Westlife Foodworld delivers a record FY 23; reports highest ever Q4 sales, with 14% same store sales growth

Westlife Foodworld delivers a record FY 23; reports highest ever Q4 sales, with 14% same store sales growth

Highlights for the Financial Year 2023

Highest ever sales at Rs. 22.7 bn, grew by 44% YoY; Strong double-digit Same Store Sales Growth (SSSG) at 36% YoY
Op. EBITDA at Rs. 3.9 bn, grew by 90% YoY; Op. EBITDA margin was 17.3% (vs 13.1% in FY22)
Cash PAT at Rs. 2.5 bn, grew 97% YoY; Cash PAT margin was 11.2% (vs 8.2% in FY22)
 

Highlights of Quarter ended March 31, 2023

·         Highest ever Q4 sales at Rs. 5.56 bn grew by 22% YoY, strong double-digit SSSG of 14% YoY

Digital sales improved to ~62% led by Self Operating Kiosks (SOK); launched the new McDelivery App
Op. EBITDA at Rs. 919 mn grew 26% YoY; Op. EBITDA margin was 16.5% (vs 16.0% in Q4 FY22)
 

CHENNAI:  Westlife Foodworld Limited ("WFL"), formerly known as Westlife Development (BSE: 505533) ("WDL"), owner and operator of McDonald's restaurants in West and South India, has announced a record full-year performance 2023 with highest ever sales of Rs. 22.7 bn up by 44% YoY, driven by industry-leading Same Store Sales Growth (SSSG) at 36% YoY. The company recorded a Cash PAT of Rs. 2.5 billion up by 97% YoY.

In the quarter under review, the company reported an all-time high Q4 sales of Rs. 5.56 bn, up 22% YoY with a strong double-digit SSSG (same-store sales growth) of 14% YoY. This was driven by a double-digit growth in dine-in customers, enabling the on-premise business to grow by 38% YoY. The company’s own delivery channel, the McDelivery platform, saw a robust rise in user base, as digital sales improved to ~62%, led by SOKs (Self-Ordering Kiosks).