Americana Report Revenue of $2.2 Billion in FY24

Americana Restaurants International PLC and its subsidiaries, which is listed on Abu Dhabi Securities Market and Saudi bourse Tadawul, reported a revenue of $2.2 billion for the financial year ending 31 December 2024, a 9% decline compared with the previous year.

The company, which is the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa (MENA) and Kazakhstan, said in separate regulatory filings that despite evolving market conditions, it has displayed strong financial and operational resilience.

Despite the support from new store openings, top line growth was impacted by reduced like-for-like sales due to the regional geopolitical situation and weaker consumer demand in some markets, along with unfavourable foreign exchange movements.

The company registered a sequential recovery throughout the year, bolstered by strategic initiatives aimed at elevating consumer engagement through product innovation, targeted promotional activities, digital assets expansion for driving experience and convenience and strengthening community engagement.

In Q4 of 2024, the company achieved 14.1% y-o-y growth in revenue and 26.3% y-o-y growth in net income attributable to parent shareholders, respectively, reflecting continued progress in its business recovery. Excluding the $3.8 million one-off charge in Q4 of 2023 and $12.6 million impairment charges in Q4 of 2024, net income increased 47.6% year-on-year.

Gross profit margins remained robust, supported by favourable commodity prices and effective procurement and revenue management strategies, despite implementing value offers to gain transaction momentum.

The company reported adjusted EBITDA of $484.3 million for the year, resulting in 22% margin. The adjusted EBITDA declined by 12.1% as against 2023, impacted by decrease in revenues, and higher home delivery costs, which were impacted by an increased share of home delivery in the channel mix.

Net profit (attributable to shareholders of the parent company) for the year was $158.8 million, a decline of 38.8% y-o-y, impacted by lower adjusted EBITDA, increased depreciation charges on account of new store openings and corporate tax implementation in the UAE.

New Stores

The company spent $115.3 million in capital expenditure, representing 5.2% of total revenues, facilitating the opening of 213 gross new restaurants. This expansion brought the total store count to 2,590 as at the end of 2024, across 12 markets.

In January 2025, the company expanded its presence in Oman by acquiring the Pizza Hut business from the Khimji Ramdas Group. Through this acquisition, which includes 46 Pizza Hut stores in Oman, Americana Restaurants has increased its network of Pizza Hut restaurants across multiple markets in the region to 456 stores, further solidifying its position as a category leader in the pizza segment.

Americana Restaurants reaffirmed its commitment to delivering value to its shareholders. In line with its guidance, the Board announced a cash dividend of $127 million. The dividends are subject to shareholder approval at the Annual General Meeting, for which the date will be announced later.