Tortilla Mexican Grill (MEX) Q4 2025 TU earnings summary

Executive summary

• Achieved record UK profitability in FY25, with strong revenue growth and market outperformance.

• Early trading from converted French stores showed significant transaction and sales uplifts.

• Positive start to 2026, with UK sales outperforming the market in the first three weeks.

Financial highlights

• Group revenue for FY25 reached £73.8m, up 8.5% year-over-year.

• Total Group system sales were £98.3m, a 9.2% increase versus FY24.

• UK like-for-like sales grew 6.2% for the year, outperforming the CGA benchmark decline of 1.3%.

• Adjusted EBITDA (pre-IFRS 16) for FY25 expected in line with management expectations.

• Adjusted net debt (pre-IFRS 16) was £10.7m at period end.

Outlook and guidance

• Board expects continued improvement in FY26 over FY25.

• Ongoing cost headwinds and UK employment pressures may impact consumer demand; pricing will be reviewed.

• Investment in menu, brand, and technology to support growth.