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Sober news for the Vapiano restaurant chain. By 2018 everything else was good for restaurants based in Austria offering fast and casual Italian cuisine. The chain of pizza and pasta slips into the red.
According to reports, the shares of the German restaurant chain fell by 10% to 6.85 euros. In Austria, the group recorded a loss of 1.7 million euros last year with a gross profit of 19.9 million euros.
The chain was thwarted this year by weak business in Europe. About 13.2 million euros of losses are mentioned.
The previous year, the group had generated a profit of 1.6 million euros. These reasons were in addition to higher amortization due to higher investment and interest expense due to Vapiano's expansion with new restaurants and acquisitions.
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