Restamax Plc: RESTAMAX TO EVALUATE THE LISTING OF ITS SUBSIDIARY SMILE HENKILÖSTÖPALVELUT OY ON THE NASDAQ HELSINKI STOCK EXCHANGE
STOCK EXCHANGE RELEASE 13 March 2018 9:58 a.m.
RESTAMAX TO EVALUATE THE LISTING OF ITS SUBSIDIARY SMILE HENKILÖSTÖPALVELUT OY ON THE NASDAQ HELSINKI STOCK EXCHANGE
The Board of Directors of Restamax Plc has decided to review and evaluate the listing of the labour hire business comprising its subsidiary Smile Henkilöstöpalvelut Oy and its subgroup on the Nasdaq Helsinki Ltd Stock Exchange. The evaluation process will be carried out during spring 2018.
In 2017, the turnover of Restamax Plc's labour hire business was MEUR 75.6, up 121.5% on the previous year, EBITDA was MEUR 6.6, an increase of 91.9% on the previous year, and operating profit was MEUR 3.8, an increase of 140.1% on the previous year. Smile Henkilöstöpalvelut has been part of the Restamax Group since August 2014.
"The rate of growth of the labour hire business has been much faster than the general development of the sector and our restaurant business. Growth has been achieved both organically and through acquisitions. In the 2015 financial year, the turnover of the labour hire business was MEUR 24.2, and in 2017 it reached MEUR 75.6. The potential listing will make it possible for Smile Henkilöstöpalvelut to strengthen its own balance sheet and to grow even more quickly into one of Finland's largest labour hire companies," says Timo Laine, Restamax's founder and Chairman of the Board.
Restamax's goal is to reach a turnover of approximately MEUR 400 by the end of 2020 after internal eliminations. The goal of the restaurant segment is to reach a turnover of approximately MEUR 200, and the goal of the labour hire segment is to reach a turnover of approximately MEUR 220 by the end of 2020.
Board of Directors
Timo Laine, Chairman of the Board of Directors, Restamax Plc, tel. +358 400 626 064
Jarno Suominen, CFO, Restamax Plc, tel. +358 40 721 5655
Restamax Plc is a Finnish restaurant business and labour hire services group established in 1996. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include more than 130 restaurants, nightclubs and entertainment centres all over Finland. Well-known restaurant concepts of the Group include Stefan's Steakhouse, Viihdemaailma Ilona, Classic American Diner and Colorado Bar & Grill. In 2017, Restamax Plc's turnover was MEUR 185.9 and EBITDA MEUR 22.4. Depending on the season, the Group employs approximately 2,250 people converted into full-time workers. Restamax's subsidiary Smile Henkilöstöpalvelut Oy employs approximately 9,000 people per month.
Restamax company website: www.restamax.fi, Restamax consumer website: www.ravintola.fi, Smile Henkilöstöpalvelut: www.smilepalvelut.fi