AmRest hospitality maintains its guidance for 2025, postpones some openings from Q4 to 2026

"We're reporting the first half. The third quarter is quite relevant in terms of results for the cumulative figures. So, at this point, we are keeping the guidance that we gave," AmRest's CFO Eduardo Zamarripa told the conference.

As he pointed out, the group is a little bit behind in terms of the openings.

"It's taking more time than expected. Usually, in the second half, we have a stronger number in terms of opening which is going to still be the case, but we may face some of the openings that we have programmed for the fourth quarter would be dropping to the first half of 2026," the CFO said.

At the beginning of the year, the AmRest Group assumed average single-digit sales growth for 2025 and an EBITDA margin similar to that of 2024. The group's CAPEX was to amount to less than EUR 200 million, and the number of new restaurant openings was to be similar to the previous year.

After the first half of 2025, the group has EUR 1,261.9 million in revenue, an increase of 2.5 percent year on year. The EBITDA margin was 15 percent.

CAPEX amounted to EUR 69.7 million against EUR 76.2 million a year ago, with 36 restaurants opened compared versus 41 in the prior year period.

The CFO reported that the market situation varies from country to country. He assessed that sales in the CEE region, including Poland, are better.

He reiterated that the company is monitoring the market for acquisition opportunities.

"One of the positive things that we have at this moment is the level of leverage that we have accomplished and that we are keeping. As we mentioned, at the low end of the levels that it was set as a company that we feel comfortable with. We have the flexibility, but we have to be very disciplined," Zamarripa said.

At the end of the second quarter, AmRest managed a network of 2,103 restaurants.

pel/ ao/