Sticks’n’Sushi has reported a record year, with total revenues hitting £57m across the UK, Denmark and Germany.
Revenues in the UK surpassing those of Denmark, employee retention and a popular takeaway offering were said to have driven the strong results.
Sticks’n’Sushi ends the financial year 2020/2021 with EBITDA of £5.9m, corresponding to 10.2% of turnover.
Founded in Copenhagen in 1994, the sushi restaurant chain operates 12 restaurants in Denmark, nine in the UK and soon to be three in Germany.
The company said UK market had been crucial to the result, with the launch of four delivery only kitchens a key factor.
Andreas Karlsson, CEO of Sticks’n’Sushi, said: “We opened our first location in London in March 2012, and we are starting to feel the effects of the hard and persistent work on a fiercely competitive market. Today our British restaurants have overtaken the Danish market in terms of revenue, and I expect it to remain our largest market in 2022.”
The company said its takeaway offering proved a hit with consumers while restaurants were closed.
Anders Kjørup, COO of Sticks’n’Sushi, said: “There were long periods where people weren’t able to visit restaurants, but still wanted a restaurant-like experience. I believe we struck the right balance between taste, aesthetics, and convenience. This has been an important learning for us going forward we will continue developing our takeaway offerings.”
According to CEO Andreas Karlsson, Germany will be the main focus in 2022 with an ambition to expand and establish the brand further in the German capital.
The chain will consolidate their Danish business and keep building on the excellent growth on the UK market.
Karlsson added: “We created a strong brand in the UK and in Denmark. It is our ambition to establish the same presence and brand in Berlin. We have opened two restaurants with a third on its way and are actively seeking a fourth and fifth location. Across all three markets we want to strengthen the business, ensure that our products are innovative and further develop our employees who have been crucial for our good results in the past year.”
