Turismo
Restamax Plc: RESTAMAX TO EVALUATE THE LISTING OF ITS SUBSIDIARY SMILE HENKILÖSTÖPALVELUT OY ON THE NASDAQ HELSINKI STOCK EXCHANGE
Restamax Plc
STOCK EXCHANGE RELEASE 13 March 2018 9:58 a.m.
The Board of Directors of Restamax Plc has decided to review and evaluate the listing of the labour hire business comprising its subsidiary Smile Henkilöstöpalvelut Oy and its subgroup on the Nasdaq Helsinki Ltd Stock Exchange. The evaluation process will be carried out during spring 2018.
In 2017, the turnover of Restamax Plc's labour hire business was MEUR 75.6, up 121.5% on the previous year, EBITDA was MEUR 6.6, an increase of 91.9% on the previous year, and operating profit was MEUR 3.8, an increase of 140.1% on the previous year. Smile Henkilöstöpalvelut has been part of the Restamax Group since August 2014.
"The rate of growth of the labour hire business has been much faster than the general development of the sector and our restaurant business. Growth has been achieved both organically and through acquisitions. In the 2015 financial year, the turnover of the labour hire business was MEUR 24.2, and in 2017 it reached MEUR 75.6. The potential listing will make it possible for Smile Henkilöstöpalvelut to strengthen its own balance sheet and to grow even more quickly into one of Finland's largest labour hire companies," says , Restamax's founder and Chairman of the Board.
Restamax's goal is to reach a turnover of approximately MEUR 400 by the end of 2020 after internal eliminations. The goal of the restaurant segment is to reach a turnover of approximately MEUR 200, and the goal of the labour hire segment is to reach a turnover of approximately MEUR 220 by the end of 2020.
RESTAMAX PLC
Board of Directors
Timo Laine, Chairman of the Board of Directors, Restamax Plc, tel. +358 400 626 064
Jarno Suominen, CFO, Restamax Plc, tel. +358 40 721 5655
: NASDAQ Helsinki
Major media www.restamax.fi
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