Tims China Announces Second Quarter 2024 Financial Results
Tims China reported its second quarter 2024 financial results, achieving its first-ever quarterly adjusted corporate EBITDA profitability of RMB4.1 million (USD0.6 million) amid a 10.9% revenue decline to RMB366.8 million (USD50.5 million). The adjusted store EBITDA surged by 81.7% to RMB33.2 million (USD4.6 million), with a record margin of 10.3%. The COO noted a focus on enhancing profitability through optimized store economics, closing underperforming locations, and strengthening the franchise network, which saw significant applications reaching over 3,600 by the end of June.
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