Super Hi International Holding (9658) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 10% year-over-year to $218.8 million, driven by improved restaurant performance, network expansion, and strong delivery and other business growth.

• Operating profit rose 118.9% year-over-year to $8.1 million, with operating margin improving to 3.7%.

• Net results were impacted by significant foreign exchange losses, resulting in a net loss of $1.9 million for Q2 2026, compared to a profit last year.

• Store network expanded to 129 locations across 14 countries, with guest visits up 5.2% year-over-year to 8.1 million.

• Delivery and other business lines posted triple-digit growth, enhancing revenue diversification.

Financial highlights

• Total revenue: $218.8 million (+10% YoY); Haidilao restaurant revenue: $197.8 million (+4.6% YoY).

• Delivery revenue: $7.6 million (+105.4% YoY); other business: $13.4 million (+119.7% YoY).

• Operating profit: $8.1 million (+118.9% YoY); operating margin: 3.7% (up 1.8pp YoY).

• Net loss after tax: $1.9 million (vs. net profit of $16.4 million last year), mainly due to FX loss.

• Operating cash flow: $28.2 million; cash and cash equivalents: $147.7 million at period end.

Outlook and guidance

• Double-digit new store openings targeted for H2 2026, mainly in North America, East Asia, and Southeast Asia.

• No uniform price adjustments planned; pricing to be market-specific and value-driven.

• Focus on converting customer traffic into higher per-store sales and profitability, with ongoing investments in employee development and operational efficiency.

• Diversification into delivery and other business lines expected to provide new growth momentum.

• Emphasis on quality and long-term returns for new stores, with continued network optimization.