Premier Capital plc, the Maltese-owned developmental licencee for McDonald’s in six European markets, has registered turnover in excess of €200 million for the year ended December 31, 2016. Turnover for the year more than doubled year-on-year following the acquisition of the Romanian market in January 2016.

Thanks to its team of 7,000 people in the Baltic states (Estonia, Latvia and Lithuania), Greece, Malta and Romania, Premier Capital served 105 million customers last year, its highest number to date.

In 2016, the group registered an operating profit of €21.2 million. After accounting for investment income and finance costs, the group registered a pre-tax profit of €16.5 million. The group’s net assets for 2016 amounted to €41.6 million. Premier Capital plc launched a €65 million bond issue to the public last year. The bonds have been listed on the Malta Stock Exchange.

The Romania acquisition brought 67 additional restaurants to Premier Capital’s portfolio in 2016.Overall, Premier Capital’s portfolio continued to grow with the opening of one restaurant in Greece, another in Malta, two in Romania. Three restaurants in Romania and two restaurants in the Baltics were remodelled.

The outlook for the group’s business across all markets is positive. Across the Baltic states, Malta and in Romania, the McDonald’s brand remains the market leader in the Informal Eating Out sector and market share and user base continues to expand on the back of enhanced customer service. In Greece, despite strong competition from local and international brands and a challenging economic environment, Premier Capital was successful in improving market share last year.

So far this year, Premier Capital has inaugurated one new restaurant in Thessaloniki, Greece. Nine more restaurants are due to open across Premier Capital’s footprint in 2017. 

“It has been a very positive year,” Managing Director Victor Tedesco said. “All our marketspresent room for growth and we are working very hard to expand our presence and serve more customers across our footprint. We are following an ambitious investment programme to open more restaurants and modernise existing ones, and we are committed to bringingincreased innovationto all restaurants around our footprint and offer ever more value and choice to our customers. None of this would be possible without our experienced management team and dedicated crewwho display unwavering passion for the brand every day. Together, they ensure Premier Capital’s outlook is bright.”