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ANNUAL REPORT 2011
Operating results
In financial year 2011 consolidated operating
profits were 198.2 million euros, 8.2% lower
than in 2010. The EBITDA margin for the same
period was 23,3 million euros, down 27.8%.
Operating results attained 10.4 million euros,
down 51% compared to the previous year.
Sales and Other Operating
Profits
Consolidated turnover totalled 194,5 million
euros at year’s end, 8.3% less than 2010.
Turnover was distributed as follows:
Turnover in Portugal accounted for about 147,4
million euros, a drop of 8.8% compared to the
previous year. In Spain, it fell by 6.5% to about
47 million euros, corresponding to 24% of the
Group’s turnover.
Merchandise sales and the volume of service
provided fell due to lesser input from sales to
Pizza Móvil franchisees.
Foodservice attained sales of 190,6 million
euros, for an annual drop of 8.1%, and breaks
down as follows:
Euro
million
% Ch
11/10
Sales of Restaurants
190,59 -8.1%
Sales of Merchandise
3,15 -10.8%
Services Rendered
0,78 -30.4%
Net Sales & Services
194,52 -8.3%
Sales lfl (Jan 2011)
-7.8%
Opening 2011
0.8%
Closings 2011
-0.6%
Rock in Rio 2010
-0.5%
Total
-8.1%