Blackburn / UK. (biegg) British EG Group is pleased to announce a trading update for the first quarter of 2022, representing the three months to March 31, 2022. First quarter performance highlights:
- Group Ebitda for Q1 2022 increased by 2.0 percent to USD 270 million on a reported basis year-on-year, and 2.1 percent on a like-for-like basis, primarily driven by continued growth in Foodservice, alongside the impact of macro-changes in the wholesale fuel market on EG’s Fuel operations.
- Strong performance in Foodservice operations, with gross profit increasing by 54 percent year-on-year to USD 175 million and up 20 percent on a like-for-like basis. Growth in Foodservice continues to be supported by the Group’s pipeline of openings and investment in EG’s existing estate.
- Grocery + Merchandise gross profits of USD 293 million remained broadly consistent with the prior year, increasing by 0.8 percent on a reported basis. Margins remained consistent with the prior comparable period despite rising wholesale and goods distribution costs.
- Fuel gross profit for the quarter increased by 16 percent to USD 481 million on the prior comparable period last year but gross profit margins marginally reduced compared with the quarter ending December 21, 2021, partially driven by increased market volatility due to the impact of geopolitical events on wholesale oil prices and demand.
For additional information please read the Company’s PDF file below (274 KB):20220528-EG-GROUP-Q1-2022