Retail Zoo reports double digit EBITDA
Retail Zoo, the parent company of Boost Juice Bars, Boost International, Salsa’s Fresh Mex Grill and CIBO Espresso, has reported a fifth consecutive year of double-digit EBITDA* growth.
Retail Zoo’s EBITDA figure stands at $17.6 million, a growth of 24 percent in the last 12 months.
Since its acquisition of Adelaide’s espresso bar group CIBO Espresso in December 2012, Retail Zoo has reported a growth of 30 percent in network sales revenue, bringing its annual turnover to $221 million compared to $170 million this time last year. CIBO Espresso accounts for 22 stores in Adelaide and Brisbane.
The report also shows an increase of 34 percent in network sales (from $28.6 million to $39.6 million) and a 28 percent growth in store numbers for Salsa’s Fresh Mex.
Retail Zoo CEO, Scott Meneilly said the business has experienced a challenging retail environment but has had a steady performance overall.
“In the current environment, pressures change so the business needs to react to ensure momentum continues and we remain relevant to consumers.
“Retail Zoo has determined what works and how to support our franchise network to ensure our partners are profitable.
We’ve taken time to transition CIBO so we can expand into Melbourne, Sydney and Brisbane. Franchise enquiries are tracking nicely and we’re planning solid, conservative growth of the espresso bar concept. We plan to open one store per month for the next 12 months,” Meneilly said.
Fifty eight new stores opened in the Retail Zoo network from 1 July 2012 to 30 June 2013, bringing the number of stores to 350 globally.
* EBITDA is Earnings Before Interest, Taxes, Depreciation and Amortisation and reflects the net profit of the business.