Mission Mars reports trading ahead of expectations

21-Jul-2022 - Last updated on 10-Jan-2023 at 15:40 GMT

Restaurant and bar group Mission Mars has reported turnover of £34.2 for the first nine months of 2022 financial year, up from £25.5m for the same period in 2019.

Site adjusted EBITDA was £8m, up from £4.2m in the same period in 2019.

The group, which operates 15 bars and restaurants, including the Rudy’s Pizza and Albert’s Schloss brands, says that its bars division contributed £22.7m of turnover and £5.7m of site adjusted EBITDA with Rudys Pizza contributing £11.5m of turnover and site adjusted EBITDA of £2.3m.

Average Group turnover per week has increased from £500,000 to nearly £900,000, largely driven by volume at existing sites and new venues, says the company. A proportion of the revenue increase is attributed to Deliveroo, which now makes up 18% of overall Rudy’s turnover over the first nine months of the financial year.

Mission Mars says its new £4m Bavarian-style bierhaus Albert’s Schloss in Birmingham is “proving popular” with turnover and EBITDA ahead of internal budgets and payback models. Financial performance to date puts the Birmingham venues ahead of the debut Albert’sSchloss in Manchester when adjusting for inflation and comparing opening trade, it says.

It also reports strong trade at its new Rudy’s restaurants in Chorlton and Sheffield.

The company will open two new pizzerias in Chapel Allerton and Didsbury in the coming months with a further four to have opened by spring 2023. It will also open an Albert’s Schloss in Liverpool in a 22,000sq ft site at Radiant House on Bold St in November this year.

Mission Mars also reports that staff is at the lowest level in the company’s history.