DPC: Dominos Pizza China releases 2023 annual report

Hong Kong / HK. (dp) DPC Dash Limited (Domino’s Pizza China), exclusive master franchisee of Domino’s Pizza Inc. in the People’s Republic of China, the Hong Kong Special Administrative Region of China, and the Macau Special Administrative Region of China, released its 2023 annual report. The report contained a message to shareholders from Chairman Frank Paul Krasovec and Chief Executive Officer Aileen Wang.

«Against the backdrop of our successful initial public offering on the Hong Kong Stock Exchange, 2023 was a year of growth, showcasing our commitment to serving the tastes and demands of Chinese consumers,» DPC Dash Chairman Krasovec, and CEO and Executive Director Wang, stated in the report. «During 2023, we strategically expanded our store network while maintaining our sharp focus on efficiency enhancements. As a result of these efforts, we are pleased to be able to report that the Group delivered revenues of RMB 3.05 billion and adjusted net profit of RMB 8.8 million for the year ended December 31, 2023.»

DPC Dash 2023 performance highlights the Company’s market leadership and validates its «go deeper, go broader» strategy, which have laid foundations for future growth. DPC Dash has now delivered positive same-store sales growth for 27 consecutive quarters since the third quarter of 2017, when the current management team started its tenure.

Operational excellence remains a core focus for DPC Dash. Underlining the popularity of DPC Dash menu offerings, each of the top 19 stores in Domino’s global system for first-30-day sales ranking are in China. The Company was recognized for its commitment to building fulfilling, long-term careers for people when it was included in the Kincentric 2023 China Best Employers, the second consecutive year DPC Dash has won this accolade.

«Building on the growth momentum of 2023, we are dedicated to further expanding and strengthening our business to capture more opportunities in China’s largely untapped pizza market,» Krasovec and Wang said in the statement. «As of March 31, 2024, our operational footprint spanned 835 stores across 30 cities, and we anticipate net openings of approximately 240 new stores during 2024. Our next milestone is reaching the 1,000-store mark, a target we aim to reach by the end of the fourth quarter of 2024. Looking further ahead, we expect to open approximately 300-350 stores in both 2025 and 2026.»

«2023 was an important year in our corporate history. With our differentiated products, unique positioning, and focused, scalable, and replicable store economic model, we are well placed to deliver long-term, sustainable value for our shareholders,» Krasovec and Wang added.