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Pizza Company DP Eurasia FY Sales Jump 77%

By Dave Simpson
Pizza Company DP Eurasia FY Sales Jump 77%

DP Eurasia, which runs the Domino's Pizza brand in Turkey and Russia, has said it continued to consider its presence in Russia after delivering a jump in full-year sales.

Details

The London-listed firm said system sales, which include sales from its own and franchised stores, rose 76.5% to 4.21 billion Turkish lira ($223.82 million). Adjusted for hyperinflation in Turkey, sales grew 13.1%.

DP said the growth was achieved due to network expansion and strategic pricing, as well as high demand from its coffee shop chain.

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The company added that it was still evaluating its presence in Russia and had closed 29 stores in the country in 2022, bringing the number of outlets to 159 as of 31 December.

DP said in late December it was considering options for its Russian operations, including a divestment.

While many western companies, including McDonald's, pulled out of Russia after Moscow's invasion of Ukraine began last February, DP Eurasia said in April it planned to stay, but would limit investment there.

DP opened 48 new stores in Turkey in 2022, ahead of its previously guided range of 30-40.

Anticipated EBITDA

It said it anticipates its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for 2022 to come ahead of current market expectations.

Read More: Pizza Firm DP Eurasia Records Decline In Its Core Profit

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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