Savor (SVR) H2 2025 earnings summary

Executive summary

• Revenue declined 8% year-over-year to $56.6 million due to reduced foot traffic amid economic pressures, but customer spend per head remained stable.

• EBITDA was $7.3 million, only 1% below the prior year, reflecting strong cost control despite lower revenue.

• Net cash from operating activities increased 11% to $7.1 million, highlighting efficient working capital management.

• Reported net loss of $1.2 million was primarily due to a one-time fixed asset write-off from discontinued Seafarers operations.

• Strategic initiatives included venue optimization, successful Savor Food Festival, and upgrades at Non Solo Pizza, positioning the group for future growth.

Financial highlights

• Revenue: $56.6 million (down from $61.9 million year-over-year).

• EBITDA: $7.3 million (vs $8.8 million prior year).

• Net loss: $1.2 million (vs $0.65 million profit prior year).

• Operating cash flow: $7.1 million (up from $6.4 million year-over-year).

• Net debt to operating earnings ratio below 1x; net cash improved to $1.8 million.

Outlook and guidance

• Trading environment remains uncertain, but gradual relief in cost-of-living pressures is anticipated.

• Strategic investments and new venue openings, including the Lane Way Bar in Britomart, are expected to drive future performance.

• Strong balance sheet and declining leverage provide flexibility for growth or to navigate challenges.