TAB Gıda/Çetinkaya: Our Revenues Soared 64% to Reach 30.1 Billion TL in the First Nine Months of 2024

In the first nine months of 2024, TAB Gıda reported overall system sales, including both its own operations and franchise restaurants, reaching 30.1 billion TL, marking a 64% increase compared to the previous year. As one of the leading brands in the industry, TAB Gıda achieved real revenue growth year-on-year during this nine-month period, exceeding expectations in terms of margins. The company's total revenue reached 22.9 billion TL, while its EBITDA rose to 4.9 billion TL, reflecting a 4% real increase compared to the previous year.

Özgür Çetinkaya, Co-CEO of TAB Gıda, expressed his assessment of the company's financial and operational results: "In the first nine months of 2024, our overall system revenues increased by 64, reaching 30.1 billion TL. With this strong performance, we have increased our revenues and EBITDA in real terms. Our EBITDA margin has increased beyond expectations both on a quarterly basis and over nine months, reaching 23.1% with a 1.3 percentage point rise in the third quarter. These results demonstrate the positive impact of our customer and quality-focused efficient operations. In the first nine months of 2024, we strengthened our balance sheet by increasing our total assets in real terms by 10%. We also achieved an 11% growth in our equity. Thanks to our strong cash position, we have enhanced the resilience of our balance sheet. Furthermore, we have no foreign currency debt on our balance sheet. Continuing our investments, we opened a total of 182 new restaurants during the nine-month period, including 76 in the third quarter, bringing our total number of restaurants to 1,781. This indicates that we opened a new restaurant on average every business day. By the end of the third quarter, the share of our franchise restaurants in our portfolio reached 45%. We continue to create a balanced model between our owned operations and franchise locations, which contributes to our sales and profitability while playing a critical role in strengthening our market share."

Özgür Çetinkaya emphasized that digital transformation plays a significant role in TAB Gıda's growth, also enhancing their operational efficiency: "Through technology-driven initiatives, we are creating a more comfortable environment for our customers in our restaurants and improving their experiences. Our commitment to digitalization is supporting our operational efficiency improvement goals and helping enhance our margins. As of the third quarter, we have installed a total of 1,120 self-service ordering screens in our restaurants, continuing to replace traditional ordering methods with high technology. This allows our customers to place their own orders, offering a faster and easier ordering experience. Additionally, during this period, we have achieved strong results in our home delivery orders. In the nine-month period, we reached 35.2 million checks in takeaway orders, reflecting an 11% increase. Thanks to our focus on digitalization, our digital sales now account for more than 30% of our total sales."

Çetinkaya noted that they are accelerating restaurant renovations as part of their growth strategies, stating, "We are progressing towards our 2024 goals. While strengthening our market position, we continue to focus on maximizing our operational efficiency and achieving sustainable, profitable growth. We sincerely thank all our stakeholders: our franchisees, employees, business partners, and investors for their trust and support. Our collective efforts enable us to advance our vision and achieve success together."