Issue link: https://maltatoday.uberflip.com/i/1368703
2 NEWS 6.5.2021 PREMIER Capital plc, the Mal- tese-owned Developmental Licencee for McDonald's in six European mar- kets, has posted a pre-tax profit of €19 million for the year ended December 31, 2020, down from €28 million in 2019, in a year that saw McDelivery and McDrive underpin the business' operational resil- ience. As challenging trading conditions across the continent impacted opera- tions and, consequently, profitability, the group's operating companies successful- ly navigated constantly changing restric- tions imposed by national authorities to remain close to their communities. Res- taurants continued to serve customers mainly through McDrive and McDeliv- ery, and lobby take-out as dine-in ser- vice was suspended across most of the group's footprint. Customer demand for McDonald's products maintained high levels as ev- idenced by long lines at McDrive lanes and soaring McDelivery sales were re- corded throughout the year under re- view in all markets. In 2020, the group reviewed its capital commitments and instructed its teams to preserve liquidity in view of the pan- demic. However, in order to maintain focus on its long-term vision, the group pursued its investment strategy with five restaurant openings and secured 100 per cent ownership of the Romanian busi- ness after acquiring the 10 per cent stake held by a single shareholder. Last year, the group registered a 6.5% decrease in turnover to realise revenue of €319 million, thanks to its team of 8,726 people in 159 restaurants in Esto- nia, Greece, Latvia, Lithuania, Malta and Romania. ere were no Covid19-relat- ed job losses – headcount fell by just 24 people from the beginning of 2020 – as the group endeavoured to preserve its staff complement by tapping wage sup- port programmes put in place by nation- al authorities. All markets experienced business dis- ruption, with Malta reporting the high- est impact with an overall decrease of 15.7% compared to 2019. e other five markets registered single digit declines in sales: Romania and Greece of 8%, Lithuania 3.3%, Estonia 2.2%, and Latvia 1%. Premier Capital opened five new res- taurants last year: three in Romania, one in Lithuania, and one in Greece. A further 14 existing restaurants were upgraded to accommodate McDonald's newest service and digital platforms al- lowing for the roll out of table service and self-ordering kiosks. By the end of 2020, a total of 145 restaurants had de- ployed McDelivery. Two restaurants in Greece were closed. Although the outlook for 2021 is af- fected by the fallout from the COVID-19 pandemic, the severity of the impact is expected to be lower than that of 2020. Stringent cost containment measures and budgetary reviews remain in place. In the last few months, some markets have registered significant progress in their vaccination programmes and it is expected that fiscal incentives will kick- start economic activity. Scaled-back operations complying with measures implemented by local health authorities over the past few months should return to normal soon, particu- larly in Greece and Malta where govern- ments are determined to restart tourism within weeks. A total of eight new McDonald's res- taurants are planned for opening in 2021, three of which were inaugurated in Romania, Greece and Lithuania by the end of the first quarter of the year. In January, Premier Capital appoint- ed Geoffrey Camilleri as its new Chief Financial Officer. Camilleri joined the group from Hili Ventures, Premier Capi- tal's parent company, where he was Chief Financial Officer since 2014. "As challenging as 2020 turned out to be, it was also a defining year for the group," Premier Capital Chief Executive Officer Victor Tedesco said. "It demon- strated unequivocally that the business is operationally resilient. anks to the McDrive and McDelivery service chan- nels, our restaurants were able to con- tinue to serve our customers and live up to the brand's legacy as a pioneer of convenience. It was the year Premier Capital gave 100 per cent to protect jobs and keep going wherever possible. It was also the year all our people came togeth- er with incredible determination to stay close to our communities when they needed us most, serving our customers at home or on their way to or back from roles and jobs that are so vital to society. Our restaurant crews' courage, patience and work ethic has been outstanding. "is year, we continue to monitor the situation in each market closely, but with greater confidence as we now possess the appropriate experience, knowledge and resources for business continuity and contingency planning as we live and work through this crisis. We will keep a watchful eye on the opportunities that have emerged from this situation and ensure we keep our people and custom- ers safe through elevated brand trust. We are emerging from this unprecendented challenge in a strong position. We have preserved our market leadership in five of six of our markets and we can rely on our empowered, passionate people to run great, innovative restaurants. We can't wait to have all our doors open again so that our crews can welcome our customers back in person." McDonald's licencee Premier Capital posts €19 million pre-tax profit in 2020 CONSTANTLY working at mak- ing the banking experience simpler and more personal, APS Bank has developed various tools to assist customers with the ongoing APS Check-in data review. ese help- tools, together with more informa- tion on the APS Check-in review, can be found on a dedicated help page on the Bank's website. is page includes step-by-step videos on how to complete the on- line / paper form, an FAQ page with the most common queries and fur- ther information on this exercise. e 'APS Check-in' is a very im- portant project aimed at ensuring that customer information is al- ways accurate and up-to-date, also as part of the Bank's regulatory ob- ligations. To view the APS Check-in help page please visit apsbank.com. mt/check-in. Customers may also request assistance via email on checkin@apsbank.com.mt or by calling the dedicated APS Check- in line on 2560 3111 between 8am and 8pm, Monday to Friday (ex- cluding public holidays). Assisting customers with the APS Check-in Premier Capital will open a total of eight new restaurants across its footprint in 2021, with three having already opened in Romania, Greece and Lithuania in the first quarter