VAPIANO SE announced earnings results for the second quarter and six months of 2017. For the quarter, the company reported net sales (Corporate and consolidated Joint Venture Restaurants) of EUR 78.2 million compared to EUR 55.0 million a year ago. Adjusted EBITDA was EUR 8.9 million compared to EUR 6.0 million a year ago. Reported EBITDA was EUR 3.0 million compared to EUR 5.4 million a year ago. Cash outflow from operating activities was EUR 1.2 million compared to cash inflow from operating activities of EUR 4.0 million a year ago.

For the six months, the company reported net sales (Corporate and consolidated Joint Venture Restaurants) of EUR 153.6 million compared to EUR 109.0 million a year ago. Adjusted EBITDA was EUR 15.9 million compared to EUR 10.4 million a year ago. Reported EBITDA was EUR 6.5 million compared to EUR 8.6 million a year ago. Cash flow from operating activities was EUR 3.2 million compared to EUR 7.0 million a year ago.

The company provided earnings guidance for the full year of 2017. Net sales are expected to rise to between EUR 315 million and EUR 335 million in 2017 (an increase of 24% to 33% compared to 2016), with like-for-like sales projected to increase by between 3% and 5%. Profitability, measured in terms of adjusted EBITDA excluding pre-opining costs, is expected to increase further to reach between EUR 38 million and EUR 40 million. Compared to the previous year, this represents an increase of between 31% and 38%.