Alsea México's sales represented 56.1% of consolidated sales in the first quarter of 2024, registering an increase of 13.1%, up to US$ 593 million.

Alsea, operator of restaurants such as Domino's Pizza, VIPS, Foster's Hollywood or Starbucks in Spain and Latin America, has cut its net profit by 22% in the first quarter of the year compared to the same period of the previous year, leaving it with profits of US $25.7 million.

All in all, net sales have grown 2.7% year-on-year in this period, up to US$ 1,058 million, driven by the solid consumer trend and the preference towards its brands and effective commercial strategies mainly in Mexico and Spain, according to explained the company.

Alsea México's sales represented 56.1% of consolidated sales in the first quarter of 2024, registering an increase of 13.1%, up to US$ 593 million.

On the contrary, the company invoiced 2.4% less for its business in Europe, which represents just over 30% of its turnover, achieving revenues of US$ 318.8 million.

Meanwhile, Alsea invoiced 18.4% less year-on-year in South America. This fall is mainly due to the devaluation of the Argentine peso against the Mexican peso and a slowdown in consumption in the first months of the year.

For its part, the gross operating result (Ebitda) has been US$ 151 million, 12.4% higher than that registered in the first quarter of 2023. Meanwhile, the operating result has been US$ 95 million , 18.8% higher in interannual terms.

The general director of Alsea, Armando Torrado, has highlighted that the first quarter of 2024 has been "promising" for the company, driven by digital advances and the effective implementation of commercial strategies in all its regions.

"Despite the challenging exchange environment, mainly due to a strong Mexican peso and consumer pressures, mainly from France and South America, we managed to maintain sales growth," he highlighted.