TH International Ltd (FRA:FQ10)

Q3 2025 TH International Ltd Earnings Call Transcript

Dec 9, 2025 / 01:00 PM GMT

Release Date Price: €3.08

Transcript

Key Points

Positve

TH International Ltd (THCH) achieved a 12.8% year-over-year growth in system sales, indicating strong market performance.
Food revenues increased by 24.2% year-over-year, reaching a historical high of 36.5% of total sales.
Delivery revenues grew by 23.1% year-over-year, benefiting from promotional offers and increased market share.
The company expanded its store footprint into 91 cities, showcasing successful geographic expansion.
The number of loyalty club members reached 27.9 million, reflecting a 22.3% year-over-year growth, which is a strong catalyst for future growth.

Negative

Company-owned and operated store revenues dropped by 5.5% year-over-year due to planned closures of underperforming stores.
Food and packaging costs as a percentage of revenues increased by 1.6 percentage points year-over-year, impacting profitability.
Delivery costs as a percentage of revenues increased by 2.9 percentage points, driven by a higher delivery revenue mix.
Adjusted general and administrative expenses rose by 23.2% year-over-year, primarily due to increased outside service fees and credit loss of accounts receivable.
The company experienced intensified competitive pressure from rapidly expanding tea beverage categories, affecting the coffee sector.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

THCH.OQ - TH International Ltd
Q3 2025 TH International Ltd Earnings Call
Dec 09, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to Teams China 3rd quarter 2025 earnings conference call. All participants will be in listen-only mode during management prepared remarks, and there will be a question-and-answer session to follow.

Today's conference is being recorded. At this time, I would like to turn the call over to Gemma Becks, who heads Team China investor relations efforts for prepared remarks and introductions. Please go ahead, Gemma.

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Unidentified_2 [2]
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Thank you, Desmond, and hello, everyone.

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