Domino’s Pizza China has reported a 51 per cent increase in revenue for FY23, which exceeded the company’s previous expectations.
The chain’s revenue reached RMB3.05 billion (US$422 million), while adjusted EBITDA surged 117.7 per cent to RMB300 million. It also swung to an adjusted net profit of RMB8.8 million from a net loss of RMB113.8 million in FY22.
The company has achieved 26 consecutive quarters of positive same-store sales growth since the third quarter of 2017.
Domino’s Pizza China opened 180 net new stores and entered 13 new cities last year, ending the year with a network of 768 stores in 29 cities.
The company plans to add around 240 stores this year, reaching the 1000-store milestone by the fourth quarter. It plans to open 300 new stores per year in 2025 and 2026.
As of December 31, the loyalty membership numbers of the company reached 14.6 million, representing a 69.8 per cent growth from 8.6 million at the end of 2022.
Domino’s Pizza China is the exclusive master franchisee of the global Domino’s Pizza business in Mainland China, Hong Kong, and Macau. This is the company’s first audited annual results announcement since its IPO last year.
