Corporativo
ALSEA REPORTS A 44.3% INCREASE IN NET SALES DURING THE THIRD QUARTER 2015
October 28, 2015
<strong>ALSEA REPORTS A 44.3% INCREASE IN NET SALES DURING THE THIRD QUARTER 2015</strong><br />
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<strong>Same-store sales grew 11.4% in the third quarter of the year</strong></li>
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<strong>Record number of openings in a quarter, with growth of 75 total units</strong></li>
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<strong>Mexico City, October 28, 2015—</strong> Today Alsea, S.A.B. de C.V. (BMV: ALSEA*), the leading Quick Service Restaurant (QSR), Coffee Shop, Casual Dining and Family Restaurant operator in Latin America and Spain, reported its results for the third quarter of 2015. This information is presented in accordance with International Financial Reporting Standards (IFRS), and it is presented in nominal terms.</div>
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Alberto Torrado, Executive Chairman of Alsea, said: <em>“During the third quarter of the year, we continued to see a positive trend in increases in same-store sales for the different segments and brands in our portfolio. This trend is being reflected in solid growth in revenues and EBITDA, which gives us confidence that we will exceed our year-end goals. At Alsea México, we continue to see good performance in consumption with a higher number of transactions in most of our brands. In addition, during the quarter we made some organizational changes related to the Vips and El Portón operations, with the latter now forming part of the portfolio of brands in the Casual Dining segment. We also recently launched our multi-brand “Wow Rewards” loyalty program, with which we hope to create much closer ties to our clients, and to reward them for their preference. In turn, Alsea International once again presented comparable sales that exceeded our expectations. In South America, Argentina had growth of close to a mid-single digit despite the country’s economic situation, while our operation in Chile reported low double-digit growth; meanwhile, Spain returned to high single digit growth levels in same-store sales, mainly due to the strong performance of Domino’s Pizza, Burger King and Foster’s Hollywood. We will remain focused on our operations, and we are certain that if this trend continues the Company’s year-end results will, without a doubt, be positive”</em>.</div>
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<strong><u>CONSOLIDATED RESULTS FOR THE THIRD QUARTER OF 2015</u></strong><br />
The following table is a condensed Income Statement in millions of pesos (except EPS). The margin for each item represents net sales, as well as the percentage change during the quarter ended September 30, 2015, in comparison with the same period of 2014:<br />
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<strong><em>3Q 15</em></strong></td>
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<strong><em>% Margin</em></strong></td>
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<strong><em>3Q 14</em></strong></td>
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<strong><em>% Margin</em></strong></td>
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<strong><em>% Change</em></strong></td>
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Net Sales</td>
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$8,224</td>
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100.0%</td>
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$5,701</td>
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100.0%</td>
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44.3%</td>
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EBITDA <sup>(1)</sup></td>
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1,087</td>
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13.2%</td>
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706</td>
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12.4%</td>
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54.0%</td>
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Units<sup>)</sup></td>
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(1) EBITDA is defined as operating income before depreciation and amortization.<br />
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<strong><u>SALES </u></strong>
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Net sales increased 44.3% to 8,224 million pesos in the third quarter of 2015, in comparison with 5,701 million pesos in the prior year. This increase was due mainly to the addition of 436 corporate units, for a total of 2,252 corporate units at the end of September 2015, which is growth of 24.0% over the same period of the prior year. This was driven by the integration of the units acquired in the Grupo Zena acquisition. Other factors also contributed to the increase in net sales during the quarter, including: growth of 11.4% in same-store sales, as well as revenues from the distribution and production segment. <br />
<strong><u>BITDA</u></strong><br />
As a result of the 45.1% growth in gross income and the 43.1% increase in operating expenses (excluding depreciation and amortization), EBITDA grew 54.0% to 1,087 million pesos at the close of the third quarter of 2015, compared with the 706 million pesos in the same period of the prior year. The 381million peso increase in EBITDA is mainly attributable to the growth in same-store sales, to the positive contribution from incorporating the operation of Grupo Zena in Spain into our portfolio, to operating efficiencies, and to the increase in number of units. This increase was partially offset by the impact on results arising from depreciation of the Mexican peso against the dollar, and to a lesser extent to the devaluation of some currencies in Latin America.</div>