iiko Q4 earnings: sales top record despite COVID-19

iiko’s fourth-quarter 2020 results were impressive as it grew estimates for earnings as well as sales, despite the continued COVID-19 measures – boosting its market share in core territories.  

Sales record

iiko broke another sales record in Q4: up 18% comparing to Q4 2019. It achieved 78% of the baseline (pre-COVID) sales target, the gross profit was 76% of the target and operational and capital expenses were at 90% of the target.


In Q4, 3,283 new customers chose iiko, across 30 countries worldwide: up 18% comparing to Q4 2019. The number of active customers using iiko grew by 4,694 to 32,776, up 17%. (Q4 2019: 28,082).


In Q4, 17 new employees joined our team, taking our headcount to over 220, up 3% (Q4 2019: 214).

Roman Avramov, CEO of iiko, commented:

“Fourth quarter of 2020 was marked by further waves of coronavirus, corresponding protective measures and decline of restaurant revenue on most of our key markets. Despite the challenges, we continued to deliver market innovations beneficial to our customers and increased our SaaS revenues for the period – finishing the year with the best results in company history.”