TRG delivers robust financial results despite restrictions

The Restaurant Group plc (TRG) has published its FY21 Financial summary for the 53 weeks ended 2 January 2022, with Total sales of £636.6m (2020: £459.8m),

Adjusted EBITDA profit stood at £81.2m (2020: £8.7m), with Adjusted Profit before tax of £16.6m (2020: loss of £47.9m).

Statutory loss before tax was £32.9m (2020: loss of £132.9m), with Net debt of £171.6m on a pre-IFRS 16 basis (2020: £340.4m). IFRS 16 net debt was £582.0m (2020: £824.2m).

TRG is making good progress against its four strategic priorities:

• Maintain like-for-like sales outperformance versus market
- Strong like-for-like sales (“LFL”) outperformance versus market since re-opening for
dine-in on 17 May 2021

• Deliver against key financial targets
- Recent Wagamama and Pub openings (2019 & 2020) delivering good returns
- Good progress made towards medium term net debt/EBITDA

• Accelerate selective expansion opportunities
- Healthy FY22 pipeline of new Wagamama and Pubs openings

• Drive forward our ESG agenda
- Carbon neutral on scopes 1 and 2 in FY22
- Developing scope 3 emissions reduction plan

CEO Andy Hornby commented, “2021 was a year of substantial progress at TRG. The recapitalisation of the balance sheet and strong trading performance have allowed us to deliver a robust set of financial results despite the various restrictions that have impacted the sector.

'I’d like to thank every single one of our teams who have gone the extra mile on so many occasions during 2021 and delivered a market outperformance across all our brands.'