REG - DP Eurasia N.V - Update on FY2023 performance

DP Eurasia NVAnnouncement

16/02/2024 13:45

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RNS Number : 4875D  DP Eurasia N.V  16 February 2024

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FOR IMMEDIATE RELEASE

 
                16 February 2024

 

DP Eurasia N.V.

("DP Eurasia" or the "Company")

Update on FY2023 performance

 

Jubilant FoodWorks Limited ("Jubilant") has today shared a presentation with
the National Stock Exchange of India (the "NSE") and the Bombay Stock Exchange
(the "BSE") on which it is dual listed (the "Presentation").

 

DP Eurasia announces the following information included within the
Presentation:

 

1.    The Company's store count as at 31 December 2023:

a.    Domino's Turkey: 690

b.    Domino's Azerbaijan: 10

c.     Domino's Georgia: 7

d.    COFFY: 89

2.    COFFY (DP Eurasia's homegrown brand), is profitable, operates in a
market with high frequency of coffee consumption and is on the path to become
one of the top five coffee brands in Turkey by the end of CY 2024

3.    The Company's net debt, post IFRS-16, as at 31 December 2023: 466
TRY million

4.    System Sales in TRY mn:

a.    Pre-IAS-29: 6,136 (growth of 102.0% versus 31 December 2022)

b.    Pre-IAS 29 LFL: 95.9%

c.     Post-IAS-29:  7,583 (growth of 31.0% versus 31 December 2022)

d.    Post-IAS-29 LFL: 27.1%

5.    Pro Forma financial metrics for the year ended 31 December 2023:

a.    Revenue: Rs 17,509 mn

b.    PAT from Continuing Operations: Rs 1,663 mn

 

Note: The Company has used a TRY/INR exchange rate of 3.642. This is computed
based on the monthly average TRY/INR exchange rate for the year ending 31
December 2023.

 

Enquiries

 DP Eurasia N.V.
 Neval Korucu - Chief Financial Officer          +90 212 280 9636

 Buchanan (Financial Communications)
 Richard Oldworth / Toto Berger / Verity Parker  +44 20 7466 5000

                                                 dp@buchanan.uk.com (mailto:dp@buchanan.uk.com)

Important Notices

 

This announcement is for information purposes only and is not intended to and
does not constitute, or form part of, an offer, invitation or the solicitation
of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of any securities, or the solicitation of any vote or approval in any
jurisdiction,  nor shall there be any sale, issuance or transfer of
securities of DP Eurasia in any jurisdiction in contravention of applicable
law.

 

This announcement contains certain statements which are, or may be deemed to
be, "forward-looking statements" which are prospective in nature. The words
"believe", "anticipate", "expect", "intend", "aim", "plan", "predict",
"continue", "assume", "positioned", "may", "will", "should", "shall", "risk"
and other similar expressions that are predictions of or indicate future
events and future trends identify forward-looking statements. These
forward-looking statements include all matters that are not current or
historical facts. By their nature, forward-looking statements involve risks
and uncertainties because such statements relate to events and depend on
circumstances that may or may not occur in the future. Forward-looking
statements are not indicative of future performance and DP Eurasia's actual
results of operations, financial condition and liquidity, and the development
of the industry in which DP Eurasia sources operates, may differ materially
from those made in or suggested by the forward-looking statements contained in
this announcement. The cautionary statements set out above should be
considered in connection with any subsequent written or oral forward-looking
statements that DP Eurasia, or persons acting on the behalf of DP Eurasia, may
issue.

 

Nothing in this announcement is intended or shall be deemed to be a forecast,
projection or estimate of the future financial performance of DP Eurasia and
no statement in this announcement should be interpreted to mean that earnings
or earnings per share of DP Eurasia (where relevant) for the current or future
financial years would necessarily match or exceed the historical published
earnings or earnings per share for DP Eurasia.

 

Notes to Editors

 

DP Eurasia N.V. is the exclusive master franchisee of the Domino's Pizza brand
in Turkey, Azerbaijan, and Georgia. The Company was admitted to the premium
listing segment of the Official List of the Financial Conduct Authority and to
trading on the main market for listed securities of the London Stock Exchange
plc on 3 July 2017. The Company (together with its subsidiaries, the "Group")
is the largest pizza delivery company in Turkey. The Group offers pizza
delivery and takeaway/ eat-in facilities at its 707 stores (690 in Turkey, 10
in Azerbaijan and 7 in Georgia) as of 31 December 2023 and operates through
its owned corporate stores (11,3%) and franchised stores (88,7%). In addition
to its pizza delivery business, the Group also has its own coffee brand,
COFFY, which trades from 89 stores at year-end, 66 of which are franchised.
The Group maintains a strategic balance between corporate and franchised
stores, establishing networks of corporate stores in its most densely
populated areas to provide a development platform upon which to promote best
practice and maximise profitability.

 

 

In line with the announcement on 21 August 2023, the Company has initiated the
steps to file for DP Russia's bankruptcy. This was preceded by the
announcement on 28 December 2022, which confirmed that the Company was
evaluating its presence in Russia, the impact of sanctions and its continuing
ability to serve its customers in Russia. In this connection, the Russian
segment was classified as discontinued operations within the Company's audited
financial statements for the year ended 31 December 2022 and also within the
(unaudited) financial statements for the period ended 30 June 2023.

 

 

 

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