Turnover at Applegreen plc has topped €1bn as it announced its first set of full-year results since its flotation in June last year.
Turnover for the year to 31 December 2015 was up 15% to €1,081m, compared with €937m the previous year, and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) was up 26% to €28.9m.
Its operation in the UK, which is ranked fifth in the Top 50 Indies, added eight new sites during 2015, reaching a total of 61 sites, and has already added a further five sites this year.
Eight sites were rebranded / upgraded in the UK during the year with the upgrade incorporating one or more branded food offers. During the year the company launched two new food offers, Chopstix and Greggs.
Revenue in the UK increased by 18.1% during 2015 while gross profit increased to €34.7m, up from €23.0m in 2014. Like-for-like stores and food sales increased by 3.1% (constant currency) while like-for-like store and food gross profit increased by 8.5% (constant currency).
Fuel gross margin increased by 23.7% (constant currency) and like-for-like figures recorded growth of 4.9% (constant currency).
The company said its key development in the UK last year was the opening of its first motorway service area (MSA) in Northern Ireland just north of Belfast, and last week it opened its second.
Commenting on the results, Bob Etchingham, CEO of Applegreen said: “In reporting our first full year results as a public company we are very pleased to announce a strong performance in 2015 with growth in both profitability and turnover delivered across each of the Republic of Ireland and the UK. This performance was driven by new site openings in both the latter part of 2014 and early 2015 as well as the increased contribution from food driven by our upgrade and rebranding programme.
“Consumer sentiment is strong in both our key markets, particularly the Republic of Ireland, and we are confident that our distinctive retail offering in the forecourt sector will continue to deliver growth through 2016.”