The following table sets forth details of the Company's same store sales for the quarters indicated.
As of/For the Three Months Ended
September 30,
----------------------------------
2024 2023
---------------- ----------------
Number of Same Stores((1)
Southeast Asia 65
East Asia 13
North America 18
Others((5) 10
Total 106
Same Store Sales((2) (US$ in thousands)
Southeast Asia 96,839 93,131
East Asia 20,374 16,907
North America 36,096 34,635
Others((5) 22,449 21,773
Total 175,758 166,446
Average same store sales per day((3) (US$ in thousands)
Southeast Asia 16.2 15.6
East Asia 17.1 14.1
North America 21.8 20.9
Others((5) 24.4 23.7
Total 18.0 17.1
Average same store table turnover rate((4) (times/day)
Southeast Asia 3.6 3.6
East Asia 4.3 4.0
North America 4.0 3.9
Others((5) 3.8 3.9
Total 3.7 3.7
Notes:
(1) Includes restaurants that commenced operations prior to the beginning of the periods under comparison and opened for more than 75 days in the third quarter of 2023 and 2024, respectively.
(2) Refers to the aggregate gross revenue from Haidilao restaurant operation at the Company's same stores for the periods indicated.
(3) Calculated by dividing the gross revenue from Haidilao restaurant operation for the periods by the total Haidilao restaurant operation days at the Company's same stores for the periods.
(4) Calculated by dividing the total tables served for the periods by the product of total Haidilao restaurant operation days for the period and average table count at the Company's same stores during the periods.
(5) Others include Australia, the United Kingdom, and the United Arab Emirates.
About Super Hi
Super Hi operates Haidilao hot pot restaurants in the international market. Haidilao is a leading Chinese cuisine restaurant brand. With roots in Sichuan from 1994, Haidilao has become one of the most popular and largest Chinese cuisine brands in the world. With over 30 years of brand history, Haidilao is well-loved by guests for its unique dining experience -- warm and attentive service, great ambiance and delicious food, standing out among global restaurant chains, which has made Haidilao restaurants into a worldwide cultural phenomenon. Haidilao has been ranked as one of the world's most valuable restaurant brands for six consecutive years since 2019, earning the title of "World's Strongest Restaurant Brand" for 2024 (Brand Finance). As of September 30, 2024, Super Hi had 121 self-operated Haidilao restaurants in 13 countries across four continents, making it the largest Chinese cuisine restaurant brand in the international market in terms of number of countries covered by self-operated restaurants.
Forward-Looking Statements
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Super Hi may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "SEHK"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Super Hi's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Super Hi's operations and business prospects; future developments, trends and conditions in the industry and markets in which Super Hi operates; Super Hi's strategies, plans, objectives and goals and Super Hi's ability to successfully implement these strategies, plans, objectives and goals; Super Hi's ability to maintain an effective food safety and quality control system; Super Hi's ability to continue to maintain its leadership position in the industry and markets in which Super Hi operates; Super Hi's dividend policy; Super Hi's capital expenditure plans; Super Hi's expansion plans; Super Hi's future debt levels and capital needs; Super Hi's expectations regarding the effectiveness of its marketing initiatives and the relationship with third-party partners; Super Hi's ability to recruit and retain qualified personnel; relevant government policies and regulations relating to Super Hi's industry; Super Hi's ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Super Hi's filings with the SEC and the announcements and filings on the website of the SEHK. All information provided in this press release is as of the date of this press release, and Super Hi does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts
Investor Relations
Email: superhi_ir@superhi-inc.com
Phone: +1 (212) 574-7992
Public Relations
Email: media.hq@superhi-inc.com
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the three months ended
September 30,
--------------------------------
2024 2023
USD'000 USD'000
Revenue 198,616 173,252
Other income 2,081 384
Raw materials and consumables used (65,460) (59,625)
Staff costs (65,833) (57,085)
Rentals and related expenses (5,366) (5,349)
Utilities expenses (7,494) (6,716)
Depreciation and amortization (20,378) (17,767)
Travelling and communication expenses (1,515) (1,552)
Other expenses (17,118) (16,793)
Other gains and losses - net 25,851 (6,575)
Finance costs (2,164) (1,816)
------------ -----------
Profit before tax 41,220 358
Income tax expense (3,564) (1,760)
------------ -----------
Profit (Loss) for the period 37,656 (1,402)
------------ -----------
Other comprehensive income
Item that may be reclassified subsequently
to profit or loss:
Exchange differences arising on translation
of foreign operations (13,586) 3,019
------------ -----------
Total comprehensive income for the period 24,070 1,617
============ ===========
Profit (Loss) for the period attributable
to:
Owners of the Company 37,724 (1,390)
Non-controlling interests (68) (12)
------------ -----------
37,656 (1,402)
============ ===========
Total comprehensive income attributable to:
Owners of the Company 24,138 1,629
Non-controlling interests (68) (12)
------------ -----------
24,070 1,617
============ ===========
Profit (Loss) Earnings per share
Basic and diluted $(USD)$ 0.06 (0.00)
(MORE TO FOLLOW) Dow Jones Newswires
November 25, 2024 06:00 ET (11:00 GMT)
Comments