Guzman y Gomez's beats profit forecast

The group said this is 71.2% ahead of the prospectus forecast.

Guzman y Gomez reported a pro forma net profit after tax of $5.7m, a 94.1% surge compared to last year and 71.2% ahead of the prospectus forecast, according to its 2024 full-year results.

This comes after the company launched its IPO in June.

“GYG delivered network sales growth of 26% for the year, ahead of prospectus forecasts. This result was underpinned by strong comparable sales growth and the continued delivery of restaurant network expansion across Australia. Strong sales growth and ongoing margin expansion resulted in significant growth in earnings, exceeding prospectus forecasts,” GYG founder and Co-CEO Steven Marks said.

GYG also reached a revenue of  $342.2m, an increase of 32.1% on the prior year. Pro forma EBITDA was $44.8m, 4.1% above prospectus forecasts and an increase of 52.9% on the prior year. Statutory EBITDA reported was $27.3m for the year, 7.2% ahead of prospectus forecasts and a decrease of 7.9% on the prior year.

Meanwhile, the group saw its statutory loss after income tax expense widened to $13.7m, attributable to the cost of the launch of its IPO and system implementation.

GYG currently has 216 restaurants operating, with 64 corporate and 130 franchised within Australia, 17 restaurants in Singapore and 5 restaurants in Japan as of 30 June 2024

GYG expects to achieve its prospectus forecasts for FY2025.