Financial Performance - The company reported total revenue of $323.9 million for the six months ended June 30, 2023, representing a 31.8% increase from $245.8 million in the same period of 2022[2]. - The company achieved a net profit of $3.4 million, a significant turnaround from a net loss of $55.7 million in the prior year, marking a 106.1% improvement[4]. - Total revenue for the first half of 2023 reached $312.7 million, a 30.5% increase from $239.8 million in the same period of 2022[9]. - The company reported a profit attributable to shareholders of $3,541,000 for the six months ended June 30, 2023, a significant recovery from a loss of $55,723,000 in the same period of 2022[64]. - The company reported a net loss of $9,962 thousand for the six months ended June 30, 2023, compared to a net loss of $41,221 thousand in the same period of 2022[59]. Revenue Growth - Restaurant operating revenue increased by 30.4% to $312.7 million, up from $239.8 million year-over-year, driven by improved performance and increased customer traffic post-COVID[8]. - The increase in revenue was primarily attributed to a $72.9 million rise in restaurant operating income[7]. - The Southeast Asia region contributed $185,996 thousand in revenue, representing an 11.0% increase from $167,222 thousand in the prior year[55]. - Revenue from other business segments, including hot pot condiments and ingredients, surged to $6.9 million from $1.9 million, a growth of 263.2%[18]. Customer Traffic and Spending - The total number of restaurants increased to 115, up from 103 in the previous year, with a total customer traffic of 12.3 million, compared to 9.3 million in 2022[3]. - Total customer traffic increased to 12.3 million visits, a significant rise from 9.3 million visits in the previous year, marking a growth of 32.3%[11]. - Customer average spending in North America decreased to $49.1, down from $51.7, a decline of 5.0%[11]. Operational Efficiency - The average daily revenue per restaurant was $15.6 thousand, an increase from $14.2 thousand in the same period last year[3]. - The restaurant-level operating profit margin improved to 8.3%, up 6.8 percentage points from the previous year[3]. - The average table turnover rate improved to 3.3 times per day, compared to 3.0 times in the previous year, reflecting operational efficiency[11]. Cost Management - The cost of raw materials and consumables rose by 26.1% to $109.3 million, but the percentage of revenue decreased from 35.3% to 33.7%[20]. - Employee costs increased by 19.0% from $90.5 million for the six months ended June 30, 2022, to $107.7 million for the same period in 2023, while the percentage of employee costs to revenue decreased from 36.8% to 33.3%[21]. - Rental and related expenses rose by 12.5% from $5.6 million to $6.3 million, primarily due to increased property management fees associated with restaurant network expansion[22]. - Utility expenses surged by 41.6% from $8.9 million to $12.6 million, attributed to the increase in the number of restaurants and higher utility rates in certain jurisdictions[23]. Expansion and Strategic Plans - Future expansion plans include entering new markets such as the Philippines, Cambodia, and various European countries, while optimizing management structures for new store openings[6]. - The company aims to enhance customer satisfaction and operational efficiency through continuous staff training and service improvements[6]. - The company plans to continue seeking strategic investment opportunities that can provide synergistic benefits[37]. Financial Position and Liabilities - Cash and cash equivalents increased by 26.6% from $93.9 million as of December 31, 2022, to $118.9 million as of June 30, 2023, primarily due to enhanced business operations[36]. - Non-current liabilities decreased from $266,380 thousand as of December 31, 2022, to $242,916 thousand as of June 30, 2023, representing a reduction of approximately 8.8%[45]. - Total liabilities as of June 30, 2023, were $28,070,000, a decrease from $31,663,000 at the end of 2022[73]. - The company has no significant contingent liabilities or major lawsuits that could adversely affect its business as of June 30, 2023[40]. Governance and Compliance - The group has adopted the Corporate Governance Code and has complied with all applicable principles and provisions during the reporting period[83]. - The group has successfully separated the roles of Chairman and CEO as of March 30, 2023, aligning with corporate governance best practices[83]. - The group did not declare an interim dividend for the six months ended June 30, 2023, maintaining a conservative cash position[86].
特海国际(09658) - 2023 - 中期业绩