Recipe Unlimited Reports Q2 2021 Results VAUGHAN, ON, Aug. 5, 2021 /CNW/ - Recipe Unlimited Corporation reported financial results today for the 13 and 26 weeks ended June 27, 2021.
- Q2 Total System Sales increased by 44.1% compared to Q2 2020
- E-Commerce System Sales increased by 28.6% compared to Q2 2020 and 111.9% compared to Q2 2019
- Operating EBITDA of $30.4 million compared to $15.6 million in Q2 2020
- Net Earnings of $19.4 million compared to net loss of $40.6 million in Q2 2020
"During the past 15 months, we have taken steps to strengthen our overall business. Some of the initiatives include streamlining menus, improving our digital platform, testing higher efficiency kitchen equipment and more importantly, investing in our people and our franchisees. We have also closed underperforming restaurants, opened 42 new restaurants and have recently made changes to improve our brand portfolio mix. All of these have placed us in a strong position to be able to respond positively to the recovery.
With the help of the above initiatives, our business generated $30.4 million in EBITDA and $19.4 million in net earnings in Q2 2021. This was achieved while facing the most severe restrictions on dine-in since the beginning of the pandemic. Those restrictions impacted 97% of our operating weeks in the quarter.
Since the majority of restrictions have been lifted by the end of Q2, we have been excited to see the enthusiastic return of Guests to our restaurants. Our teammates and franchisees have remained disciplined to ensure great Guest experiences while performing in difficult and unpredictable environments."
- Frank Hennessey, CEO
https://www.newswire.ca/news-releases/recipe-unlimited-reports-q2-2021-results-836241773.html