the fall in foodservice consumption throughout finan-
cial year 2012, with a consequent increase in pressure
on sale prices;
Burger King was better able to resist; with an ongoing
unit renovation programme it posted better sales perfor-
mance, even compared to the global foodservice market;
In an extremely competitive segment and after a pro-
cess of streamlining the unit portfolio and adjusting
distribution areas, Pizza Móvil accompanied the market
trend;
Sales by the Pasta Caffé banner in Spain were strongly im-
pacted by the closure of 2 units in 2011 and 1 unit in 2012.
In Angola the 2 units totalled sales of more than 2 mil-
lion euros. The first unit opened in August and the sec-
ond in late October. The need for constant evaluation of
the portfolio of sales points led to the closing of 20 com-
pany-owned units. With the consumer market in reces-
sion and demanding more selectivity we only opened 2
units, whereby at year’s end we operated 307 own units
in Portugal and 73 in Spain.
At the end of the year the total number of units – company-
owned and franchised – was 402, distributed as follows:
In Portugal the Group’s sales fell by 15.7%, in line with
modern foodservice market performance:
The VAT rate raised from 13% to 23% was not totally
passed on to the sale price;
Shopping centres recorded steep drops in traffic and
foodservice sales;
Fuel prices and the worsening crisis had a strong nega-
tive impact on traffic and consequently on foodservice
sales at service areas;
Less impact from reduced foodservice consumption in
the brands KFC and Burger King, which boosted their
respective market shares;
More negative performance of Pizza Hut home delivery
aggravated the brand’s reduced sales;
Pasta Caffé and Ò Kilo were the brands most affected by
the worsening economic crisis and unit closures;
Positive evolution of traffic at airports;
Major drop in the number of events held in the catering
market, particularly in the north.
In Spain a sales volume of 42 million euros was attained,
corresponding to a reduction of 2 million euros:
The effects of the economic crisis in Spain aggravated
Consolidated financial analysis
74
