Media centre

All Group media enquiries should be directed to
Vanessa Maydon, Corporate Affairs Director.

Cinven Partners LLP
Warwick Court
Paternoster Square
London EC4M 7AG

Tel: +44 (0)20 7661 3325
Mob: +44 (0)7802 961 902
Email: Vanessa Maydon

Press releases

Gondola
7 October 2013

Audited Results for the 52 weeks ended 1 July 2013

Strong Results; significant brand developments; positive trading momentum

Gondola Group, the UK’s market leader in casual dining which operates PizzaExpress, Zizzi, ASK Italian and Byron, today announces its results for the 52 weeks ended 1 July 2013.

  2012* (£m) 2013 (£m) Change (%)
Total Sales 580.1 604.2 +4.2
Restaurant Sales 566.3 590.2 +4.2
EBITDA 105.8 112.2 +6.0
Trading EBITDA** 99.9 112.2 +12.3%
EBITDA margin 18.2% 18.6% +0.4 ppts
* restated to 52 weeks ** excluding property income

Highlights:

  • Strong performance across all brands with sales up 4.2% and trading EBITDA up 12.3%, from prior year
  • Estate growth during the year with 21 openings in the UK and 11 internationally (including Shanghai, Jakarta, Kuwait City, Bahrain, Jordan, Dubai and Mumbai)
  • Total estate now 752 sites; 696 in UK & Ireland and 56 international
  • Substantial progress achieved across all brands:
  • PizzaExpress: positive momentum in UK and international expansion accelerated, with 477 sites now in operation globally
  • Zizzi: completed re-positioning, which is driving strong performance
  • ASK Italian: estate optimised, transformation well underway and delivering profit growth
  • Byron: breakout year including successful expansion outside London with strong openings in Oxford, Cambridge, Manchester and Liverpool
  • Successful Amend & Extend completed with existing debt facilities extended to January 2018;
  • Strong cash flows have enabled £22m of debt repayment. Leverage reduced to below 4.3x EBITDA, down from 6.3x when the business was taken private in 2007
  • In the year to 30 June 2014, plans to open at least 35 new sites in the UK and to accelerate international growth with more openings in China/Hong Kong (taking total sites in that region to over 20 by the year end), India, Indonesia and the Middle East
  • Early signs of recovery in the broader economy with Gondola well-placed for future growth

Commenting, Harvey Smyth, Chief Executive of Gondola Group said:
“We have delivered a good performance this year, with growth in sales, profits and margins, highlighting the strength and enduring appeal of our offer. Our performance continues to benefit from our outstanding brands, dedicated teams and exciting opportunities both in the UK and internationally.

“There are encouraging early signs of recovery in the trading backdrop and we are well-positioned to benefit from any further upturn in market conditions. Overall, we are confident of achieving further significant progress in the current year and the long-term growth drivers of our business remain compelling.”

 

Portfolio company videos

 Clinical Trials

Bioclinica

Clinical Trials

 Travel services provider

Hotelbeds Group

Travel services provider

 Truck component manufacturer

Jost

Truck component manufacturer

 Footwear and accessories retailer

Kurt Geiger

Footwear and accessories retailer

 Contract research organisation

Medpace

Contract research organisation

 Electronic security and alarm systems

Pronet

Electronic security and alarm systems

 Property valuation and advisory services

Tinsa

Property valuation and advisory services

 Ufinet is a neutral telecom operator.

Ufinet

Ufinet is a neutral telecom operator.

 Business services software

Visma

Business services software

Media contacts

Cinven

Vanessa Maydon
Corporate Affairs Director
Tel : +44 (0)20 7661 3325
Mob : +44 (0)7802 961 902
Email : Vanessa Maydon

Clare Bradshaw
Communications Manager
Tel : +44 (0)20 7667 3248
Mob : +44 (0)7881 918 967
Email : Clare Bradshaw

UK - FTI Consulting

Edward Bridges
Tel : +44 (0)20 7269 7147
Mob : +44 (0)7768 216 607
Email : Edward Bridges

Stephanie Ellis
Tel : +44 (0)20 3727 1173
Mob : +44 (0)7890 543 056
Email : Stephanie Ellis

France โ€“ FTI Consulting

Guillaume Granier
Tel : +33 (0)1 47 03 68 61
Mob : +33 (0)6 32 65 79 28
Email : Guillaume Granier

Caroline Guilhaume
Tel : +33 (0)1 47 03 68 17
Mob : +33 (0)6 38 91 88 51
Email : Caroline Guilhaume

Germany - FTI Consulting

Lutz Golsch
Tel : +49 (0)69 920 37 110
Mob : +49 (0)173 651 7710
Email : Lutz Golsch

Daniel Herbert
Tel : +49 (0)69 920 37 183
Mob : +49 (0)151 122 63834
Email : Daniel Herbert

US - Joele Frank

Jonathan Keehner
Tel : +1 212.355.4449
Mob : +1 917 589 2073
Email : Jonathan Keehner

Julie Oakes
Tel : +1 212.355.4449
Mob : +1 917 574 7263
Email : Julie Oakes

Spain โ€“ Groupo Albion

Alejandra Moore Mayorga
Tel : +34 91 531 23 88
Email : Alejandra Moore Mayorga

Sofia Garcia
Tel : +34 91 531 23 88

Italy โ€“ Community Group

Roberto Patriarca
Tel : +39 02 89 40 42 31
Mob : +39 335 65 09 568
Email : Roberto Patriarca

Marco Pedrazzini
Tel : +39 02 89 83 66 21
Mob : +39 347 0369 222
Email : Marco Pedrazzini