Premier Capital plc, the Maltese-owned Developmental Licencee for McDonald’s in six European markets, has posted a pre-tax profit of €23 million for the year ended December 31, 2018, up from €20 million in 2017.
Last year, the group registered a 11.5% increase in turnover to realise revenue of €294 million. Thanks to its team of more than 8,000 people in 146 restaurants in Estonia, Greece, Latvia, Lithuania, Malta and Romania, Premier Capital served 119 million customers last year, seven million more than in 2017, yet again setting a new guest count record for the group.
All markets reported significant growth, with Lithuania registering the highest advancement on 2017 with 19%, followed by Greece (13.8%), Romania (11.2%), Estonia (9.1%), Latvia (8.9%), and Malta (7.5%). Premier Capital opened 10 new restaurants last year: eight in Romania, one in Lithuania and one in Greece. Four restaurants were closed across the network. Three existing restaurants in the Baltics and Romania were remodelled.
The outlook for the group’s business across all markets remains positive and geared towards sustainable growth. In the Baltics, Malta and Romania, McDonald’s remains a market leader in the ‘informal eating out’ sector. The group continues to grow its market share and customer base on the back of enhanced in-store experience. In Greece, despite strong competition from local and international brands and a persistently challenging economic environment, results are improving and the market share growing.
The group will open 13 restaurants this year. The openings fall under a €64 million investment drive to expand Premier Capital’s restaurant portfolio in the Baltics, Greece, Romania and Malta to 176 restaurants by 2021.
“These excellent results for 2018 are evidence of our strong commitment to running great McDonald’s restaurants,” Premier Capital Chief Executive Officer Victor Tedesco said. “Across our markets, our people have never been more driven to deliver the best McDonald’s experience to our customers. This mission is rooted in growing our guest counts and ensuring our people enjoy working with McDonald’s. We will continue to encourage our people to work together, share knowledge and experience, and derive all the benefits that come with operating in six territories.
“In 2019, we are focused on reducing complexity in our restaurants for both our customers and our people. We will do this by simplifying the menu, making sure our guests enjoy variety and value consistently, and giving them the ability to place orders easily through the adoption of further innovation in-store and on their devices. Premier Capital is wholeheartedly invested in the brand’s global mission to Build a Better McDonald’s.”