EG Group has reported “a highly resilient performance” in 2022, in the face of macro-economic headwinds, achieving a group EBITDA increase of 1.9% to $1.46bn (£1.22bn) for the full year.
Total revenue rose by 25.1% to $33.04bn (£27.67bn), which included the contribution of recent acquisitions.
Zuber Issa, co-founder and co-CEO at EG Group, said the group had continued to expand its successful foodservice businesses, which include Leon and Cinnabon, “through disciplined investment in our unparalleled offering and ongoing innovation across proprietary and popular third-party brands”.
The group said its foodservice business continued to make “good progress”, with ongoing growth supported by an increase in outlets globally, and 88 new openings in the year across the group.
“The Grocery & Merchandise business also performed well in 2022 and customers continue to respond positively to our converted Asda On the Move convenience stores,” he said.
We again made good progress in Fuel against a highly competitive backdrop across our markets and are encouraged by our ongoing trial of ultra-fast chargers and infrastructure, evpoint, in the UK, as part of our energy transition plans to lower-carbon fuels.”
Issa added: “Looking ahead, we remain confident that EG is well-positioned to continue to outperform the wider market and execute on our strategic objectives. I would also like to thank our colleagues for their dedication, hard work and resilience over the past year.”
