FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

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Company card

AmRest Holdings SE

Medium
Groupest. scale

Warsaw Stock Exchange EAT.WA · Europe

Listing status
listed
Operating model
Mixed direct + franchise
Scale basis
Company-operated revenue (proxy)
Confidence
Medium
Segment
qsr multi brand

One of the most important listed European restaurant platforms; operates brands such as KFC, Pizza Hut, Burger King, Starbucks and own concepts.

Scale basis note

Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
2,139 stores
FY2025 (as of year-end Dec 31, 2025): At the end of the quarter AmRest operated 2,139 restaurants following the opening of 92 units.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · At the end of the quarter AmRest operated 2,139 restaurants following the opening of 92 units.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.
$2.89B
FY2025 (Jan–Dec 2025): Revenue: 2,558 million EUR; Revenue Growth (YoY): 0.07% for FY 2025, indicating largely flat year-over-year performance.
Company-operated revenue (proxy)Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · Revenue: 2,558 million EUR; Revenue Growth (YoY): 0.07% for FY 2025, indicating largely flat year-over-year performance.
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Company-operated revenue (proxy)
Precision: Estimated
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$1.35M
Screening proxyest.
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
Company-operated revenue (proxy)Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Company-operated revenue (proxy)
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$18.67M
FY2025 (Jan–Dec 2025): The profit attributable to shareholders of the parent company in FY'25 reached EUR 16.1 million an increase of 89% from 2024.
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · The profit attributable to shareholders of the parent company in FY'25 reached EUR 16.1 million an increase of 89% from 2024.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$2.97B
EUR 2,558.1 million FY2025 revenue.
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Official Filing · Official filing or primary source URL from Top 100 composite.
Provenance
Tier: S1 official primary
Source: Official Filing
Basis: Revenue proxy
Precision: Source-backed

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$620.47M
Market capitalization as of ~Jun 2026: 219,554,183 shares currently in issue; Madrid Stock Exchange market cap: 575.23 mEUR; Warsaw Stock Exchange: 2,428.27 mPLN
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · 219,554,183 shares currently in issue; Madrid Stock Exchange market cap: 575.23 mEUR; Warsaw Stock Exchange: 2,428.27 mPLN
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

8/18 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
chickenS3 supplementary (opens in new tab)
Cuisine (secondary)
pizzaS3 supplementary (opens in new tab)
Service model
QSRtier3_reference (opens in new tab)~
Price tier
valuetertiary (opens in new tab)~
Company
Founded
1,993secondary (opens in new tab)
HQ country
Spain~
CEO
Luis Comassecondary (opens in new tab)
Employees
44,163secondary (opens in new tab)
Ownership
Parent
Independent listed (AmRest Holdings SE; multi-brand franchisee KFC/Pizza Hut/Starbucks/Burger King EMEA; Warsaw:EAT)company/news (opens in new tab)
PE / holding
FCapital Dutch S.L. (controlled by Carlos Fernández González, via Grupo Finaccess) — majority owner ~67% of voting rights since 2016 tender offernews/company (opens in new tab)
Recent M&A
not disclosed
Growth
Revenue YoY
2.4%S1 official primary (opens in new tab)
Pricing & digital
Avg check
not disclosed
Digital sales
56%primary (opens in new tab)~
Loyalty members
not disclosed
Franchise terms
Royalty
not disclosed
Franchise fee
$43,000franchisor_website (opens in new tab)~
By-market footprint
China
84 storesS1 official primary (opens in new tab)
Czech Republic
249 storesS1 official primary (opens in new tab)
France
187 storesS1 official primary (opens in new tab)
Germany
177 storesS1 official primary (opens in new tab)
Hungary
172 storesS1 official primary (opens in new tab)
Middle East countries
19 stores◑derivedS1 official primary (opens in new tab)
Other CEE countries
171 stores◑derivedS1 official primary (opens in new tab)
Other WE countries
31 stores◑derivedS1 official primary (opens in new tab)
Poland
691 storesS1 official primary (opens in new tab)
Spain
348 storesS1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed9/9 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
2,099 stores
FY2024, as at 31 December 2024
Source-backedS1 official primary (opens in new tab)
Company-operated
1,849 stores
FY2024, as at 31 December 2024
Source-backedS1 official primary (opens in new tab)
Company-operated
1,791 stores
FY2023, as at 31 December 2023 (prior-year comparative)
Source-backedS1 official primary (opens in new tab)
Company-operated
KFC 878 (100% equity); Pizza Hut 193 (91% equity / 9% franchise); Starbucks 431 (100% equity); Burger King 98 (100% equity); La Tagliatella 229 (31% equity / 69% franchise); Sushi Shop 181 (65% equity / 35% franchise); Blue Frog 87 (89% equity / 11% franchise); Bacoa 2 (100% franchise)
FY2024, as at 31 December 2024 (brand-level equity vs franchise split)
Source-backedS1 official primary (opens in new tab)
Franchised
250 stores
FY2024, as at 31 December 2024
Source-backedS1 official primary (opens in new tab)
Franchised
372 stores
FY2023, as at 31 December 2023 (prior-year comparative)
Source-backedS1 official primary (opens in new tab)
New units opened
109 stores
FY2024, full year (gross openings)
Source-backedS1 official primary (opens in new tab)
New units opened
91 stores
FY2024, full year (New Openings, equity/company-operated only)
Source-backedS1 official primary (opens in new tab)
Net refranchised
-121 stores
FY2024, full year (transfer of Pizza Hut France master-franchise to YUM)
Source-backedS1 official primary (opens in new tab)

Single-store model

1/1 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Derived system-sales/store = unit-volume proxy; not a disclosed AUV.
Derived: gmv_or_system_sales_usd 2,966,119,382 / 2,139 stores = ~USD1,386,685/store.
FY2024_or_latest_L1
EstimatedNeeds source

Cost structure

6/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS25.7%
FY2024S1 official primary (opens in new tab)Source-backed
KFC/PH/BK/Starbucks franchisee. Rev EUR2,556.3m. Food&merch 25.7/payroll 23.7/occupancy 1.1 (most in 725.1m other)/delivery fees 3.7/marketing 4.3. Op margin 4.6; EBITDA 16.8%.
Labor23.7%
FY2024S1 official primary (opens in new tab)Source-backed
KFC/PH/BK/Starbucks franchisee. Rev EUR2,556.3m. Food&merch 25.7/payroll 23.7/occupancy 1.1 (most in 725.1m other)/delivery fees 3.7/marketing 4.3. Op margin 4.6; EBITDA 16.8%.
Rent / occupancy1.1%
FY2024· explicit occupancy cost only (most in occupancy+depr+other incl IFRS16 ROU)S1 official primary (opens in new tab)Source-backed
KFC/PH/BK/Starbucks franchisee. Rev EUR2,556.3m. Food&merch 25.7/payroll 23.7/occupancy 1.1 (most in 725.1m other)/delivery fees 3.7/marketing 4.3. Op margin 4.6; EBITDA 16.8%.
Delivery commission3.7%
FY2024S1 official primary (opens in new tab)Source-backed
KFC/PH/BK/Starbucks franchisee. Rev EUR2,556.3m. Food&merch 25.7/payroll 23.7/occupancy 1.1 (most in 725.1m other)/delivery fees 3.7/marketing 4.3. Op margin 4.6; EBITDA 16.8%.
Marketing4.3%
FY2024S1 official primary (opens in new tab)Source-backed
KFC/PH/BK/Starbucks franchisee. Rev EUR2,556.3m. Food&merch 25.7/payroll 23.7/occupancy 1.1 (most in 725.1m other)/delivery fees 3.7/marketing 4.3. Op margin 4.6; EBITDA 16.8%.
Operating margin4.6%
FY2024· groupS1 official primary (opens in new tab)Source-backed
KFC/PH/BK/Starbucks franchisee. Rev EUR2,556.3m. Food&merch 25.7/payroll 23.7/occupancy 1.1 (most in 725.1m other)/delivery fees 3.7/marketing 4.3. Op margin 4.6; EBITDA 16.8%.
Not separately disclosed36.9%

Supply chain

6 suppliers · 4 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

Roldrob S.A. / Drobimex Sp. z o.o. / Przedsiębiorstwo Drobiarskie Drobex Sp. z o.o.
Ingredients
discloses as: AmRest Holdings SE
—named (no % disclosed)S2 citedsource (opens in new tab)
LDS Disztibútor Szolgáltató Kft (formerly Lekkerland Export-Import Kft)
Logistics / cold chain
discloses as: AmRest Holdings SE
—named (no % disclosed)S1 filingsource (opens in new tab)
Quick Service Logistics Czech s.r.o. (QSL)
Logistics / cold chain
discloses as: AmRest Holdings SE
—named (no % disclosed)S1 filingsource (opens in new tab)
Quick Service Logistics Hungaria Bt (QSL)
Logistics / cold chain
discloses as: AmRest Holdings SE
—named (no % disclosed)S1 filingsource (opens in new tab)
Quick Service Logistics Polska Sp. z o.o. sp.k. (QSL)
Logistics / cold chain
discloses as: AmRest Holdings SE
—named (no % disclosed)S1 filingsource (opens in new tab)
Conway S.A.
Logistics / cold chain
discloses as: AmRest Holdings SE
—named (no % disclosed)S2 citedsource (opens in new tab)

Peers in this segment

Yum! BrandsGMV / system salesRestaurant Brands InternationalGMV / system salesTAB Gida Sanayi ve Ticaret A.S.GMV / system salesRestaurant Brands New Zealand LimitedRevenue proxy

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.