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Kotipizza Group Oyj: Kotipizza Oyj to start employee co-operation negotiations; no need for staff reductions

Kotipizza Group Oyj

Stock exchange release 9 May 2018 at 10.00am (EEST)

Kotipizza Oyj to start employee co-operation negotiations; no need for staff reductions

Kotipizza Oyj, part of Kotipizza Group Oyj, will start employee co-operation negotiations concerning eight employees. The reason for the negotiations is the need to reorganise the Group's operations in a situation where Kotipizza Group is growing rapidly, and where new chains and concepts have been established alongside the Kotipizza chain. Behind the negotiations is a plan to concentrate Kotipizza's operations in Kotipizza Group. This does not entail a need to reduce the total number of people employed by the Group.

According to its strategy announced in February, Kotipizza Group is a home of brands. The Social Burgerjoint restaurant is being developed into a nationwide burger chain, No Pizza is a restaurant concept aimed at the international market, Tasty Market is a new lunch restaurant concept in development, and Kotipizza Go is a new pizza slice product for eating on the go. Part of the Group are also the Kotipizza chain and the Mexican-style restaurant chain Chalupa, launched in 2015.

In the Roadmap to 2020 document, released as part of the strategy, growth targets regarding the number of restaurants and chain sales were set for Kotipizza, Chalupa and Social Burgerjoint. According to the roadmap, the target for the three chains' total cumulative chain sales in 2020 is 181 million euros.

"Our growth has been strong thanks to the success of the Kotipizza chain. Now, we want to ensure that both Kotipizza and the other chains can continue to grow in a multi-brand environment. There will continue to be plenty of work in building growth also in the future", says CEO of Kotipizza Group Tommi Tervanen.

"Up until now, the Group has focused strongly on the Kotipizza chain while the other chains' operations have been driven by entrepreneurs. As a growth-oriented home of brands, we must make sure that all of our chains receive the same support as Kotipizza. Above all, we want to ensure that all the chains have a chance to grow in line with our strategy and roadmap."

Kotipizza Group Oyj
Tommi Tervanen, CEO

For more information:
Tommi Tervanen, CEO
tel. +358 207 716 743

Timo Pirskanen, CFO and Deputy to the CEO
tel. +358 207 716 747

Kotipizza Group in brief
Kotipizza is a Finnish pizza chain founded in 1987. At the end of financial year 2017, the number of restaurants stood at 266. In the financial year 2017, the total sales of Kotipizza restaurants amounted to EUR 106.3 million. The Kotipizza chain is part of the Kotipizza Group, alongside the supply and logistics company Helsinki Foodstock Oy, Chalupa Oy that operates the Mexican-style restaurant chain Chalupa launched in 2015, as well as The Social Burger Joint Oy, acquired in November 2017, that operates the Social Burgerjoint restaurant chain and the Social Food food truck.
In the financial year 2017, Helsinki Foodstock had net sales of EUR 64.2 million and the total sales of Chalupa restaurants were EUR 1.86 million. In the same period, the Kotipizza Group had net sales of EUR 79.9 million with a comparable EBITDA of EUR 8.52 million.

Kotipizza Oyj to start employee co-operation negotiations



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Source: Kotipizza Group Oyj via Globenewswire

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Kotipizza Oyj to start employee co-operation negotiations