Restaurant Brands’ Q1 Sales Announcement – Correction

12 June 2018
ASX/NZX

Restaurant Brands’ First Quarter Sales Announcement - Correction

The Restaurant Brands’ First Quarter Sales Market Update announcement released on 31 May 2018
contained arithmetic errors in certain NZD totals set out in the first table of the Quarterly Sales Report
Summary that accompanied the announcement.

A copy of the announcement with a revised Summary is attached. The bolded items in the table below
show the corrections made to the Summary:



Please note that no changes have been made to the content of the announcement itself.




For further information please contact:

Grant Ellis
CFO/Company Secretary
Phone: 525 8710

ENDS



2018/19 ($000's)2017/18 ($000's)Change2018/19 ($000's)2017/18 ($000's)Change
Q1 2018/19 vs Q1 2017/18

Total Same Store Sales124,953 121,471 2.9%160,480 157,824 1.7%
YTD 2018/19 vs YTD 2017/18
Total Same Store Sales - Hawaii65,120 64,896 0.3%35,527 36,353 -2.3%
Total Same Store Sales 124,953 121,471 2.9%160,480 157,824 1.7%
Previously Released
Updated Correction
Summary of Results for the 1st Quarter (Q1)
(for the 12 weeks 27/02/2018 to 21/05/18)
RESTAURANT BRANDS NEW ZEALAND LIMITED

Restaurant Brands New Zealand Limited

31 May 2018
ASX/NZX

Restaurant Brands’ First Quarter Sales up 11.7% following further Australian acquisitions.

Restaurant Brands’ total sales for the first quarter of the financial year (12 weeks to 21 May 2018) were
$180.0 million, an increase of 11.7% or $18.8 million on the equivalent period last year.

New Zealand operations generated sales of $97.4 million, up 2.8% on a total basis and 2.6% on a same
store basis. Australian KFC outlets produced sales of $42.8 million, up 44.1% on a total store basis, and
3.7% on a same store basis. Hawaiian operations generated sales of $39.8 million, up 8.4% on a total
basis and down 2.3% on a same store basis.

Total company store numbers were up by 11 on the equivalent period last year to 309, primarily from
the acquisition of a further 13 KFC stores in Australia.

KFC New Zealand

For the first quarter sales for KFC New Zealand were $75.0 million, an increase of 5.8% on the
equivalent period last year on a total store basis and up 4.3% on a same store basis for this quarter.

Store numbers remained steady at 94 during the quarter.

Pizza Hut New Zealand

Total first quarter sales for Restaurant Brands-owned Pizza Hut stores were $9.2 million, a decrease of
5.4% on the equivalent period last year. Same store sales for the quarter decreased by 5.0%.

Company owned stores reduced by three during the quarter to 33 with three Pizza Hut stores sold to
independent franchisees. There are now 65 Pizza Hut stores operated by independent franchisees,
bringing the total network to 98 stores.

Network total sales for the quarter were $23.4 million, an increase of 1.2%.

Starbucks Coffee

Starbucks Coffee total sales for the first quarter were $5.7 million, a 6.1% decrease on the equivalent
period last year following the closure of two stores. Same store sales for the quarter were up 2.1%.

Store numbers remained steady at 22 during the quarter.

Carl’s Jr.

Total sales for the first quarter were $7.5 million, a decrease of 6.9% on the equivalent period last
year, and down on a same store basis by 2.8%.

Store numbers reduced by one to 18 with the compulsory closure of Upper Harbour store due to road
development.

KFC Australia

First quarter sales for KFC Australia were $A39.9 million ($NZ42.8 million), an increase of 44.8% on a
total store basis and 4.2% on a same store basis.

Store numbers remained steady at 61 stores during the quarter. Store numbers were 14 up on last year
from the acquisition of 13 stores and one new store opening.

Taco Bell Hawaii

Total sales for the first quarter were $US16.2 million ($NZ22.6 million), an increase of 10.0% on a total
store basis due to a week’s extra trading. Sales were 0.9% up on a same store basis.

Store numbers remained steady at 36 during the quarter, and reduced by one on last year with the
closure of Pearlridge due to the lease expiring.

Pizza Hut Hawaii

Total sales for the first quarter were $US12.3 million ($NZ17.2 million), an increase of 10.9% on a total
store basis due to a week’s extra trading. Sales were 2.2% down on a same store basis.

Store numbers remained steady at 45 during the quarter. During last year a new store opened at Mall
Stadium to replace the Pearlridge store which closed due to the lease expiring.





For further information please contact:

Russel Creedy Grant Ellis
CEO CFO/Company Secretary
Phone: 525 8710 Phone: 525 8710

ENDS

2018/19 ($000's)2017/18 ($000's)Change
Q1 2018/19 vs Q1 2017/18

Total Store Sales - KFC New Zealand74,965
70,883
5.8%
Total Store Sales - Pizza Hut New Zealand
9,177

9,698

-5.4%
Total Store Sales - Starbucks Coffee
5,744
6,117

-6.1%
Total Store Sales - Carl's Jr.7,547

8,106
-6.9%
Total Store Sales - New Zealand97,434

94,803

2.8%
Total Store Sales - KFC Australia *42,791

29,701

44.1%
Total Store Sales - Taco Bell *22,638
20,954

8.0%
Total Store Sales - Pizza Hut Hawaii *17,163

15,768

8.8%
Total Store Sales - Hawaii *39,802

36,723

8.4%
Total Store Sales
180,027
161,227

11.7%
Same Store Sales - KFC New Zealand73,252

70,258
4.3%
Same Store Sales - Pizza Hut New Zealand8,836

9,298
-5.0%
Same Store Sales - Starbucks Coffee
5,726

5,608
2.1%
Same Store Sales - Carl's Jr.7,547
7,764

-2.8%
Total Same Store Sales - New Zealand
95,360

92,928
2.6%
Same Store Sales - KFC Australia *29,593
28,543

3.7%
Same Store Sales - Taco Bell *20,391
20,590
-1.0%
Same Store Sales - Pizza Hut Hawaii *
15,136
15,763
-4.0%
Total Same Store Sales - Hawaii *35,527

36,353
-2.3%
Total Same Store Sales160,480
157,824
1.7%
YTD 2018/19 vs YTD 2017/18
Total Store Sales - KFC New Zealand
74,965
70,883
5.8%
Total Store Sales - Pizza Hut New Zealand9,177
9,698
-5.4%
Total Store Sales - Starbucks Coffee5,744
6,117
-6.1%
Total Store Sales - Carl's Jr.
7,547 8,106
-6.9%
Total Store Sales - New Zealand97,434

94,803 2.8%
Total Store Sales - KFC Australia *42,791
29,701
44.1%
Total Store Sales - Taco Bell *
22,638 20,954
8.0%
Total Store Sales - Pizza Hut Hawaii *17,163
15,768
8.8%
Total Store Sales - Hawaii *39,802
36,723 8.4%
Total Store Sales180,027
161,227
11.7%
Same Store Sales - KFC New Zealand
73,252 70,258 4.3%
Same Store Sales - Pizza Hut New Zealand
8,836 9,298
-5.0%
Same Store Sales - Starbucks Coffee5,726
5,608 2.1%
Same Store Sales - Carl's Jr.7,547 7,764
-2.8%
Total Same Store Sales - New Zealand95,360 92,928
2.6%
Same Store Sales - KFC Australia *29,593 28,543 3.7%
Same Store Sales - Taco Bell *20,391 20,590 -1.0%
Same Store Sales - Pizza Hut Hawaii *15,136
15,763 -4.0%
Total Same Store Sales - Hawaii *35,527 36,353 -2.3%
Total Same Store Sales
160,480 157,824 1.7%
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 1st Quarter (Q1)
(for the 12 weeks 27/02/2018 to 21/05/18)

2018/19
2017/18
Change
NUMBER OF STORES OPEN AT QUARTER END
KFC New Zealand
94


92

2
Pizza Hut New Zealand
33 34 -1
Starbucks Coffee22 24 -2
Carl's Jr.
18 19 -1
Total - New Zealand
167 169 -2
Total - KFC Australia
61 47 14
Taco Bell
36 37 -1
Pizza Hut Hawaii
45 45 -
Total - Hawaii
81 82 -1
Total Stores
309 298 11
2018/19 ($000's)2017/18 ($000's)Change
AU S T R AL I AN S AL E S I N AU D
Q1 2018/19 vs Q1 2017/18
Total Store Sales - KFC Australia
39,885 27,550 44.8%
Same Store Sales - KFC Australia
27,583 26,476 4.2%
YTD 2018/19 vs YTD 2017/18
Total Store Sales - KFC Australia
39,885 27,550 44.8%
Same Store Sales - KFC Australia
27,583 26,476 4.2%
H AWAI I AN S AL E S I N U S D
Q1 2018/19 vs Q1 2017/18
Total Store Sales - Taco Bell
16,158 14,686 10.0%
Total Store Sales - Pizza Hut Hawaii
12,250 11,051 10.9%
Total Store Sales - Hawaii
28,408 25,736 10.4%
Same Store Sales - Taco Bell
14,554 14,430 0.9%
Same Store Sales - Pizza Hut Hawaii10,803 11,047 -2.2%
Total Same Store Sales - Hawaii25,357 25,477 -0.5%
YTD 2018/19 vs YTD 2017/18
Total Store Sales - Taco Bell
16,158 14,686 10.0%
Total Store Sales - Pizza Hut Hawaii12,250 11,051 10.9%
Total Store Sales - Hawaii
28,408 25,736 10.4%
Same Store Sales - Taco Bell14,554 14,430 0.9%
Same Store Sales - Pizza Hut Hawaii10,803 11,047 -2.2%
Same Store Sales - Hawaii
25,357 25,477 -0.5%
Some Sales numbers for each of the concepts may not
aggregate in total due to rounding.
*
Note:
- Blended AUD:NZD rate for Q1
0.932 0.928
0.004
- Blended AUD:NZD rate for YTD
0.932 0.928 0.004
- Blended USD:NZD rate for Q10.714 0.701 0.013
- Blended USD:NZD rate for YTD0.714 0.701 0.013
Summary of Results for the 1st Quarter (Q1)
(for the 12 weeks 27/02/2018 to 21/05/18)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report