TH International reports Q2 adjusted EPS (RMB 0.30) vs. (RMB 0. 56) last year

Reports Q2 revenue RMB 366.8M vs. RMB 411.7M last year. Registered loyalty club members totaled 21.4 million members as of June 30, 2024, representing a 45.4% increase from the same quarter of 2023.Y ongchen Lu, CEO & Director of Tims China, commented, “Tims has achieved a critical milestone in the second quarter, as we achieved adjusted corporate EBITDA profitability for the first time in our corporate history. This result was driven by an intense focus on our core strengths of delivering guests great value for money and a differentiated fresh food offering, coupled with continuous improvements in operational efficiency. This important milestone comes as we deliver eight consecutive quarters of adjusted store EBITDA profitability, with our highest ever adjusted store EBITDA margin of 10.3%. Our focus on profitable growth has included greater emphasis on building our franchise network, collaborating closely with our sub-franchisees to provide them with compelling unit economics while delivering our guests a consistent experience and driving our bottom-line profit. Our efforts are paying off not just in our improving profitability but in the strength of our sub-franchisees pipeline, which stands at over 3,600 applications as of the end of June.”