FREE REPORT - FRENCH RESTAURANT SECTOR: Insights on Chains

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FRENCH RESTAURANT SECTOR: Insights on Chains


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FREE REPORT - FRENCH RESTAURANT SECTOR: Insights on Chains

  1. 1. AMATI & Associates 1 FRENCH RESTAURANT SECTOR: Top Line Insights on Chains
  2. 2. AMATI & Associates 2 Food service Market in France Commercial Food Service accounts for more then half of French Food Service, while the highest growth comes from Alternative Circuits (e.g. Petrol Stations) Food Service Commercial Collective Alternative Circuits Hotels Vending Share 2007-12Description +12.2% +4.8% +24.9% +9% +0.4% Independents, Chains, Groups Schools, In- company, Hospitals Boulangerie, Petrol Stations Hotels Warm, Cold Snacks, Pizzas 58% 22% 13% 7% 0,2% SANITIZED
  3. 3. AMATI & Associates 3 Food service Market in France Food service in France is growing both in volume and in value 'M EUR Mn transactions # of Outlets Average Ticket (EUR) +20% +12% +11% -3% •  Turnover grew by 20% in reference period, thanks to: •  12% increment in the number of transactions (e.g. meals) •  11% increase in the number of outlets •  Despite the average ticket is 3% below the 2008 value. Although it seems to have a positive trend in the past 3 years •  The number of outlets peaked in 2010 and seems to have stabilized in the past 3 years SANITIZED
  4. 4. AMATI & Associates 4 Food service Market in France Four per cent of the transactions (i.e. tickets above 21 EUR) account for 43% of the market value Super  Eco  (<  10  EUR)   Eco  (11-­‐15  EUR)   Intermediate  (16-­‐20  EUR)   Superior  (21-­‐30  EUR)   Haute  de  Gamme  (31-­‐50  EUR)   Luxe  (>  50  EUR)   Share of Transactions Share of Value SANITIZED
  5. 5. AMATI & Associates 5 The Commercial Food Service Chains account for a small number of outlets, yet for a high share of the total commercial food service revenue Share of Outlets Independents Café, Bars, Brasserie Chains Groups Share of Revenues Independents Chains CBB Groups SANITIZED
  6. 6. AMATI & Associates 6 Commercial Food Service France: Price Structure Average EBIT margin for French commercial service is 6% •  Cost of goods includes raw and packaging materials, and other preparation related materials, and supply logistics •  Other purchases include marketing and selling expenses, utility and intra-site logistics •  Labor costs include both pay slips and social charges •  D&A include all depreciation and amortization charges •  OH is the over head due to related services Average Cost Analysis for Companies operating in the Commercial Food Service Cost of goods Other purchases Labour D&A OH EBIT Retail Price SANITIZED
  7. 7. AMATI & Associates 7 Commercial Food Service France: Focus Chains and Groups Both Chains and Groups are growing in the past 3 years in volume and value Chains   Groups   Revenues ( Millions EUR) Chains   Groups   Mn of Transactions •  Chains: overall growth in the segment is driven by the increase in number of transactions •  Groups: growth is due to both increase in transactions and revenues per outlet SANITIZED
  8. 8. AMATI & Associates 8 Commercial Food Service France: Focus Chains and Groups For chains, the reduced growth in ticket and the diminishing capacity per outlet, are lowering the average transaction per outlet and therefore the average turnover per outlet. For groups the ticket increase sustains the revenues per outlet Chains   Groups   Average Ticket (EUR) Chains Groups Seating Capacity per Day per Outlet Chains Groups 2010 2011 2012 Revenues per Outlet ('000 EUR) Chains   Groups   Average Transactions per Outlet SANITIZED
  9. 9. AMATI & Associates 9 Commercial Food Service France: Focus Chains In the past few years the number of brands in the market has decreased, yet the revenues per outlet and the revenues per brands soared in the same period Average Revenues per OutletNumber of Brands Average Revenues per Label …but… & -5% +2% +26% •  A Darwinian process of selection is in act, with the strengthening of stronger brands and the disappearing of weaker chains SANITIZED
  10. 10. AMATI & Associates 10 Commercial Food Service France: Focus Chains American Fast Food takes the lion’s share in volume and value, although French Fast Food has higher penetration Anglo-­‐saxon   French  Fast  Food   Grill   Cafeterias   ThemaKc   Pizza   ThemaKc  Fast  Food   Revenues ('000 EUR) Mn Transactions # of outlets SANITIZED
  11. 11. AMATI & Associates 11 Commercial Food Service France: Focus Chains Market is very well segmented by type of cuisine Anglo-­‐saxon   French  Fast  Food   Grill   Cafeterias   ThemaKc   Pizza   ThemaKc  Fast   Food   •  Basic inverse relationship between volume and average ticket price •  Seating capacity increases with volume transactions •  Anglo-Saxon restaurants include McDonalds, KFC, Burger King •  Cafeterias include Flunch, Casino, Crescendo, Cora, Ikea, Eris and Toquenelle •  French Fast Food are lead by Subway, Brioche Doree and Paul •  Thematic Fast Food include Starbuck, Sushi Shop, Planet Sushi, Mezzo di Pasta •  Grill include Buffalo Grill, Courtepaille, Hippopotamous •  Thematic are lead by La Pataterie, Bristro du Marche e Leon de Bruxelles Number of Transactions per outlet per year AverageTicketPriceperTransaction Bubble size proportional to seating capacity per outlet SANITIZED
  12. 12. AMATI & Associates AMATI & Associates Registered address: ul. Pułku Baszta 4A lok. 26, 02-649 Warszawa, polska nip: pl 5213627346 url: www.filibertoamati.com 12

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