Ibersol profits €3.7 million in H1

The fast food restaurant company Ibersol closed the first half of the year with profits of €3.7 million — an improvement of €116.2% on the €22.9 million losses it made in H1 2021.

Despite the start of the first half being “marked by the Omicron variant that slowed the rate of recovery from the effects of the Covid-19 pandemic” and the impact from the war, Ibersol’s business turnover grew 79.5% to €242 million, compared to €134.9 million like-for-like.
Restaurant sales increased 79.4% to €236.7 million in the first six months of the year. Sales of merchandise increased 96.2% to €4.5 million, while service provision was €0.4 million.
Ibersol’s EBITDA grew 50.8% in H1 compared to €37.6 million. The company points out that the uncertainty caused by the war has led to a disruption in supply chains, an increase in wholesale foodstuff products, energy and transport with the knock-on effect of a decline in consumer confidence and an impact on Ibersol’s cost structure.
At the start of September, the Portuguese competition authority gave the green light for Restaurant Brands Iberia to buy the exclusive control of Iber King and Lurca (both held by the Ibersol Group) and the brand Burger King Ibersol.