“McDonald’s boosts Premier Capital interim group revenue to €340 million…”

Local McDonald’s franchisee posts €27 million pre-tax profit for first half of 2024.

The 185 McDonald’s restaurants operated by Premier Capital across six markets attracted over 43 million patrons between January and June.

The directors presented their interim report, together with the unaudited interim condensed financial statements of the Holding Company and its subsidiaries (the “Group”) for the period from 1 January to 30 June 2024.

Principal activities The Group is engaged in the operations of McDonald’s restaurants in Estonia, Greece, Latvia, Lithuania, Malta and Romania. 

Performance review

The first half of 2024 retained a very positive momentum with the Group registering over 43 million guest counts across its six markets (June 2023: 41 million). 

Group revenue reached €339,701,726 from €302,968,445 in 2023, an increase of 12.1%.

This was primarily achieved through the Group’s network expansion strategy, which saw its footprint increasing by 7 restaurants during the period under review, bringing the total at the end of June 2024 to 185 (June 2023: 178).

The Group continued to invest in its restaurants, with a total of €11,995,172 (June 2023: €15,114,822) invested in new stores and the refurbishment of existing ones – incorporating technologies such as Mobile Order and Pay and ultimately providing a more convenient and enjoyable experience for its guests.  

In line with McDonald’s Accelerating the Arches growth strategy, the Group made significant efforts to maximize its marketing, with €16,994,658 (June 2023: €15,205,244) spent on strengthening its industry leadership position, driving loyalty and maintaining the brand’s image and trust.  

Financial performance

Group During the period under review, the Group registered an operating profit of €30,972,832 (June 2023: € 25,466,603) on revenues of €339,701,726 (June 2023: €302,968,445). After accounting for the investment income and finance costs, the Group registered a pre-tax profit of €27,027,223 (June 2023: €21,272,338 ). 

In the first six months of 2024, the Group registered an EBITDA of €47,326,155 when compared to an EBITDA of €40,146,179 for the period ended June 2023.  The Group’s net assets for the period under review amounted to €92,649,232 compared to €102,996,629 as at 31 December 2023.

Holding Company

During the period under review, the Holding Company registered an operating loss of €3,713,166 (June 2023: €3,851,938).  After accounting for investment income and finance costs, the Holding Company registered a pre-tax profit of €43,994,437 (June 2023: €44,447,698). The net assets of the Holding Company as at 30 June 2024 amounted to €54,416,754 compared to €41,998,327 as at 31 December 2023.

Future Outlook

While the Group remains strongly vigilant over the impact of macro-economic considerations on its profitability, it remains optimistic that its projections for the financial year 2024 are attainable. 

The Group continues to have confidence in the opportunities available in all the countries in which it operates.  

FinanceMalta with Malta’s largest Financial Services event this November

With over 600 delegates, 40 prominent local and international speakers and increased foreign attendance, FinanceMalta’s Annual Conference this coming 29th November is set to confirm itself as Malta’s largest financial services event.

FinanceMalta’s Annual Conference is set to return on Friday, 29th November. The conference, in its 17th edition, will be held at the Hilton, Portomaso, and is themed “Empowering Financial Services.”

Chief Operations Officer Graziella Grech noted that the conference is the only one of its kind that covers all industry sectors, including fintech, banking, insurance, aviation, and investments, among others.

“It is the only conference that covers all industry sectors, namely fintech, banking, insurance, aviation and investments, amongst others. More importantly, all of Malta’s regulatory entities will also be present, providing all attendees with an excellent networking opportunity under one roof,” said Graziella Grech, Chief Operations Officer at FinanceMalta.

FinanceMalta’s 17th Annual Conference at the Hilton in Portomaso is themed “Empowering Financial Services” with a programme of speeches and engaging panel discussions on economic trends, fintech advancements and sustainable finance.

“Malta, like the rest of the world, is going through unprecedented huge economic and geopolitical changes. Our sector is not immune to these changes and given our size, we need to be prepared and empowered enough to adapt to any oncoming challenges. This not only explains the chosen theme of this conference but also reflects FinanceMalta’s commitment to our country as a financial jurisdiction,” added Ms Grech.

Some of the main speakers at this year’s event include Carmine di Noia, Director for Financial and Enterprise Affairs at the OECD, Kotaro Ishi, Mission Chief at International Monetary Fund, Panagiotis Polydoros, Mastercard’s Country Manager for Greece, Cyprus & Malta, Fabrice Demarigny, Chairman, European Capital Markets Institute as well as several leading local exponents from the banking, fintech and legal sectors.

Malta Company Announcements:

PG p.l.c

The Board of Directors of PG p.l.c. (the “Company”) approved for publication its Annual Financial Report and the audited consolidated financial statements for the year ended 30 April 2024 and resolved to propose the same for the approval of the shareholders at the forthcoming eighth Annual General Meeting of the Company intended to be held on 28 October 2024 at the Westin Dragonara Resort, St Julian’s, Malta. 

The Board of Directors of the Company has established 7 October 2024 as the effective date on which the shareholders on the register of members as at 27 September 2024 (the ‘Record Date’ in terms of the Capital Markets Rules) shall be entitled to receive notice of the Annual General Meeting. Furthermore, attached to this company announcement is a Directors’ Declaration on the ESEF Annual Financial Report.

Malita Investments p.l.c

The Board of Directors of Malita Investments p.l.c. (the “Company”) hereby announces that today, the 28 August 2024, it approved the Company’s unaudited condensed Interim Financial Statements for the sixmonth period ended 30th June 2024.

The Directors of the Company have also approved the payment of a gross interim dividend of €2,748,327 or €0.0132 per share equating to a net interim dividend of €1,786,413 or €0.0086 per share, payable on the 2 October 2024 to the shareholders of the Company on the Company’s share register at the Malta Stock Exchange as at close of business on 11 September 2024.

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