The Convenience Shop (Holding) plc – Full-Year Results
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
On 30 April 2026, The Convenience Shop (Holding) plc published its Annual Report and Financial Statements for the financial year ended 31 December 2025.
Revenue surged by 14% to €53.0 million (2024: €46.4 million), which partially reflect the impact of high inflation. The company explained that the combined turnover of the Group and its franchisees amounted to €97.4 million. As at the end of 2025, the Group operated 49 shops and another 54 shops were franchised.
Operating costs increased by 16% to €51.6 million (2024: €44.4 million) as the company transitioned the entire pool of subcontracted staff to direct employees to ensure a more engaged, skilled, and loyal team amid an expansion strategy.
As a result, operating profit slumped by 28% to €1.39 million (2024: €1.94 million) and the operating profit margin fell to 2.6% from 4.2% in the previous year. Excluding depreciation and amortisation charges, EBITDA declined by 4% to €4.08 million compared to €4.25 million in the previous year and the EBITDA margin eased to 7.7% from 9.2% in 2024.
After accounting for other income of €0.86 million, net finance costs of €1.19 million, a tax charge of €0.15 million, and minimal losses attributable to non-controlling interests, the Group reported a net profit attributable to shareholders of €0.94 million, which is 31% lower than the €1.36 million reported in 2024, resulting in a return on average shareholders’ funds of 9.7% (2024: 14%).
In terms of financial position, total assets increased by 19% (or €7.9 million) to €49.7 million reflecting higher right-of-use assets and trade receivables. Similarly, total liabilities increased by 25% (or €8.0 million) to €40.1 million, which include borrowings of €8.3 million and lease liabilities of €17.6 million. Meanwhile, shareholders’ funds eased by 1.1% (or €0.1 million) to €9.62 million.
Dividend
The Directors will propose an unchanged net final dividend of €0.024 at the upcoming Annual General Meeting.
Coupled with the net interim dividend of €0.010 per share paid in September 2025, the total net dividend attributable for the 2025 financial year amounts to €0.034 per share, unchanged from the previous year, and represents a payout ratio of 112% (2024: 77%).
Outlook
In their commentary, the Directors explained that in 2026, the Group is well positioned to deliver a step change in performance following the structural investments made in 2025. Revenue is expected to increase by 10% to €58.3 million while operating profit is forecasted to nearly double to €2.66 million.
The Board highlighted that since the restructuring and brand investment are now largely complete, the Group enters a phase of realisation where improved sales leverage, margin discipline, and cost efficiencies are expected to translate into meaningfully higher returns for shareholders.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.