Super Hi Reports Unaudited Financial Results for the Second Quarter of 2025
SINGAPORE, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Super Hi International Holding Ltd. (NASDAQ:HDL) ("Super Hi" or the "Company"), a leading Chinese cuisine restaurant brand operating Haidilao hot pot restaurants in the international market, today announced its unaudited financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights
Revenue was US$198.9 million, representing an increase of 8.5% from US$183.3 million in the same period of 2024.
In the second quarter of 2025, the Company further optimized its restaurant network by opening 4 new Haidilao restaurants and closed 1 underperforming restaurant. Total number of Haidilao restaurants expanded from 123 as of March 31, 2025 to 126 as of June 30, 2025.
The average table turnover rate1 was 3.8 times per day, and the average same-store table turnover rate2 was 3.9 times per day, both remaining stable compared to the same period of 2024.
Had over 7.7 million total guest visits, representing an increase of 6.9% from 7.2 million in the same period of 2024.
Same-store sales3 were US$170.2 million, representing an increase of 5.3% from US$161.7 million in the same period of 2024.
Income from operation4 was US$3.7 million, representing a decrease of 56.5% from US$8.5 million in the same period of 2024.
Income from operation margin5 was 1.9%, compared to 4.6% in the same period of 2024, representing a decline of 2.7 percentage points year-over-year.
Ms. Yang Lijuan, CEO & Executive Director of Super Hi, commented, "In the second quarter of 2025, Haidilao restaurants maintained stable the average table turnover rates1 compared to the same period last year, while same-store sales3 increased by 5.3%. The company's total revenue grew 8.5% year-over-year; however, income from operation4 declined 56.5% compared to the same period last year, with income from operation margin5 decreasing by 2.7 percentage points year-over-year. During the quarter, we continued to execute our strategy of sharing benefits with both customers and employees, enhancing value proposition for customers while strengthening employee satisfaction and team cohesion. The decline in income from operation4 aligns with our expectations under the benefit-sharing strategy, though it also indicated room for improvement in management precision during the dynamic operational adjustment process. We remain committed to advancing management excellence, with particular emphasis on the implementation of our "Pomegranate Plan". We will continue to dynamically deploy our "Woodpecker Plan" targeting underperforming restaurants. Additionally, we will actively embrace technological innovation and applications to enhance organizational efficiency and address current market challenges."
Second Quarter 2025 Financial Results
Revenue was US$198.9 million, representing an increase of 8.5% from US$183.3 million in the same period of 2024.
Revenue from Haidilao restaurant operations was US$189.1 million, representing an increase of 7.3% from US$176.2 million in the same period of 2024. The increase was mainly driven by (i) ongoing business expansion and increased brand influence; and (ii) continuous efforts to increase guest visits and table turnover rates.
Revenue from delivery business was US$3.7 million, representing an increase of 60.9% from US$2.3 million in the same period of 2024, primarily due to (i) the continuous optimization of delivery products and services based on market demand; and (ii) strategic marketing collaborations with local food delivery platforms.
Revenue from other business was US$6.1 million, representing an increase of 27.1% from US$4.8 million in the same period of 2024, driven by (i) the increasing popularity of hot pot condiment products among local customers and retailers; and (ii) the incubation of secondary branded restaurants under the Pomegranate Plan through strategic exploration of diverse business forms.
Raw materials and consumables used were US$67.6 million, representing an increase of 9.6% from US$61.7 million in the same period of 2024, primarily driven by the increase in food ingredient costs resulting from business scale enlargement and revenue growth. In the second quarter of 2025, raw materials and consumables used as a percentage of revenue increased to 34.0% from 33.7% in the same period of 2024.
Staff costs were US$70.3 million, representing an increase of 12.1% from US$62.7 million in the same period of 2024. The increase was primarily due to (i) an increase in the number of employees in line with restaurant network expansion compared to the same period of 2024; and (ii) the Company's increased investment in employee benefits and development to enhance staff loyalty and job satisfaction, as well as the increase in statutory minimum wages in certain countries where we operate. As a percentage of revenue, staff costs increased to 35.3% in the second quarter of 2025 from 34.2% in the same period of 2024.
Income from operation4 was US$3.7 million, representing a decrease of 56.5% from US$8.5 million in the same period of 2024. Income from operation margin5 was 1.9%, compared to 4.6% in the same period of 2024. This decrease in income from operation margin was mainly attributable to (i) the investment in customer and employee benefit initiatives mentioned above, which partially offset the increase in revenue; (ii) increased outsourcing service fees and business development fees resulting from the restaurant network expansion; and (iii) decreased government grants received compared to the same period of 2024.
Profit for the period was US$16.4 million, compared to a loss of US$0.1 million in the same period of 2024. This change was mainly due to a decrease in net foreign exchange loss of US$22.8 million in the second quarter of 2025 as compared with the same period of 2024, primarily attributable to foreign exchange fluctuations, particularly the revaluation of local currencies against the U.S. dollar.Basic and diluted net profit per share were both US$0.03, compared to a basic and diluted net loss per share of approximating nil in the same period of 2024.
__________________________
1 Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count during the period.2 Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count at the Company's same stores during the period.3 Refers to the gross revenue of Haidilao restaurant operation at the same stores for the periods indicated.4 Calculated by excluding interest income, finance costs, unrealized foreign exchange differences arising from remeasurement of balances which are not denominated in functional currency, net gain arising on financial assets at fair value through profit or loss and income tax expense from profit (loss) for the period.5 Calculated by dividing income from operation4 by total revenue.
Operational HighlightsHaidilao Restaurant PerformanceThe following table summarizes key performance indicators of Haidilao's restaurants for the quarters indicated.
As of/For the Three Months Ended June 30,
2025
2024
Number of restaurants
Southeast Asia
74
74
East Asia
20
18
North America
20
20
Others(1)
12
10
Total
126
122
Total guest visits (million)
Southeast Asia
5.1
5.1
East Asia
1.0
0.7
North America
1.0
0.9
Others(1)
0.6
0.5
Overall
7.7
7.2
Table turnover rate(2) (times per day)
Southeast Asia
3.6
3.7
East Asia
4.8
4.1
North America
4.0
4.0
Others(1)
3.9
3.9
Overall
3.8
3.8
Average spending per guest(3) (US$)
Southeast Asia
18.6
19.1
East Asia
29.4
27.3
North America
39.1
41.9
Others(1)
39.7
42.4
Overall
24.3
24.4
Average daily revenue per restaurant(4) (US$ in thousands)
Southeast Asia
14.9
15.1
East Asia
19.8
15.2
North America
21.9
20.7
Others(1)
24.0
24.7
Overall
17.6
16.9
Notes:(1) Others include Australia, the United Kingdom, and the United Arab Emirates. (2) Calculated by dividing total number of tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count during the period in the same geographic regions. (3) Calculated by dividing gross revenue of Haidilao restaurant operation for the period by total guests served for the periods in the same geographic region. (4) Calculated by dividing the revenue of Haidilao restaurant operation for the period by the total Haidilao restaurant operation days of the periods in the same geographic region.
Same-Store SalesThe following table sets forth details of the Company's same-store sales for the quarters indicated.
As of/For the Three Months Ended June 30,
2025
2024
Number of Same Stores(1)
Southeast Asia
63
East Asia
14
North America
18
Others(5)
9
Total
104
