Applegreen Sees Profits Rise 30% In 2015
Forecourt retailer Applegreen has seen its gross profit rise 30% in FY2015, according to preliminary results issued this morning, 14 March.
Revenue rose 15.4% at the retailer to €1.08 billion. Adjusted EBITDA rose 26% from €23 million in 2014 to €28.9 million in 2015.
While its fuel revenue fell 12.1% at like-for-like levels, due to a decrease in oil prices during the year, Applegreen saw its food revenue grow 15.9% in the same period. The year saw a successful IPO raising of €66.3 million, net of expenses.
"In reporting our first full year results as a public company we are very pleased to announce a strong performance in 2015 with growth in both profitability and turnover delivered across each of the Republic of Ireland and the UK,” said Applegreen chief executive Bob Etchingham.
“This performance was driven by new site openings in both the latter part of 2014 and early 2015 as well as the increased contribution from food driven by our upgrade and rebranding programme."
Ethchingham added, “We have had a positive start to 2016, adding four Service Area sites and seven petrol filling stations to the estate and we continue to see good opportunities for green field and bolt-on expansion. Consumer sentiment is strong in both our key markets, particularly the Republic of Ireland, and we are confident that our distinctive retail offering in the forecourt sector will continue to deliver growth through 2016."
© 2016 - Checkout Magazine by Stephen Wynne-Jones