Super Hi International Holding (9658) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 14.2% year-over-year to $225.9 million, driven by higher customer traffic, menu innovation, and network expansion.

• Operating profit rose 70.7% year-over-year to $14.0 million, with margin improving to 6.2%.

• Net profit was $4.1 million, down from $11.9 million, mainly due to an $11.7 million net foreign exchange loss.

• Delivery and other business lines posted strong growth, with delivery revenue up 82.5% and others up 166.7%.

• The "Pomegranate Plan" expanded, with 10 brands and 18 stores now operating.

Financial highlights

• Haidilao restaurant revenue was $204.2 million, up 8.4% year-over-year; same-store sales grew 4.0%.

• Delivery business revenue rose 82.5% to $7.3 million; other businesses revenue surged 166.7% to $14.4 million.

• Gross margin was 66.1%, up 0.1 percentage point year-over-year.

• Operating cash flow increased to $24.2 million, up from $19.7 million in Q1 2025.

• Average daily revenue per restaurant was $18,400, up from $17,800 year-over-year.

Outlook and guidance

• Store expansion will continue with a focus on quality and stability, with a net addition of 4 restaurants year-over-year and 1 in Q1 2026.

• No specific store opening numbers disclosed, as plans are tailored regionally.

• Management remains committed to long-term growth, prioritizing customer and employee benefits.

• Strategic advancement of the "Pomegranate Plan" with 10 brands incubated and 18 restaurants in operation.