Added to YB: 2026-06-29
Pitch date: 2026-06-24
REXA.WA [bullish]
Rex Concepts S.A.
Author Info
No bio for this author
Company Info
Rex Concepts S.A. engages in development and operation of quick service restaurants in Central and Eastern Europe.
Market Cap
PLN 1.2B
Pitch Price
N/A
Price Target
34.70
Dividend
N/A
EV/EBITDA
38.40
P/E
N/A
EV/Sales
2.74
Sector
Hotels, Restaurants and Leisure
Category
growth
Rex Concepts ($REXA.WA)
REXA.WA: Polish QSR operator w/ exclusive Popeyes/Burger King rights in Poland, Czech, Romania. 171 owned restaurants, targets 700+ by 2032. Led by AmRest founder McGovern (+1,500% during tenure). 2025 rev PLN594.5M, 7.3% EBITDA margin. Base case PT PLN21.1 vs PLN13 (10x EV/adj.EBITDA, PLN351M 2032E EBITDA); bear PLN9.5, bull PLN34.7. Risk: heavy CAPEX (PLN1.7B), no FCF before 2032, sector multiples at lows.
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