TH International Limited, the operator of Tim Hortons in China, reported a 1.4% increase in system sales to RMB409.5 million. Positive adjusted corporate EBITDA of RMB2.2 million was achieved. The company had 26.2 million registered loyalty club members, a 22.4% increase year-over-year. Despite a 4.9% decrease in total revenues, the company saw growth in food revenue and achieved positive adjusted corporate EBITDA. Management highlighted the successful launch of new products to drive growth and improve store economics. The company also reduced costs and improved operational efficiency, leading to positive adjusted corporate EBITDA.

In the second quarter of 2025, total revenues decreased by 4.9% to RMB348.9 million. Company owned and operated store contribution was RMB27.2 million, with a contribution margin of 9.6%. Adjusted general and administrative expenses were RMB34.6 million, down 13.7% year-over-year. Adjusted corporate EBITDA was RMB2.2 million, with a margin of 0.6%. Adjusted net loss was RMB39.7 million. The company also appointed a new brand ambassador and emphasized its commitment to sustainable growth.

The company’s total cash and cash equivalents, restricted cash, and time deposits were RMB178.8 million as of June 30, 2025. The company uses non-GAAP financial measures to evaluate its performance, including company owned and operated store contribution, adjusted general and administrative expenses, adjusted corporate EBITDA, and adjusted net loss. These measures provide insights into the company’s financial performance and decision-making processes. The company also announced a conference call to discuss its financial results.

Read more at GlobeNewswire: Tims China Announces Second Quarter 2025 Financial Results