Jubilant FoodWorks Limited releases results for Q4FY17-18

Jubilant FoodWorks Limited (JFL) today reported its financial results for the quarter and year ended 31st March, 2018.

Operating Revenues for Q4 FY18 stood strong at Rs.7798 million, representing a growth of 27.3% over Q4 FY17. This was driven by a strong 26.5% Same Store growth (SSG) in Domino’s Pizza.

Overall profitability also improved with EBITDA for Q4 FY18 coming in at Rs.1278 million at 16.4% of revenue and a growth of 111.1% over Q4 FY17. Profit after Tax in Q4 stood at Rs.681 million at 8.7% of revenue, more than a ten-fold increase over Q4 FY17.

For the full year FY 2017-18, Operating Revenues stood at Rs.29804 million, up by 17.1% over last year, driven by a full year Same Store Growth of 13.9% in Domino’s Pizza.

Profitability increased strongly with FY18 EBITDA at Rs.4464 million at 15.0% of revenue, a growth of 81.0% over FY17. FY18 Profit after Tax stood at Rs.2064 million at 6.9% of revenue, a growth of 206.9% over FY17.

The strong performance in Q4 FY 18 was driven by the continued success of All New Domino’s product upgrade rolled out in August and the traction of the Every Day Value pricing that provides customers attractive value for money. In addition, strong growth in online sales also contributed to overall growth, with online sales now contributing to 63% of delivery sales.

Commenting on the performance for Q4 FY18, Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, “FY18 has been a year of transformation for JFL. At the start of the year, we identified and articulated a new strategy for growth, and we are pleased to see that this translated into strong growth through the year, including in Q4. In addition, our sharp focus and control on costs as also our progress in reducing Dunkin’ Donuts losses led to a healthy increase in profitability. We will continue to execute on our strategy in the new financial year and are confident that will translate into sustained and profitable growth in our business.”

 

Commenting on the performance for Q4 FY18, Mr. Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said, “We are pleased with our performance in Q4 FY 18. Our key strategic initiatives undertaken in the past one year such as the launch of All New Domino’s, Every Day Value and sharp focus on Digital sales drove strong growth for us, leading to a six-year high of 26.5% SSG for Domino’s Pizza in the quarter. In Dunkin’ Donuts, we halved our losses in line with our stated commitment through a focus on Donuts and Beverages and shutting of unprofitable stores. Going forward, we will remain focused on the strategic pillars of Product Quality and Innovation, Value-for-money, Seamless Customer Experience and Digital Technology and are confident that these will help us deliver robust growth.”

 

Highlights

Domino’s Pizza

Particulars

Q4 FY18

Q4 FY17

FY18

FY17

SSG

26.5%

(7.5)%

13.9%

(2.4)%

Network data

Restaurant at the beginning of the period

1127

1,107

1117

1,026

New Restaurants

7

18

24

105

Closed restaurants

0

8

7

14

Restaurants at the end of the period

1134

1,117

1134

1,117

Number of New Cities added

1

5

3

29

1134 restaurants as of 31st March 2018 across 266 cities

1 new city added in Q4 FY18

Online data

Particulars

Q4 FY18

Q4 FY17

OLO to Delivery Sales %

63%

51%

Mobile Ordering sales to OLO %

78%

68%

App Download Count cum. (in mn)

9.6

6.4

 

* “Same store growth” (SSG) refers to the year-over-year growth in sales for restaurants in operation for 2 whole years (i.e. current & previous year)

 

Dunkin’ Donuts

Particulars

Q4 FY18

Q4 FY17

FY18

FY17

Network data

Restaurant at the beginning of the period

44

73

63

71

New Restaurants

1

3

5

12

Closed restaurants

8

13

31

20

Restaurants at the end of the period

37

63

37

63

Number of New Cities added

NIL

NIL

NIL

NIL

37 restaurants as of 31st March 2018 across 10 cities

o    No new city added in Q4 FY18

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