Ibersol profits 31.3 million in 2021 after losses of 55.2 million – Empresas

Ibersol closed the 2021 financial year with profits of 31.3 million euros, a value that compares with losses of 55.2 million the previous year, in which the business was heavily impacted by the pandemic, the company that explores spaces said this Saturday. from brands such as Pizza Hut, KFC, Pans or Pasta Caffé in addition to Burger King. Profits exceed the values ​​observed in 2019, when the net result stood at 27.1 million.

Turnover grew by 23.7%, to 357.3 million euros, but still 26.4% below the pre-pandemic numbers recorded in 2019.

Last year, Ibersol opened 30 new establishments, 24 of which in the last quarter, including, in Portugal, 12 Burger King, seven Taco Bell, six Kentucky Fried Chicken and five Pizza Hut restaurants. On the other hand, nine stores were closed in Portugal and 23 in Spain. As of December 31, 2021, Ibersol had 383 establishments in Portugal, 225 in Spain, 10 in Angola and three in France.

As for the ongoing negotiations with Restaurant Brands Iberia for the purchase of Burger King’s operations in Portugal and Spain, the company states that the Spanish company’s proposal has an enterprise value of 250 million euros, “on a cash and debt- free, which can come to
be increased by up to €7 million, relating to the potential use of tax credits”.

“On the present date, the process of confirmatory due diligence and the obtaining of internal authorizations and external financing by the proposing entity are in progress, conditioning the proposal received”, he adds.

Source: Jornal de Negócios by www.jornaldenegocios.pt.

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