Super Hi International Holding (9658) Q4 2024 earnings summary

Executive summary

• Achieved total revenue of $778.3 million in 2024, up 13.4% year-over-year, with Q4 revenue at $208.8 million, up 10.4% year-over-year.

• Net restaurant count increased by 7 to 122 locations by year-end 2024, with international expansion and 10 new stores opened.

• Guest visits rose 9.6% in Q4 and 12.0% for the year, supported by network expansion and group dining initiatives.

• Enhanced employee engagement, customer experience, and digital engagement, with overseas membership exceeding 6 million.

• Launched the Red Pomegranate Initiative to foster innovation, diversify business models, and support group growth.

Financial highlights

• Restaurant operating revenue reached $747.3 million (96% of total), up 13% year-over-year.

• Takeaway revenue rose 15.3% to $11.3 million; other business revenue grew 27.9% to $19.7 million.

• Q4 operating profit was $17.5 million, up 44.5% year-over-year; Q4 operating profit margin was 8.4%, up 2 percentage points.

• Full-year operating profit margin at 6.8% (adjusted for non-operating factors), meeting internal targets.

• Full-year net profit was $21.4 million, down 15.4% year-over-year, mainly due to significant foreign exchange losses.

• Cash and cash equivalents at year-end were $255 million, up 66.7% from 2023.

Outlook and guidance

• Plans to open more stores in 2025 than in 2024, with at least 10 new hot pot and 2 barbecue restaurants already signed.

• Focus on global expansion, optimizing store layout, and supporting the 'Pomegranate plan' for business diversification.

• Continued emphasis on operational efficiency, customer experience, and innovation in new business formats.