Brazil Fast Food Corp. Second Quarter 2013 financial results

The biggest fast-food chain in Brazil, Brazil Fast Food Corp., has just released its second quarter financial results of the year. 

Brazil Fast Food Corp. has over 1,050 different points of sale.

The brands that Brazil Fast Food Corp. operates include:

  • The Yoggi brand
  • The Bob’s brand
  • KFC and Pizza Hut São Paulo as franchisee of Yum! Brands
  • Doggis as master franchisee of Gastronomia & Negocios S.A.

Brazil Fast Food Corp. second quarter highlights

Second Quarter 2013 Highlights

  • Overall sales were R$286.0 million, an increase of 13 percent compared to R$254.2 million in 2012’s second quarter
  • Points of sale at franchises were around 982, more than the 963 points of sale last year
  • Total revenue was R$57.0 million, a 14 percent increase compared to R$49.9 million (reclassified) in the same quarter last year
  • Operating income went up by 25% to R$6.3 million, R$1.3 million more than in the second quarter 2012
  • Net income equaled R$4.4 million, representing a 21 percent compared to the year before

The President and Chief Executive Officer of Brazil Fast Food Corp., Mr. Ricardo Bomeny, said that the quarterly results were impressive.

Mr. Bomeny stated:

“We are pleased that sales from both our Company-owned restaurants and our franchised restaurants have continued to grow, and that our ongoing strategy of opening more franchised stores is reflected in robust net income growth.We have continued to invest in property and equipment to improve retail operations and believe our policy of retaining future earnings for their development will generate strong sustained growth.”

Financial condition of Brazil Fast Food Corp.

As of June 30, 2013, Brazil Fast Food Corp. had R$37.0 million in cash and cash equivalents, compared to R$32.0 million as of December 31, 2012.

In addition, as of June 30, 2013, net working capital was R$34.7 million, up from R$24.2 million as of December 31, 2012.

Mr. Bomeny concluded:

“Although the economic and political conditions in Brazil continue to be challenging, we believe that we are building a strong franchise and remain optimistic about our long-term future.”