Super Hi's 2024 Financial Results Showcase Growth and Strategy
Super Hi International Holding Ltd. Reports Financial Results
Super Hi International Holding Ltd. (NASDAQ: HDL and HKEX: 9658), a prominent name in the Chinese cuisine restaurant sector, especially known for its Haidilao hot pot restaurants, has recently unveiled its unaudited financial results for the fourth quarter and entire year of 2024. These results reflect the company’s commitment to expanding its market presence while enhancing the dining experience for its customers.
Fourth Quarter 2024 Financial Summary
The fourth quarter of 2024 has proven to be fruitful for Super Hi. The total revenue achieved during this period was US$208.8 million, marking a notable increase of 10.4% compared to US$189.2 million in the same quarter of 2023. This solid growth underscores the strategic expansions that the company has undertaken.
In terms of restaurant operations, Super Hi opened two new restaurants while closing one, strategically adjusting its locations to boost efficiency. By December 31, 2024, the company operated 122 Haidilao restaurants, a net increase of seven from the previous year.
The total table turnover rate was an impressive 3.9 times daily, with the same-store turnover rate reaching 4.0, indicating stability compared to last year. In addition, the company witnessed over 8 million guest visits, a 9.6% rise from the 7.3 million in 2023, primarily driven by the expansion of its restaurant network and successful group dining campaigns.
Furthermore, same-store sales grew by 4.2%, with the income from operation margin increasing to 8.4%, up from 6.4% year-over-year. Such improvements are a testament to Super Hi's ongoing efforts in enhancing operational efficiency.
Highlights from the Full Year 2024 Performance
For the entire year of 2024, Super Hi reported a total revenue of US$778.3 million, representing a healthy increase of 13.4% from the US$686.4 million in 2023. This uptick can be attributed to sustained operational enhancements, as well as strategic adjustments made to cater to evolving customer demands.
The overall guest visits surged past 29.9 million, up 12% from the previous year. Super Hi has focused on optimizing its restaurant management, which was reflected in the improved overall table turnover rates.
Moreover, the same-store sales growth for the year was recorded at 7.1%, with an operation margin increasing to 6.8%, a slight rise from 6.3% the previous year. Such results reinforce Super Hi’s robust strategy and operational focus.
Strategies Driving Growth and Customer Satisfaction
Ms. Yang Lijuan, the CEO and Executive Director of Super Hi, emphasized the company’s ongoing strategy, which prioritizes both employee empowerment and a customer-centric operational model. This dual focus is vital in enhancing workforce productivity and ensuring a rewarding dining experience for guests.
In 2024, the company launched the 'Pomegranate Plan', a comprehensive initiative aimed at diversifying its business operations. The plan draws inspiration from the pomegranate fruit, symbolizing a multitude of business forms working together in harmony, thereby establishing a robust catering service ecosystem.
Operational Insights and Future Directions
As Super Hi advances, it remains committed to its vision of becoming a global leader in integrated restaurant services. The company plans to further amplify its Haidilao restaurant network while continuing to optimize existing operations.
The strategies put forth for 2024 are directed at enhancing diversity in the customer base, boosting operational efficiency, and expanding into overseas markets to fortify its global foothold.
This consistent growth and forward-thinking approach reflect Super Hi’s resilience and adaptability within the competitive restaurant landscape, setting a bright trajectory as it navigates the challenges and opportunities ahead.
Frequently Asked Questions
What are the key financial achievements of Super Hi in 2024?
In 2024, Super Hi reported a total revenue of US$778.3 million, marking a 13.4% increase from 2023, highlighting its growth trajectory.
How many Haidilao restaurants are currently operating?
As of December 31, 2024, Super Hi operates 122 Haidilao restaurants with a net increase of 7 locations from the previous year.
What initiatives did Super Hi introduce in 2024?
The company launched the 'Pomegranate Plan', aimed at diversifying its business offerings and enhancing its service capabilities.
How has customer traffic changed for Super Hi?
Super Hi saw over 29.9 million guest visits in 2024, a 12% increase, driven by network expansion and improved group dining experiences.
What is Super Hi's long-term vision?
Super Hi aims to strengthen its position as a leading global integrated restaurant group while optimizing its operations and enhancing customer satisfaction.
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