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SHANGHAI and NEW YORK, USA – TH International Limited, the exclusive operator of Tim Hortons coffee shops in China (“Tims China” or the “Company”) has announced its unaudited financial results for the first quarter 2025.
Mr. Yongchen Lu, CEO & Director of Tims China, stated, “In Q1, we solidified our differentiated strategic positioning in “Coffee + Freshly Prepared Food” by launching “Light & Fit Lunch Box”, a series of new platform combo products for the lunch daypart, to further drive our top-line sales and store unit economics.
The product lineups include the popular Hot Baked Bagel Sandwiches, Energizing Lunch Wraps, and Loaded Power Bowls, paired with a coffee or other beverage, all at an accessible price point. With Tims China’s Chibaobao 40% off discount card, the Light & Fit Lunch Box combo products pricing start from as low as RMB24, delivering both great value and great nutrition.
We regained top-line growth in the first quarter and achieved a 3.5% increase in system sales year-over-year. Our sub-franchise and retail businesses also contributed steady cash flows and profitability. Profits from other revenues increased by 34.5% year-over-year.
At the same time, we cut losses at adjusted corporate EBITDA by nearly 50%. These achievements are testaments to Tims China’s enduring efforts and our strive for further profitable growth.”
First quarter 2025 highlights:
- Total revenues of RMB300.7 million (USD41.4 million), representing a 9.5% decrease from the same quarter of 2024.
- System sales of RMB376.3 million (USD51.9 million), representing a 3.5% increase from the same quarter of 2024.
- Net new store openings totaled (net closure of seven company owned and operated stores and net opening of nine franchised stores).
- Company owned and operated store contribution, previously reported as adjusted store EBITDA, was RMB17.2 million (USD2.4 million), compared to RMB2.3 million in the same quarter of 2024.
- Company owned and operated store contribution margin, previously reported as adjusted store EBITDA margin, was 6.7%, representing a 5.9 percentage points improvement over the same quarter of 2024.
- Registered loyalty club members totaled 25.1 million members as of March 31, 2025, representing a 25.7% year-over-year growth.
