2022 was one of the most successful years for McDonald's: a significant increase in revenues and number of customers, effective management of operating costs, 3 new branches, improved profitability indicators and a sharp reduction in leverage.
In 2022, the company's revenues stood at ₾200 million that is a 46% annual growth. The increase was cased by a growing number of users. The number of customers hit almost 10 million that is 31% more than in 2021, one customer spent an average of ₾20.2 per order. Compared to 2019, consumers spend 67% more at McDonald's.
In this period, amid inflation cost increases were largely switched to the customer that allowed to maintain the company's restaurant margins. Along with the increased number of customers and checks, McDonald's revenues also increased. If each McDonald's branch generated ₾6 million in 2019, in 2022 this figure soared to about ₾9.5 million.
Operating expenses amounted to ₾83 million, their share was 42% in total revenues. Including, the royalty expense made ₾15 million or 7% of revenues.
Amid a sharp revenue growth and effective expense management, operating profit increased 2.3-fold compared to last year and stood at GEL 38 million. Operating profit margin increased from 12% to 19%.
Annual net profit amounted to GEL 41 million that is a 20% profit margin. In 2022, "McDonald's" poured significant capital investments of about ₾27 million. The investments were mainly made in three new branches and their arrangement.
Despite high investments, the company's unlevered free cash flow amounted to ₾24 million that covered the interest expense/principal of the loan and left up to ₾8.5 million to be distributed to shareholders. McDonald's total loan balance made ₾76 million at the end of 2022 (2021: ₾92 million).
Dividends paid to owners in 2016-2023 totaled ₾16.5 million," Finspot review reads.
The company’s owners are Temur Chkonia - 90%, Tengiz Kapanadze - 10%.
