Revenue Performance - Revenue for Q4 2024 was $208.8 million, an increase of 10.4% compared to $189.2 million in Q4 2023[9] - Total revenue for the fiscal year 2024 was $778.3 million, a 13.4% increase from $686.4 million in 2023[9] - Revenue from Haidilao restaurants reached $747.3 million, up 13.0% from $661.2 million in 2023, driven by improved table turnover and strategic network expansion[18] - Takeout business revenue was $11.3 million, a 15.3% increase from $9.8 million in 2023, attributed to brand influence and partnerships with local delivery platforms[18] - Other business revenue grew by 27.9% to $19.7 million from $15.4 million in 2023, due to the popularity of hot pot condiments and strategic exploration of secondary brand restaurants[18] - Total restaurant-level revenue was $758.6 million in 2024, compared to $670.9 million in 2023, after accounting for other income[23] - Annual revenue for 2024 was $778.31 million, up 13.4% from $686.36 million in 2023[32] Customer Traffic and Sales - Total customer traffic exceeded 8.0 million, a 9.6% increase from 7.3 million in the same period last year[9] - Same-store sales growth rate was 4.2% for Q4 2024[9] - Total customer traffic reached 29.9 million in 2024, up from 26.7 million in 2023, representing an increase of 12.0%[26] - Same-store sales for the year totaled $653,991,000, a 7.1% increase from $610,692,000 in 2023[28] - Average daily revenue per restaurant was $18,700 in 2024, compared to $17,700 in 2023, reflecting a growth of 5.6%[27] - Customer average spending was $25.00 in 2024, slightly up from $24.80 in 2023[26] Profitability and Margins - Operating profit margin improved to 8.4%, up from 6.4% in Q4 2023[9] - Operating profit for Q4 2024 was $17.5 million, a 44.6% increase from $12.1 million in Q4 2023[14] - Operating profit for 2024 was $53.3 million, a 23.7% increase from $43.1 million in 2023, with an operating profit margin of 6.8% compared to 6.3% in the previous year[20] - Restaurant-level operating profit margin improved to 10.1% in 2024 from 9.0% in 2023, reflecting operational efficiency and revenue growth[23] - The company reported a net loss of $11.61 million for Q4 2024, compared to a profit of $23.27 million in Q4 2023[32] - Net profit for the year was $21.4 million, a decrease of 15.4% from $25.3 million in 2023, primarily due to increased foreign exchange losses[20] Costs and Expenses - Employee costs rose to $67.2 million, a 9.6% increase from $61.3 million in the same period last year[14] - Cost of raw materials and consumables increased to $257.7 million, up 9.8% from $234.7 million in 2023, but the percentage of revenue decreased from 34.2% to 33.1%[19] - Employee costs rose to $259.3 million, a 14.7% increase from $226.0 million in 2023, with the percentage of revenue increasing from 32.9% to 33.3%[19] Business Expansion and Initiatives - The company opened 2 new restaurants in Q4 2024, bringing the total to 122, a net increase of 7 from the end of 2023[9] - The company initiated the "Pomegranate Plan" in 2024 to diversify its business and expand its customer base[10] - Total restaurant count increased to 122 in 2024 from 115 in 2023, with notable growth in Southeast Asia (73 restaurants) and North America (20 restaurants)[26] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming year[32] Financial Position - Total assets increased to $361.20 million in 2024 from $357.92 million in 2023[33] - Cash and cash equivalents at year-end were $254.72 million, up from $152.91 million in 2023, marking a 66.5% increase[35] - Non-current liabilities rose to $194.20 million in 2024, compared to $176.19 million in 2023[34] - The company’s equity attributable to owners increased to $360.03 million in 2024 from $270.09 million in 2023[34] Recognition and Market Position - The company has been recognized as the "World's Strongest Restaurant Brand" in 2024 by Brand Finance, highlighting its market position[29] - The company operates in 14 countries across four continents, making it the largest Chinese dining brand in international markets[29] Foreign Exchange Impact - The company experienced a foreign exchange gain of $12.36 million in Q4 2024, compared to a loss of $9.96 million in Q4 2023[32] - The net loss for the period was $11.6 million, compared to a profit of $23.3 million in the same period last year, primarily due to increased foreign exchange losses[14]
特海国际(09658) - 2024 Q4 - 季度业绩