Recent Research

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  FIRST LOOK NOTES

  01 Aug 2025

  Americana Restaurants

  BUY

  Last Closing Price

  2.15

  Target Price

  2.95

  Upside (%)

  +37.21%

  UAE Equity Research- Americana Restaurants - 2Q25 First Look Note

  Integrated 46 additional restaurants into Pizza Hut Oman, in addition to 36 gross openings across 1H25. Plans to add 150-160 net new stores in 2025. Signed a franchise agreement with Carpo, securing exclusive rights to build and operate Carop stores in Kuwait and Qatar.

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• 

  EARNINGS CALL INSIGHT

  31 Jul 2025

  Americana Restaurants

  BUY

  Last Closing Price

  2.15

  Target Price

  2.95

  Upside (%)

  +37.21%

  UAE Equity Research- Americana Restaurants - 2Q25 Earnings Call Insight

  Americana Restaurants revenue rose 15.1% YOY to USD 644 Mn in 2Q25, primarily supported by operational efficiency and strong brand performance. The Company reported 15.2% YOY growth in gross profit to USD 347 Mn in 2Q25 as compared to USD 301 Mn in 2Q24. Gross profit margin marginally increased 6 bps YOY to 53.9% in 2Q25.

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• 

  FIRST LOOK NOTES

  05 May 2025

  Americana Restaurants

  BUY

  Last Closing Price

  2.11

  Target Price

  2.70

  Upside (%)

  +27.96%

  UAE Equity Research - Americana Restaurants International PLC (AMR) 1Q25 - First Look Note

  Plans to add 150-160 stores in 2025, including the opening of 14 stores in 1Q25. It ended 1Q25 with 2,630 restaurants, including the addition of 46 Pizza Hut stores in Oman. Americana focuses its expansion efforts on key markets including the UAE, Saudi Arabia, Kuwait, and Iraq.

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  EARNINGS CALL INSIGHT

  02 May 2025

  Americana Restaurants

  BUY

  Last Closing Price

  2.23

  Target Price

  3.00

  Upside (%)

  +34.53%

  UAE Equity Research - Americana Restaurants International PLC (AMR) 1Q25 - Earnings Call Insight

  Americana Restaurants revenue rose 16.2% YOY to USD 573 Mn in 1Q25, primarily supported by growth in like-for-like sales, and continued expansion of the store network. The Company reported a gross profit of USD 303 Mn in 1Q25 as compared to USD 254 Mn in 1Q24, an increase of 19.2% YOY, fueled by effective management and procurement strategies. Gross profit margin expanded from 51.5% in 1Q24 to 52.8% in 1Q25.

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• 

  FIRST LOOK NOTES

  17 Feb 2025

  Americana Restaurants

  BUY

  Last Closing Price

  2.60

  Target Price

  3.15

  Upside (%)

  +21.15%

  UAE Equity Research - Americana Restaurants International PLC (AMR) 4Q24 - First Look Note

  By the end of 2024, Americana expanded its total portfolio to 2,590 restaurants, opening 213 gross new stores and 155 net new stores, with 183 of these dedicated to power brands (KFC, Pizza Hut, Hardee’s). Americana expanded into new markets like Kazakhstan, Morocco, and Iraq during FY2024.

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• 

  EARNINGS CALL INSIGHT

  14 Feb 2025

  Americana Restaurants

  BUY

  Last Closing Price

  2.59

  Target Price

  3.15

  Upside (%)

  +21.62%

  UAE Equity Research - Americana Restaurants International PLC (AMR) 4Q24 - Earnings Call Insight

  Americana Restaurants revenue rose 14.1% YOY to USD 589 Mn in 4Q24, driven primarily by LFL growth and newly opened stores during FY2024. The Company reported a gross profit of USD 315 Mn in 4Q24 as compared to USD 270 Mn in 4Q23, an increase of 16.7% YOY, fuelled by favourable commodity prices and effective management and procurement strategies. Gross profit margin also expanded from 52.4% in 4Q23 to 53.5% in 4Q24.

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