Shakey's net income exceeds pre-pandemic level in 2022


Posted at Apr 17 2023 02:21 PM | Updated as of Apr 17 2023 04:57 PM

MANILA — Shakey's Pizza Asia Ventures Inc said on Monday its net income P874 million in 2022, breaching its pre-pandemic level.

EBITDA or earnings before interest, taxes, depreciation and amortization hit an all-time high of P2 billion last year, it said in a disclosure to the stock exchange.

Systemwide sales, meanwhile, doubled to P14.1 billion compared to 2021 and posted a 36 percent increase compared to pre-pandemic levels, it added.

The strong performance despite inflationary pressures was attributed to the resurgence in dine-in sales, store network expansion as well as the acquisition of Potato Corner, the company said.

“Shakey’s further strengthened its dominance with market share gains in the full-service chained restaurants category and sustained shares in full-service pizza while Potato Corner took the top spot kiosks," PIZZA President and CEO Vicente Gregorio.

“We increased our footprint to reach more guests both domestically and globally. We also ensured that we took care of our people along the way in our pursuit of inclusive growth,” he added..

PIZZA assumed the management of Potato Corner since March 2022.


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