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Tortilla Mexican Grill (MEX) investor relations material

Tortilla Mexican Grill H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary3 Oct, 2025

Executive summary

  • Achieved record UK profitability in H1 FY25, with profit up 33% year-on-year and UK like-for-like sales up 5%, outperforming the market by 8%.

  • Group revenue rose 14.3% to £36 million, driven by UK growth and French acquisition.

  • France expansion underway, with six site conversions completed or imminent and acquisition of Fresh Burritos adding 24 stores and a central kitchen in Lille.

  • Strategic focus on five pillars: UK profitability, brand and food investment, top-line growth, team and technology, and international expansion.

  • Central kitchen in Lille operational, supporting pan-European growth.

Financial highlights

  • UK adjusted EBITDA rose 33% to £2.4 million, with group adjusted EBITDA down due to £1.2 million loss in France.

  • System sales reached £50 million across 116 stores, including franchise sales.

  • Gross profit margin in the UK increased to 78.3% year-on-year.

  • Loss before tax increased to £2.3 million, mainly due to French investment and site conversion costs.

  • Free cash outflow of £4 million reflects investment in France and UK technology.

Outlook and guidance

  • UK trading remains strong, with Q3 like-for-like sales up 7% and further growth expected in Q4.

  • FY25 adjusted EBITDA expected to be 10% below prior guidance due to France conversion delays.

  • Continued focus on UK profitability, site conversions, and kiosk rollouts.

  • European expansion to accelerate, leveraging the Lille kitchen and franchise model.

  • Year-end net debt expected to improve as capex is phased into FY26.

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Next Tortilla Mexican Grill earnings date

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H2 202527 Mar, 2026
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Frequently asked questions

Tortilla Mexican Grill plc is a United Kingdom-based company that operates as a fast-casual Mexican restaurant brand. Specializing in Californian-inspired Mexican cuisine, the company's menu features items such as burritos, tacos, and quesadillas, all of which are prepared in-house using ingredients free from artificial flavors or preservatives. Tortilla Mexican Grill plc provides a variety of dining options to its customers, including dine-in, self-serve, take-away, click-and-collect, and delivery services. Tortilla Mexican Grill plc is headquartered in London, and its shares are listed on the London Stock Exchange (LSE) under the ticker symbol MEX.

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