, and remarkable growth for Sphera Franchise Group. I am pleased that the growth potential is not only evident in our results but is also reflected in our evolution on the Bucharest Stock Exchange, with our shares appreciating by 29% in the first six months of the year," said Calin Ionescu, CEO at Sphera Franchise Group.

The group's restaurant operating profit reached RON 60.6 mln, up by 136.3% YoY, due to improved performance across all brands.

The group ended H1 with a net profit of RON 19.4 mln, compared to net losses of RON 8.7 mln in H1 2022.

(Photo source: the company)