88
In financial year 2014 consolidated operating revenue
was 189.5 million euros, 8.7% more than in 2013. The
EBITDA margin for the same period was 25.4 million
euros, an increase of 37.7%. Operating income stood
at 10.9 million euros, up 69.9% over the previous year.
Sales and other operating revenue
Consolidated turnover totalled 187.5 million euros at
year’s end, for growth of 8.7% compared to 2013.
Turnover was distributed as follows:
Millions
of euros
Change
14/13
Sales of restaurants
184,6
9,5%
Sales of merchandise
2,2
-31,3%
Services rendered
0,663
7,9%
Net Sales and Services 187,5
8,7%
Lower merchandise sales were due to the change in
provisioning for the Angola operation in the last quarter
of 2014. The group became the holder of inventory
stock, with no merchandise transaction with an ex-
ternal entity.
Food service sales were 184.6 million euros, for year-
on-year growth of 9.5%, and are broken down as
follows:
Food Service Sales
Millions
of euros
Change
14/13
Restaurants
65,1
0,1%
Counters
97,0
14,0%
Other sales
22,6
21,3%
Total sales revenue
184,6
9,5%
Sales recovered in all segments, with higher ticket con-
cepts experiencing more difficulties.
The need for constant evaluation of the sales point
portfolio led to the decision to close 11 company-owned
units. With the market showing signs of recovery from
the crisis a selective expansion plan was continued.
We opened 9 units, whereby at year’s end we operated
300 own units in Portugal, 67 in Spain and 4 in Angola.
At the end of the year the total number of units (own and
franchised) was 391, distributed as follows:
Consolidated
Financial Analysis
OPERATING INCOME
