Announcement.

Ipopema Securities recommends "buy" AmRest

"In our opinion, the AmRest business model is becoming more and more geared towards digitization, which should translate into increased revenues and improved operational efficiency, and as a result allow to reduce the cost of operating a restaurant. In addition, we expect that AmRest will not make further acquisitions in the near future and focus on the integration of recently acquired restaurant chains, which should increase the company's profitability, "the report says.
Analysts expect that through their involvement in Glovo (which recently bought pizzaportal.pl), AmRest will grow in the food supply segment.
"In markets where Glovo is not present, AmRest will cooperate with local partners, which should allow expanding the customer base and, as a result, increase sales," the report says.
Ipopema Securities estimates that the company will improve its profitability mainly due to operations in Western Europe.
"After the acquisition of SushiShop, which took place about a year ago, we believe that synergies resulting from the optimization of this business should appear at the beginning of 2020," the report says.
The first publication of the report took place on October 4 at 08:02.

Source: company website, investor relations, current and periodic reports.

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Company information
Company name:Ipopema Securities SA
ISIN:PLIPOPM00011
NIP:527-24-68-122
Adress: ul. Próżna 9 00-107 Warszawa
Phone:+48 22 2369200
website:www.ipopema.pl

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