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Thursday, 01.05.2025, 06:27
Lithuanian-owned Cili pizza chain plans expansion in Riga
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The company expects to have 10 to 15 Cili Take Away outlets in Lithuania and Latvia at the end of the year.
Cili Pica CEO Donatas Vaitasius says that the company plans to open its first Cili Take Away in Riga shortly, with up to five outlets to be set up in Latvia by the end of 2018. Investments in each outlet will amount to around 100,000 euros.
Cili Pica last year posted 16 million euros in revenue, a rise of 2 percent compared with 2016, and is targeting a further 10 percent growth in revenue this year.
It expects to boost EBITDA to between 2.5 million and 3 million euros, up from 1.9 million euros in 2017.
The company last year reported a pretax profit of 1.5 million euros. Its profit rose to 1.4 million euros, up from 1.07 million euros in 2016.
It owned 25 pizzerias and two Cili Take Away outlets in late 2017.
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