Tims咖啡上半年靠食品撑起近四成营收丨咖啡茶饮“龙门阵”

Core Viewpoint - Tims China reported a 4.9% year-on-year decline in total revenue for Q2 2025, amounting to 349 million yuan, while system sales increased by 1.4% to 409.5 million yuan, driven by a strong performance in the food segment and a differentiated strategy of "coffee + fresh prepared meals" [1][2] Group 1: Financial Performance - Total revenue for Q2 2025 decreased by 4.9% to 349 million yuan, while system sales grew by 1.4% to 409.5 million yuan [1] - Food revenue saw a significant increase of 8.6%, accounting for 35.2% of system sales, marking a historical high [1] - Adjusted EBITDA for Q2 was 2.2 million yuan, indicating a positive turnaround [2] Group 2: Strategic Initiatives - The company has implemented a differentiated strategy focusing on "coffee + fresh prepared meals," successfully launching new products like the "light lunch box" series [1][2] - Tims China introduced 43 new products in Q2, including 15 food items, which contributed to an 8.4% increase in marketing expenses [2] - The company aims to open approximately 200 new MTO (made-to-order) stores in China by 2025, primarily through franchising [3] Group 3: Franchise and Store Expansion - The number of franchise stores increased by 116 year-on-year to 449, leading to a 50.7% rise in other income, reaching 67.1 million yuan [3] - The total number of global stores reached 1,015, with a net addition of 40 MTO stores and the closure of 49 non-MTO stores [3] - The company plans to enhance its presence in high-traffic locations such as train stations and airports, targeting specific channels like hospitals and schools [3]