llaollao triumphant in the Philippines: Exceeds growth expectations with 51 outlets in 2023, almost tripling its presence

llaollao Headquarters, registered in Spain, closed 2023 with an EBITDA of 10.3 million euros, achieving the best result in its history.

• Total global sales figure to the end customer has risen to ?104.5, establishing itself as the Spanish brand with the strongest presence in the country
• The Spanish group achieved a net turnover of ?41.3 million and continued to strengthen its balance sheet in 2023, with a particular emphasis on the low level of financial indebtedness (debt with credit institutions is only ?0.3 million) and the high cash generation
• The positive evolution of all areas of activity, particularly the increase in sales across all its key markets, has been the main reason behind these figures
• In 2023, llaollao opened 93 new points of sale globally (almost 2 stores per week), bringing the total number of establishments to 397 by the end of the year 2023

MANILA, Philippines, May 21, 2024 /PRNewswire/ -- llaollao, the Spanish group that owns the leading frozen yogurt brand, ended 2023 surpassing its business objectives and closing the year with record figures in all key aspects of its financial statement.  This is a historic milestone for the company that confirms the success of its strategy in recent years. Accordingly, llaollao concluded the period with a net turnover of ?41.3 million, representing a 43% increase over 2022.  EBITDA reached ?10.3 million, marking a 46% increase compared to the figure achieved in 2022 (which was ?7.1 million).

The announced figures demonstrate significant growth compared to the previous year, which is once again the result of strong financial growth and efficient operational management. Moreover, the company has exceeded its own expectations by surpassing the budgeted EBITDA (the announced target was to achieve ?8.5 million), and has thus reaffirmed its ability to adapt and exceed ambitious goals.

These numbers are framed within a healthy balance sheet with virtually zero indebtedness (the debt at the end of last year with credit institutions was only ?0.3 million, showing responsible resource management). Llaollao has benefited from its liquidity generation capacity due to its high cash flow, which has enabled organic investments with new openings and an increased presence in strategic markets. Additionally, thanks to this, the Group was able to explore and develop new alternative business avenues in 2023 to capitalize on this differentiating characteristic and expand its product portfolio.

Regarding the total global sales figure to the end customer in 2023 (which includes the total sales generated by both company-owned stores and franchise and master franchise arrangements internationally), it reached ?104.5 million, comparing very positively with the ?79.9 million from twelve months earlier (representing a 31% growth) and the ?100 million estimated by the company itself. 55% of these sales came from outlets located in Asia and 40% in Europe.

In summary, in 2023, llaollao once again surpassed the record figures achieved the previous year and clearly reinforced its leading position.

Pedro Espinosa, co-founder and CEO of llaollao, commented: "We are very pleased with the financial performance in 2023. Last year was a period of growth and strengthening for our company, confirming that we are on the right path, and we have adopted an appropriate strategy. We are eager to continue innovating and expanding our business in the future."

"The results of llaollao in 2023 confirm our commitment to operational excellence, product quality, and customer satisfaction, and thus consolidate our position as an industry leader. As we have stated before, the brand will continue to generate a profit and increase market share through solid organic growth with new openings. Furthermore, these figures reinforce our intention to continue analyzing all growth opportunities in new markets that make strategic sense, always prioritizing the profitability of our points of sale," concludes Pedro Espinosa.

Store locations: strong expansion in Asia with close to 400 outlets globally.

At the end of 2023, the Spanish brand had established 396 stores globally, representing a 34% growth. In Spain, it has 145 points of sale, 50% of which (72) are company-owned stores managed directly by the business group.

Additionally, the company has significantly increased its international presence since 2022, especially in markets considered more relevant and with greater potential for the brand's future. Currently, llaollao has a prominent presence in Malaysia (where it opened its 100th store in 2023, now exceeding 118 establishments, making it the Spanish food & beverage brand with the highest presence in the country), Indonesia (with 26 points of sale, a 45% increase in one year), Singapore (with 12 points of sale), and the Philippines (with 51 locations, nearly tripling its presence since 2022 and also establishing itself as the Spanish brand with the strongest presence).

With 217 open points of sale, Asia has the highest presence of llaollao measured by the number of establishments. In this geographical region, frozen yogurt enjoys a fantastic reception, and the brand has very high visibility, providing significant growth potential and attractive development prospects. Furthermore, our brand has also consolidated its presence in the Americas with 22 points of sale after opening three new establishments on the continent (two in El Salvador, where it now has a total of 13, and one additional store in Bolivia).

Press contact:

Kreab
Jose Luis Gonzalez Garcia
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Paola Luelmo
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