ZAMP (ZMMP.Y) Q2 2024 earnings summary
Event summary combining transcript, slides, and related documents.
Q2 2024 earnings summary
2 Feb, 2026Executive summary
Net operating revenue reached R$1.1 billion in Q2 2024, up 19% year-over-year, driven by strong same-store sales, digital growth, and operational improvements.
Adjusted EBITDA ex-IFRS 16 rose 43% to R$90.5 million, reflecting operational leverage and effective cost management.
Digital sales accounted for 51% of total sales, up 30% year-over-year, with self-service kiosks and delivery as key drivers.
Net loss narrowed by 57% to R$28 million compared to Q2 2023.
Management highlights successful commercial strategies, digitalization, and leadership changes positioning the company for future growth.
Financial highlights
Same-store sales increased 16.2% for Burger King and 7.2% for Popeyes in Q2 2024.
Gross margin improved by 12 basis points to 65% year-over-year.
Operating cash flow increased to R$81.7 million in Q2 2024 from R$54.7 million in Q2 2023.
CapEx was R$70.8 million, a reduction of R$20 million year-over-year, mainly for store openings and maintenance.
Net debt stood at R$880.6 million, with a leverage ratio of 2.2x net debt/EBITDA.
Outlook and guidance
Focus remains on sales and traffic growth through commercial strategy, innovation, and digital channels.
Continued investment in customer experience, both physical and digital, and ongoing restaurant modernization.
Efficiency and operational leverage are key priorities, with ongoing simplification of corporate structure.
Organic growth targeted through new store openings, especially freestanding formats; 35-45 Burger King openings expected in 2024.
Inorganic growth opportunities, including potential Starbucks incorporation and scalable brand acquisitions, are being explored.
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