Tims China Announces Third Quarter 2024 Financial Results
TH International Limited (THCH)
Company Research
Source: GlobeNewswire
Achieved Consecutive Adjusted Corporate EBITDA1 Profitability Generated Highest-ever Company Owned and Operated Store Contribution Margin4 of 13.3% SHANGHAI and NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- TH International Limited (Nasdaq: THCH), the exclusive operator of Tim Hortons coffee shops in China (“Tims China” or the “Company”) today announced its unaudited financial results for the third quarter 2024. THIRD QUARTER 2024 HIGHLIGHTS Total revenues of RMB359.6 million (USD51.3 million), representing a 17.1% decrease from the same quarter of 2023.System sales2 of RMB372.4 million (USD53.1 million), representing a 15.5% decrease from the same quarter of 2023.Net new store openings for franchised stores totaled 49 for the quarter (39 systemwide net new store opening, as certain company-owned underperforming stores were closed and we focused on sub-franchise development).Company owned and operated store contribution3, previously disclosed as adjusted store EBITDA, was RMB39.9
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THCH
News
- TH International Ltd (THCH) Q3 2024 Earnings Call Highlights: Record Store Margins and ... [Yahoo! Finance]Yahoo! Finance
- TH International Limited (THCH) Q3 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Tims China Joins ESG Global Leaders SummitGlobeNewswire
- Tims China Announces Q3 2024 Results Date & Conference CallGlobeNewswire
- Tims China to participate in and sponsor the Upcoming Fourth ESG Global Leaders Summit [Yahoo! Finance]Yahoo! Finance
THCH
Sec Filings
- 11/12/24 - Form 6-K
- 8/29/24 - Form 6-K
- THCH's page on the SEC website