Americana International Restaurants Company Reports Financial Results
Americana International Restaurants Company, which is publicly traded on the Abu Dhabi and Saudi Arabia stock exchanges, reported a notable decline in its annual net profit attributable to shareholders. For the fiscal year 2024, the net profit decreased by 38.8 percent, totaling $158.8 million compared to $259.5 million in 2023.
The company attributed this decrease to a nine percent decline in revenue, which fell to approximately $2.2 billion in 2024. This revenue contraction was linked to decreased sales attributed to ongoing geopolitical tensions in the region.
In addition to geopolitical factors, Americana identified “weak consumer demand in certain markets” and fluctuations in foreign exchange rates as contributing factors to this revenue decline.
Conversely, the company experienced a resurgence in the last quarter of the previous year, with revenue growth of 14.1 percent on a year-over-year basis. Moreover, net income attributable to shareholders grew by 26.3 percent year-over-year, indicating ongoing improvement in business recovery.
Excluding exceptional fees of $3.8 million recorded in the fourth quarter of 2023 and a $12.6 million impairment in the fourth quarter of 2024, net income showed a robust growth of 47.6 percent year-over-year.
Americana reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $484.3 million, resulting in a margin of 22 percent.
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