Rosinter Posted 7.4% YoY Growth of Net Operating Revenue in 2011

OREANDA-NEWS. January 17, 2012. OJSC Rosinter Restaurants Holding (Rosinter), the leading casual dining restaurant chain in Russia and CIS (RTS and MICEX ticker: ROST), announces its trade update for December 2011 and full year 2011.

December 2011 Highlights

In December 2011 consolidated net operating revenue1 increased by 7.0% in ruble terms driven by recovery in same-store sales and growing contribution of recently opened restaurants

Gross revenue of comparable stores2 (SSSG) grew in December 2011 by 0.4% driven by 6.0% average check growth partially offset by 5.3% traffic reduction

1 corporate and 3 franchise outlets were added to the network

2011 Highlights

In 2011 consolidated net operating revenue increased by 7.4% in ruble terms as compared to 2010

Gross revenue of comparable stores (SSSG) grew in 2011 by 1.6% supported by 4.8% average check growth

Restaurant network expanded to 382 outlets from 362 outlets as of end-2010 with growing component of franchise operations

Hugh Carroll, acting President and CEO, commented:

"In 2011 Rosinter posted consolidated net operating revenue of 9,879 million rubles, which is 7.4% higher than in 2010. This was supported by 1.6% sales growth in comparable stores despite some decline in traffic that we experienced in the second half of the year. Our price revisions translated into average check growth by 4.8% that supported our operating margins and allowed to improve financial performance in the third quarter of 2011.

During the year we have opened 17 new corporate and 25 new franchise outlets. In December we added new city to our network - Sevastopol, Ukraine - and now our restaurants are present in 44 cities in 10 countries. At the same time we optimized our portfolio by closing a number of non-profitable outlets. Accounting for closures, our restaurant count grew from 362 to 382 outlets by the end of 2011.

Going forward in 2012 our efforts will focus on revitalizing our core brands IL Patio and Planet Sushi, delivering high quality guest experiences and improving our financial performance. We will also maintain our policy of having a very selective approach to corporate sites in order to ensure high quality of new restaurants."

Consolidated Net Operating Revenue1 Performance ('M RUB)

1 Unaudited operating revenue includes only total net sales of corporate restaurants and canteens and does not include revenue from franchise operations and other revenue items.

2 Calculation is based on gross sales data (including VAT) for the pool of currently operating mature restaurants, which had operated for 18 months as of 1 January 2011.