Charlotte / NC. (kkd) Krispy Kreme Doughnuts Inc., indirect member of Luxembourg’s JAB Holding, reported financial results for the fourth quarter and full year ended December 31, 2023. Fourth quarter highlights versus Q4-2022:
- Net revenue grew 11.4 percent to USD 450.9 million
- Organic revenue grew 13.2 percent to USD 446.0 million
- GAAP net income of USD 1.9 million
- GAAP net income attributable to KKI of USD 2.6 million
- Adjusted Ebitda increased 14.7 percent to USD 64.1 million
- Adjusted Ebitda margins improved 40 basis points to 14.2 percent
- Global Points of Access increased 2,310, or 19.5 percent to 14,147
«We reported strong double-digit fourth quarter and full-year organic revenue growth in excess of our guide,» said CEO Josh Charlesworth. «Our growth was driven by strong consumer demand in all sales channels and increased access to our fresh doughnuts around the world. We improved profitability as we grew, showing the productivity benefits of our unique Hub and Spoke operating model.
«Moving forward, we are modernizing the making and moving of doughnuts to ensure high quality, profitable growth. We are largely supplying expansion from existing capacity whilst making selective investments in geographies which have limited access to Krispy Kreme. This reflects our confidence in further scaling the Delivered Fresh Daily network in new channels, including Quick Service Restaurants. I look forward to us building a bigger and better Krispy Kreme.»
For additional information please read the Company’s PDF file below (153 KB):
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