MTY reports results for the first quarter of its 2015 fiscal period

TSX Trading Symbol: "MTY"

MONTREAL, April 8, 2015 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of multiple concepts of quick service restaurants, reports today the results of its operations for the first quarter of its 2015 fiscal year.

Highlights of the first quarter of 2015:

  • EBITDA grows by 10% compared to the first quarter of 2014, fueled by the acquisitions realized in late 2014.
  • Same store sales increase by 0.7%, with 15 concepts reporting positive growth.
  • System sales increase by 23%, to reach $246.7 million in the first quarter of 2015.
  • Total revenues increase by 26% mainly because of the corporate stores acquired late in 2014 and early in 2015; revenues from the franchising segments grew by 15%.
  • Net income attributable to owners increased by 13%, to reach $6.3 million, or $0.33 per share.
  • At the end of the quarter, MTY's network had 2,837 locations in operations, of which 53 were corporate and 2,784 franchised. During the quarter, 27 new stores were opened, 49 closed and 132 were added with the acquisition of the Machu Wok network representing an increase of 110 locations since November 30, 2014.

 

(in thousands of $, except per share information)









3-month period
ended February 28,
2015

3-month period
ended February 28,
2014

Variance





Revenues

32,364

25,602

26%

Operating Expenses

21,941

16,116

36%

EBITDA

10,423

9,486

10%

Amortization and depreciation charges

1,986

1,697

17%

Other income and charges, including interest

288

(136)

n/a

Income before taxes

8,725

7,653

14%

Net income attributable to shareholders

6,279

5,537

13%

Basic and diluted EPS

0.33

0.29


Locations in operation

2,837

2,591

9%

System sales

246,701

200,593

23%

Same store sales

0.7%

(1.7%)


 

Note: These are financial highlights only. Management's Discussion and Analysis, the condensed interim consolidated financial statements and notes thereto for the quarter ended February 28, 2015 will be available on the SEDAR website at www.sedar.com and on the Company's website at www.mtygroup.com.

Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Company's Management Discussion and Analysis, which can be found on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
MTY Food Group Inc.

_____________________________________
Stanley Ma, Chairman, President & CEO

 

SOURCE MTY Food Group Inc.

For further information: For more information please contact Eric Lefebvre, Chief Financial Officer at 1-514-336-8885 or by email at ir@mtygroup.com, or visit our website: www.mtygroup.com or SEDAR's website at www.sedar.com under the Company's name.

RELATED LINKS
http://www.mtygroup.com

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