Domino’s Pizza China has announced a significant 51% increase in revenue for the fiscal year 2023, surpassing the company’s previous expectations.
With revenue totaling RMB3.05 billion (US$422 million), and adjusted EBITDA experiencing a remarkable surge of 117.7% to RMB300 million, the company also managed to turn around its performance by achieving an adjusted net profit of RMB8.8 million, a notable improvement from the net loss of RMB113.8 million in FY22.
The chain has sustained positive same-store sales growth for 26 consecutive quarters since the third quarter of 2017.
Expanding its footprint, Domino’s Pizza China added 180 net new stores and ventured into 13 new cities last year, culminating in a network of 768 stores across 29 cities by the year’s end.
Looking ahead, the company aims to continue its expansion trajectory by adding approximately 240 stores this year, aiming to reach the milestone of 1000 stores by the fourth quarter. Plans are underway to open 300 new stores annually in 2025 and 2026.
By the end of December 31, the company’s loyalty membership surged to 14.6 million, marking a substantial 69.8% growth from 8.6 million at the end of 2022.
Domino’s Pizza China serves as the exclusive master franchisee of the global Domino’s Pizza brand in Mainland China, Hong Kong, and Macau. These financial results represent the company’s first audited annual report since its IPO last year.