ABU DHABI: Americana Restaurants International today announced its financial results for the three-month period ended 31st March 2024, generating revenues of $493.5 million.
Americana reported adjusted EBITDA of $103.3 million, maintaining a healthy margin of 20.9% vs. 21.5% year-on-year. The company benefited from lower cost of inventory and reduced marketing expenses.
Net income for the quarter, attributable to the shareholders of the Parent Company, stood at $28.0 million. The company continued to exhibit financial resilience with a solid cash position of $159.9 million.
Americana Restaurants continued to enhance its footprint with the opening of 37 gross new stores in the first quarter of 2024. As of 31st March 2024, the company’s portfolio stood at 2,456 restaurants, with 37 new restaurants under construction.
Source: Emirates News Agency