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COVID-19 takes its toll on Alsea and its sales fall 33.4% in 2020

“The outcomes recorded final 12 months are considerably higher than initially anticipated, contemplating the affect of the pandemic on the trade,” the corporate mentioned in the doc.

The pandemic impacted the variety of models in operation and the consumption development that brought on adjustments in purchasing habits and affected the informal eating and household restaurant segments. This led the operator to shut 185 company models as a part of the technique to enhance profitability.

“As soon as the pandemic is beneath management and contingency measures are lifted, we anticipate a major improve in visitors in our eating places, which is able to generate a major restoration in sales,” said in the report Alberto Torrado, Government President of Alsea.

Alsea additionally reported that on the finish of the 12 months its complete debt elevated 6,830 million pesos, closing at 32,212 million pesos, which primarily corresponds to the necessity for liquidity to face the contingency of COVID-19, coupled with the unfavourable impact of about 1,700 million pesos because of the revaluation of the debt in euros because of the appreciation of mentioned forex towards the Mexican peso.

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Donna Miller

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