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AmRest Holdings SEAmRest hospitality lowers its 2025 sales guidance to low single-digit growth
Listed restaurant operator AmRest has lowered its guidance for the current year to low single-digit sales growth (against the mid single-digit growth expected earlier) and EBITDA margin to slightly above 15.6 percent, company representatives told a conference call on Friday. The number of new openings this year is expected to be lower than last year, instead of the similar number on an annual basis which was previously expected.
"We are revisiting our revenue and profitability guidance for this year to reflect current market conditions and the timing of our improvement initiatives. (…) In this regard, we expect to close 2025 with a low single-digit growth in sales and with an EBITDA margin slightly above current year-to-date that, I remind you, is 15.6 percent. Finally, the number of restaurants to be opened will be below last year's numbers," CFO Eduardo Zamarripa told the conference call with investors.
At the beginning of the year, the AmRest Group assumed mid single-digit sales growth for 2025 and an EBITDA margin similar to that of the previous year (16.8 percent). The group's CAPEX was to amount to less than EUR 200 million, and the number of new restaurant openings was expected to be similar to the previous year's result.
The AmRest Group reported record sales of EUR 660.5 million for the third quarter of 2025. Excluding revenues generated by the part of the business deconsolidated during the year, this is a 3.5 percent year-on-year increase.
In turn, the group's revenues for the first nine months of 2025 amounted to EUR 1,922.5 million, an increase of 1.7 percent year on year, or 3.7 percent taking into account the effect of deconsolidation.
AmRest's profitability measured by EBITDA margin was 16.8 percent, with a result of EUR 111.2 million, down 11.2 percent year on year.
As the group representatives pointed out, increasing cost pressures on certain raw materials, such as beef and poultry, also contributed to the lower margin.
On a cumulative basis, EBITDA amounted to EUR 300.7 million on the 15.6 percent margin. In turn, cumulative profit reached EUR 89.7 million with a margin of 4.7 percent, a year-on-year increase of 0.3 percentage points.
In the third quarter of 2025, the company opened 16 new restaurants, while closing 9. In total, 52 restaurants have been opened year-to-date against 41 shutdowns, 13 of which were franchise restaurants.
At the end of the reporting period, AmRest had 2,110 restaurants in its portfolio.
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