DP Eurasia reports 44.1% decline in its 2020 core profit due to COVID restrictions
It forecasts positive like-for-like growth in Turkey and Russia this year.
DP Eurasia, the operator of Domino’s in Turkey and Russia, experienced a 44.1% decline in its 2020 core profit after COVID-related restrictions weighed down its operations.
The London-listed company said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 69.6 million Turkish lira (US$8.91 million) from 124.5 million lira the year before.
Adjusted net loss fell to 87.1 million lira from a profit of 2.9 million lira a year earlier as the pandemic limited its operations, despite home delivery helping to stem losses.
“The Turkish business performed very strongly from a top line point of view, especially with record-breaking like-for-like growth rates in the second half of the year,” DP Eurasia CEO Aslan Saranga said in an update, adding that 2020 saw them surpass the 75% milestone for the group’s online delivery system sales as a percentage of total delivery system sales.
DP Eurasia said it sees like-for-like growth of 12-15% for the year in Russia and 21-25% in Turkey this 2021.
