The global petrol station forecourt operator, which operates café chains, including LEON, Starbucks, Greggs, Cinnabon and Cooplands, says its foodservice segment underpinned ‘resilient' trading last year
EG Group achieved 25% revenue growth in the 12 months ended 31 December 2022 to reach $33bn | Photo credit: EG Group
EG Group has hailed the ‘good progress’ of its foodservice brands as driving a ‘highly resilient performance’ in 2022.
The UK-based petrol station forecourt operator, which operates across Europe, Australia and the US, achieved 25% revenue growth in the 12 months ended 31 December 2022 to reach $33bn.
On a constant currency basis, EG Group’s full-year EBITDA increased 2% to $1.46bn.
EG Group, which owns coffee and food-to-go chain LEON and UK bakery café chain Cooplands and counts licensed stores of Starbucks, Greggs and Cinnabon among its brands, said it expanded its foodservice business last year through ‘disciplined investment’ and ‘ongoing innovation’.
The company, which also franchises Burger King, KFC and Subway stores, opened 88 new foodservice units across the last 12 months to reach 1,918 globally.
In July 2022, LEON announced it was launching its own branded self-serve coffee kiosks in 68 EG-operated petrol forecourts across the UK. The coffee and food-to-go chain also announced plans to launch more than 100 self-serve coffee kiosks in Asda supermarkets, which are also owned by EG Group.
“In 2022, we delivered a highly resilient performance, despite macro-economic headwinds. We continued to expand our successful Foodservice business through disciplined investment in our unparalleled offering and ongoing innovation across proprietary and popular third-party brands.
“Looking ahead, we remain confident that EG is well-positioned to continue to outperform the wider market and execute on our strategic objectives,” said Zuber Issa, co-CEO of EG Group.
EG Group’s total global network, encompassing its Foodservice, Grocery & Merchandise and Fuel divisions, reached 6,612 sites at the end of 2022, of which two-thirds are company owned and operated. The unit growth was primarily driven by the acquisition of 285 forecourts in southern Germany from OMV in May 2022.
The petrol station forecourt operator's Grocery & Merchandise business includes UK supermarket giant Asda, which it acquired for $8bn in October 2020, and Cumberland Farms in the US.
Additionally, EG Group operates a Fuel division, via partnerships with major petrol retailers including BP, Esso, Shell and Texaco.