December 15, 2016 / 10:45 AM / 7 months ago

BRIEF-Mex Polska changes 2015-2019 strategy, hikes financial forecast

2 Min Read

Dec 15 (Reuters) - Mex Polska SA :

* Said on Wednesday that under its changed 2015-2019 strategy, it plans to increase its "Pijalnia Wodki i Piwa" points to 36 from 21 and "Pan Kejk" restaurants to 10 from 1 in 2019

* Plans no changes in the number of "The Mexican" restaurants

* Sees now FY 2017 revenue of 72.9 million zlotys ($17.21 million), EBITDA of 8.9 mln zlotys and net profit of 5.7 mln zlotys versus previously forecasted 65.9 mln zlotys, 8.1 mln zlotys and 4.8 mln zlotys respectively

* Sees now FY 2018 revenue of 88.7 million zlotys, EBITDA of 11.0 mln zlotys and net profit of 7.1 mln zlotys versus previously forecasted 73.5 mln zlotys, 8.9 mln zlotys and 5.4 mln zlotys respectively

* Sees now FY 2019 revenue of 104.1 million zlotys, EBITDA of 12.9 mln zlotys and net profit of 8.5 mln zlotys versus previously forecasted 81.0 mln zlotys, 9.7 mln zlotys and 6.1 mln zlotys respectively

* Financing to be based on franchising and own investment backed up by an investment loan

* Mex Polska to invest directly up to 8 mln zlotys and only in selected localisations

* Management to recommend a dividend yield no lower than 5 pct, similar to 2015 levels

* Plans to reduce management costs to 6 pct from 8 pct

Source text for Eikon:

Further company coverage:

$1 = 4.2363 zlotys $1 = 4.2368 zlotys Gdynia Newsroom

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