Canada-based franchisor and operator of multiple restaurant concepts MTY Food Group has announced a significant 110% increase in net income attributable to owners, reaching C$57.28m ($41.8m) in the second quarter (Q2) of 2025.
This growth is largely due to a foreign exchange gain of C$35m, primarily on intercompany loans, despite a loss on translation in the unaudited condensed interim consolidated statement of comprehensive income.
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For the first half of 2025, MTY Food Group’s net income rose by 32.4% to C$59.03m, compared to C$44.58m in the same period of 2024.
The company’s revenue remained stable at C$304.8m ($222.5m) in Q2 2025, driven by growth in the franchise and processing, distribution and retail segments, although there was a decline in the corporate segment.
In the first six months of 2025, revenue reached C$589.6m – a 1.2% increase from C$582.4m in the first half of 2024.
Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for Q2 2025 were C$69.28m, compared to C$73.19m in Q2 2024. For the first half of 2025, adjusted EBITDA stood at C$127.77m, down from C$132.46m in the same period of the previous year.
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By GlobalDataAs of the end of Q2 2025, MTY Food Group’s network comprised 7,046 locations, with 6,791 franchised or under operator agreements and 255 corporate-owned. The geographical distribution remained stable, with 57% in the US, 35% in Canada and 8% international.
During Q2 2025, MTY Food Group opened 76 locations and closed 77, compared to 85 openings and 90 closures in Q2 2024.
System sales reached C$1.46bn in Q2 2025, a slight year-on-year increase of 0.3%. The US segment saw a 1% sales decline due to decreased same-store sales, partially offset by positive foreign exchange impacts, while Canada achieved 3% organic growth.
Same-store sales decreased 1.9% year-on-year in Q2 2025.
Regionally, Canada saw 1.4% growth, the US experienced 3.8% decline and International sales dropped 2.9%.
Digital sales increased by 3% during the quarter, reaching C$296.7m compared to C$287.7m in Q2 2024.
