Americana Restaurants’ net profit drops by almost 39% YoY in 2024

This was attributed to lower adjusted EBITDA, higher depreciation from new stores, and UAE corporate tax implementation.

Americana Restaurants International PLC’s (Americana Restaurants) net profit attributable to the shareholders of the parent company declined by 38.8% year-on-year (YoY) to $158.8m in 2024.

The company attributed this to lower adjusted EBITDA, increased depreciation charges on account of new store openings, and corporate tax implementation in the UAE.

Revenue also declined by 9% to $2.2b in 2024, compared to the previous year.

Although new store openings provided support, overall revenue growth was affected by reduced like-for-like sales due to the regional geopolitical situation and weaker consumer demand in certain markets, along with unfavourable foreign exchange fluctuations.

In Q4 2024, the company achieved 14.1% YoY growth in revenue and 26.3% YoY growth in net income attributable to parent shareholders, respectively.

The company continued its store expansion, opening 213 gross new stores.

Moreover, Americana Restaurants reported adjusted EBITDA of $484.3m for the year, resulting in a 22% margin.

The adjusted EBITDA declined by 12.1% in 2024 compared to the preceding year, impacted by the decrease in revenues and higher home delivery costs, which were affected by an increased share of home delivery in the channel mix.

In January 2025, the company expanded its presence in Oman by acquiring the Pizza Hut business from the Khimji Ramdas Group.

Through this acquisition, which includes 46 Pizza Hut stores in Oman, Americana Restaurants has increased its network of Pizza Hut restaurants across multiple markets in the region to 456 stores.