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Weak European activities slowed down the Vapiano chain of restaurants in the first nine months of 2018. Overall, the pizza and pasta chain slipped into the red.
11:52, November 28, 2018
A reduction in the prognosis removes Vapiano the third biggest skid in its history. The shares of the German restaurant chain fell Wednesday by 10% to 6.85 euros. According to FirmenCompbad, Vapiano Restaurant Betriebs- und Beteiligungs GmbH in Austria recorded a loss of 1.7 million EUR in 2017 with a gross profit of 19.9 million EUR.
As of December 31, 2017, the Austrian operating company had negative equity of less than EUR 3.9 million. "Vapiano SE, Cologne issued on September 18, 2018 in favor of the Company an order of subordination amounting to EUR 4,000,000.00 and, on February 28, 2018, an irrevocable letter of reconciliation up to if the company no longer has its own funds the key figures of URG are respected, "says the financial statement 2017.
Loss of 13 million euros
In Austria, Vapiano Austria 2018 GmbH, Walfischgbade 11 "Moulin Rouge" Gastronomie GmbH and VAP Denmark II GmbH belong to the German Vapiano SE.
Weak European activities slowed down the Vapiano chain of restaurants in the first nine months of 2018. Overall, the pizza and pasta chain slipped into the red. The adjusted loss amounted to 13.2 million euros, as announced Vapiano Wednesday in Cologne. A year earlier, the company had made a profit of 1.6 million euros. The increase in depreciation due to higher investments and interest costs was the main reason for the expansion of Vapiano with new restaurants and acquisitions.
220 restaurants in 33 countries
The management of Vapiano had already lowered its targets for 2018 the previous night. Not for the first time: by September, the company had also reduced its forecasts due to a collapse of the Swedish market. The third quarter also suffered a loss.
From January to September, Vapiano increased sales by 15% to 271.4 million euros, thanks to new restaurants and acquisitions, but decreased by 0.3% at constant scope and exchange rates. While things have improved in Germany and outside of Europe, Sweden has remained a hard point after nine months.
As of September 30, the company operated 220 restaurants in 33 countries. Vapiano has opened 18 restaurants around the world in the first nine months. The offer to bring home and deliver at home Vapiano offers now at 120 locations in 16 countries.
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