Page 9 - Restamax Plc Annual Report 2017
P. 9


             REVIEW BY THE CEO

             A record year for growth                        ing our organisation and management. We will invest
                                                             more strongly in the management of business units,
             The 2017 financial period will go down in our history as   the boosting of acquisitions and the satisfaction of our
             a year of strong growth. In January−December 2017, the   customers and staff. We will, for example, expand the
             turnover of our Group increased by almost 43 per cent,   opportunities for training provided by Restamax Acad-
             EBITDA by 15.5 per cent and operating profit by almost 20   emy for our staff. Sales, marketing and market knowl-
             per cent in comparison with the previous financial period.  edge will be given increasing value in our operations, and
                                                             for this we will strengthen our Executive Team during
             The key figures for 2017 are rather positive. Once again   2018 with a Chief Commercial Officer (CCO).
             we reached our long-term strategic goals, and during
             2017 we already exceeded the turnover target of MEUR   Becoming a leading restaurant company in
             180 that we set for 2018. Although the second and third   Northern Europe
             quarters of 2017 with chilly and rainy summer weather
             were challenging, which affected our EBITDA and EBIT   In March 2018, we took a significant step in Restamax’s
             margins, we were able to keep our key efficiency figures,   history. We expanded our restaurant business to
             such as our staff expenses and material margin, at a   Denmark. We bought over 90% of the popular Danish
             good level. Increased focus on and additional invest-  Cock’s & Cows and The Bird concepts, which currently
             ment in sales, marketing and streamlining operating   include a total of 11 restaurants in key locations in
             practices improved customer flow and increased average   Copenhagen. The founders of the restaurants, Lasse
             purchases.                                      Wiwe and Daniel Knuttel, will act as partners in our
                                                             Danish subsidiary and continue in the operative
             In 2017, we served up to 7 million customers and our   management of business operations. Their knowhow
             restaurant portfolio grew from 110 to more than 130   and market knowledge create a solid foundation for
             restaurants. The final quarter of the year was quite   strong growth in Denmark. In addition to food restau-
             successful and culminated in the busiest-ever Christ-  rants, we see great growth opportunities in the nightclub
             mas party season. In October–December, we opened   and entertainment restaurant business in Denmark.
             more than 10 new restaurants and, despite their opening   During summer 2018, both restaurant concepts will open
             costs, we succeeded in catching up with the results of the   new units in prime locations at the Copenhagen interna-
             second and third quarters that were influenced by poor   tional airport.
             summer weather.
                                                             Our internationalisation will be further supported by
             In 2017, we strengthened our position in familiar cities   the joining of forces with Royal Ravintolat that we
             and also expanded our market area to new cities. We   reported in April 2018. At the end of 2017, the Royal
             duplicated our familiar and popular concepts and   Ravintolat Group included 35 unique restaurants, 21
             coloured up the restaurant field with completely new   Hanko Sushi restaurants, 7 Pizzarium restaurants and
             business ideas. We opened Run Out escape rooms in   4 Sandro restaurants in different parts of Finland.
             Tampere and Seinäjoki. At the beginning of 2018, we   Other well-known brands of the Group famous for its
             opened the Vihahuone and the completely dark escape   premium restaurants include Savoy, Löyly, Elite, Palace
             room, Dark Room, in Tampere. To our knowledge, these   and Teatteri. Upon the realisation of the deal, I will take
             are the first of their kind in Finland.         charge of our company’s operations abroad as the CEO
                                                             of Restamax International. The CEO of Royal Ravintolat,
             Smile Henkilöstöpalvelut grown into one of      Aku Vikström, will assume the position of the CEO of the
             the major players in the sector                 Group with responsibility for the company’s domestic
                                                             operations. We aim to be the leading restaurant operator
             Smile Henkilöstöpalvelut Oy’s rate of growth acceler-  in Northern Europe by 2020.
             ated in 2017 both organically and as a result of corporate
             acquisitions, and the company became a leading player   In accordance with our strategy, we expect the Group’s
             in the field. As a result of corporate acquisitions, Smile’s   turnover to increase and profitability to remain on a good
             market position strengthened significantly in South-  level in both segments in the 2018 financial period. In the
             west Finland, Satakunta, Kainuu, Helsinki and Pirkan-  restaurant segment, without Royal Ravintolat, our goal
             maa, especially in the fields of industry, construction   is to reach a turnover of approximately MEUR 140, and
             and restaurant business. In March 2018, we announced   in labour hire a turnover of approximately MEUR 110, the
             that we would be evaluating the listing of Smile on the   total turnover being some MEUR 240, by the end of 2018.
             Nasdaq Helsinki Ltd Stock Exchange.
             Towards new targets

             At the end of 2017, we published the Group’s new long-
             term financial goals and strategy. Our goal is to reach a
             total turnover of approximately MEUR 400 by the end
             of 2020. Active work to reach this goal has begun. In   Juha Helminen
             January 2018, we announced that we would be revamp-  CEO, Restamax Plc

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