The following is a summary of the Alsea, S.A.B. De C.V. (ALSSF) Q2 2024 Earnings Call Transcript:
Financial Performance:
Alsea reported a 2.3% year-over-year increase in sales for Q2 2024, reaching MXN19 billion.
The EBITDA increased by 7.6%, reaching MXN2.7 billion with a margin of 14.5%.
Net income decreased year-over-year by 66.9% to MXN157 million mainly due to non-cash negative effects from currency exchange translation.Earnings per share post-IFRS 16 rose to MXN3.63, an increase of 53% year-over-year.
Business Progress:
Alsea opened 48 corporate units and 17 franchises totaling 65 new stores during Q2.
Launched Club By in Spain reaching over 2 million members and Starbucks Rewards reaching 2 million active users.
Featured remodeling projects such as Vips stores in Mexico led to a 15% sales increase.
Opportunities:
Expansion strategy continues as new store openings were similar to last year with an expected increase in the upcoming months, focusing on regions showing profitability.
Digital transformation strategy continues to enhance loyalty sales, which increased by 37.6%.
Risks:
Boycotts of American brands in France and the Netherlands led to a 9.9% same-store sales decline in Europe, specifically affecting the performance of Starbucks locations in these regions.
More details: ALSEA SAB DE CV IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
