Sphera Franchise Group reported first-half 2026 consolidated sales of RON 754.5 million, a 1.2% increase from the prior year, while restaurant operating profit rose 4% to RON 57.9 million. The group’s restaurant operating margin expanded by 20 basis points to 7.0%, supported by a 0.9% increase in restaurant expenses that trailed sales growth. Normalized EBITDA reached RON 52.5 million, down 0.6% year-over-year, with a margin of 7.0%, while net profit increased 7.8% to RON 13.6 million.
Second-quarter 2026 results showed a 1.6% decline in consolidated sales to RON 271.6 million, yet restaurant operating profit surged 20% to RON 32.5 million. The restaurant operating margin improved by 150 basis points to 8.6%, driven by a 3.2% reduction in restaurant expenses and a 6.3% decrease in food and material costs to RON 114.5 million. Normalized EBITDA rose 1.6% to RON 29.4 million, with a margin of 7.5%, while normalized net profit totaled RON 8.1 million. Delivery sales, representing 20% of group revenue, declined 2.3% to RON 74.6 million.
The group’s 176-restaurant network expanded during the period, with four openings in Q1 2026, including new KFC locations in Bucharest, Bălți (Moldova), and San Donà di Piave (Italy), as well as a Cioccolatitaliani outlet in Genova. In Q2, Sphera launched the first Taco Bell in Moldova (Chișinău) and opened a KFC drive-thru in Brașov, Romania, alongside two seasonal restaurants in Costinești. Pizza Hut closed seven underperforming stores to optimize operations, while Wagamama expanded the group’s presence in the pan-Asian fast-casual segment.
Brand performance varied, with KFC Romania contributing 85.8% of total restaurant sales but recording a 1.6% year-over-year decline in all-store sales. KFC Italy saw all-store sales drop 9.8% and same-store sales fall 15.9%, attributed to market conditions and closures. KFC Moldova reported a 43.9% increase in all-store sales, supported by the relocation of its Chișinău restaurant. Taco Bell remained the fastest-growing brand, with an 11.3% year-over-year increase.
Executives highlighted the challenges posed by Romania’s inflation, which peaked at over 10% in June before easing to 8.2% in July, exceeding initial budget assumptions of around 6%. CEO Călin Ionescu noted the group’s strategy to invest amid market difficulties, stating that mere market presence is no longer sufficient without a compelling consumer proposition. CFO Valentin Budeș emphasized the structural nature of cost-reduction efforts in food and material expenses.
