Restaurant Brands Second Quarter Sales

20 September 2018
NZX/ASX


Restaurant Brands’ Second Quarter Sales Up 11.6% Following Further Australian Acquisitions

Restaurant Brands’ total sales for the second quarter of the financial year (16 weeks to 10 September 2018)
were $251.0 million, an increase of 11.6% or $26.1 million on the equivalent period last year.

New Zealand operations generated sales of $132.8 million, up 1.7% on a total basis and 2.4% on a same
store basis. Australian KFC outlets produced sales of $NZ60.6 million, up 43.7% on a total basis, and 4.8%
on a same store basis (local currency). Hawaiian operations generated sales of $NZ57.6 million, up 10.4%
on a total basis and 2.0% on a same store basis (local currency).

Year to date sales were $431.0 million, an increase of 11.6% over the prior year on a total basis.

Total company store numbers were up by eight on the equivalent period last year to 305, primarily from the
acquisition of a further 13 KFC stores in Australia offset by the sale of five New Zealand Pizza Hut stores to
independent franchisees.

KFC New Zealand

Total second quarter sales for KFC New Zealand were $104.3 million, an increase of 4.9% on the equivalent
period last year and up 3.5% on a same store basis for this quarter.

Year to date sales for KFC New Zealand were $179.3 million, an increase of 5.3% in total and up 3.8% on a
same store basis.

Store numbers remained steady at 94 during the quarter.

Pizza Hut New Zealand

Total second quarter sales for Restaurant Brands-owned Pizza Hut stores were $11.3 million, a decrease of
14.4% on the equivalent period last year. Same store sales for the quarter decreased by 4.8%.

Year to date sales for Restaurant Brands-owned Pizza Hut stores were $20.5 million, a decrease of 10.5%
in total, and down 4.9% on a same store basis.

Restaurant Brands-owned stores reduced by four during the quarter to 29 as four Pizza Hut stores were sold
to independent franchisees. There are now 69 Pizza Hut stores operated by independent franchisees, with
the total network at 98 stores.

Network total sales for the quarter were $32.5 million, an increase of 2.1%. Year to date network total sales
were $55.8 million, an increase of 1.7%.

Starbucks Coffee

Starbucks Coffee total sales for the second quarter were $7.3 million, consistent with the equivalent period
last year despite the network having one less store. Same store sales for the quarter were up 5.2%.

Year to date sales for Starbucks Coffee were $13.0 million, an increase of 3.8% on a same store basis.

Store numbers remained steady at 22 during the quarter.

RESTAURANT BRANDS NEW ZEALAND LIMITED

Carl’s Jr.

Total Carl’s Jr. sales for the second quarter were $9.9 million, a decrease of 7.3% on the equivalent period
last year with the network having one less store. Same store sales for the quarter were down by 1.3%.

Year to date sales for Carl’s Jr. were $17.5 million, a decrease of 2.0% on a same store basis.

Store numbers remained steady at 18 during the quarter.

KFC Australia

Second quarter sales for KFC Australia were $A55.6 million ($NZ60.6 million), an increase of 41.9% on a
total basis and 4.8% on a same store basis (local currency).

Year to date sales for KFC Australia were A$95.5 million ($NZ103.4 million), an increase of 43.1% on a total
basis and 4.5% on a same store basis (local currency).

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 Taco Bell sales for the second quarter were $US22.5 million ($NZ33.5 million), an increase of 2.5% on
a total basis and 4.8% on a same store basis (local currency).

Year to date sales for Taco Bell were $US38.6 million ($NZ56.1 million), an increase of 5.5% on a total basis
and 3.2% on a same store basis (local currency).

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

Pizza Hut Hawaii

Total Pizza Hut Hawaii sales for the second quarter were $US16.2 million ($NZ24.1 million), a decrease of
0.1% on a total basis and 1.8% on a same store basis (local currency).

Year to date Pizza Hut Hawaii sales were $US28.4 million ($NZ41.3 million), an increase of 4.4% on a total
basis and a decrease of 2.0% on a same store basis (local currency).

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

Half Year Results

The financial results for the first half year will be released on 18 October 2018.




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 ($000's)Change
Total Store Sales ($NZ)
Q2 2018/19 vs Q2 2017/18

KFC New Zealand
104,299 99,424 4.9%
Pizza Hut New Zealand11,275 13,164 -14.4%
Starbucks Coffee7,304 7,308 0.0%
Carl's Jr.9,913 10,697 -7.3%
New Zealand132,792 130,594 1.7%
KFC Australia *60,600 42,163 43.7%
Taco Bell *33,476 29,996 11.6%
Pizza Hut Hawaii *24,092 22,151 8.8%
Hawaii *57,569 52,147 10.4%
Total Store Sales
250,960 224,903 11.6%
YTD 2018/19 vs YTD 2017/18
KFC New Zealand
179,264 170,307 5.3%
Pizza Hut New Zealand20,452 22,862 -10.5%
Starbucks Coffee
13,049 13,425 -2.8%
Carl's Jr.
17,461 18,803 -7.1%
New Zealand230,226 225,397 2.1%
KFC Australia *
103,391 71,864 43.9%
Taco Bell *
56,115 50,950 10.1%
Pizza Hut Hawaii *41,255 37,919 8.8%
Hawaii *97,370 88,869 9.6%
Total Store Sales430,987 386,130 11.6%
* - Converted at exchange rates on following page
Same Store Sales (Local Currency)
Q2 2018/19 vs Q2 2017/18
KFC New Zealand101,849 98,432 3.5%
Pizza Hut New Zealand
11,061 11,623 -4.8%
Starbucks Coffee
7,294 6,934 5.2%
Carl's Jr.
9,911 10,043 -1.3%
New Zealand ($NZ)130,115 127,031 2.4%
KFC Australia ($A)
39,551 37,743 4.8%
Taco Bell22,183 21,169 4.8%
Pizza Hut Hawaii
15,508 15,799 -1.8%
Hawaii ($US)
37,691 36,967 2.0%
YTD 2018/19 vs YTD 2017/18
KFC New Zealand175,101 168,690 3.8%
Pizza Hut New Zealand19,897 20,921 -4.9%
Starbucks Coffee13,020 12,542 3.8%
Carl's Jr.17,458 17,807 -2.0%
New Zealand ($NZ)225,475 219,960 2.5%
KFC Australia ($A)67,134 64,219 4.5%
Taco Bell36,737 35,599 3.2%
Pizza Hut Hawaii26,311 26,846 -2.0%
Hawaii ($US)63,048 62,445 1.0%
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 2nd Quarter (Q2)
(for the 16 weeks 22/05/2018 to 10/09/18)

2018/19 ($000's)2017/18 ($000's)Change
Total Store Sales (Local Currency)
Q2 2018/19 vs Q2 2017/18
KFC Australia ($A)55,595 39,168 41.9%
Taco Bell22,482 21,942 2.5%
Pizza Hut Hawaii16,193 16,202 -0.1%
Hawaii ($US)38,675 38,144 1.4%
YTD 2018/19 vs YTD 2017/18
KFC Australia ($A)95,480 66,718 43.1%
Taco Bell38,640 36,628 5.5%
Pizza Hut Hawaii
28,443 27,252 4.4%
Hawaii ($US)67,083 63,880 5.0%
2018/192017/18Change
Number Of Stores Open At Quarter End
KFC New Zealand94 92 2
Pizza Hut New Zealand29 34 -5
Starbucks Coffee22 23 -1
Carl's Jr.18 19 -1
New Zealand163 168 -5
KFC Australia61 47 14
Taco Bell36 37 -1
Pizza Hut Hawaii45 45 -
Hawaii81 82 -1
Total Stores305 297 8
Exchange Rates
- Blended $A:$NZ rate for Q20.917 0.929 -0.012
- Blended $A:$NZ rate for YTD0.923 0.928 -0.005
- Blended $US:$NZ rate for Q20.672 0.731 -0.060
- Blended $US:$NZ rate for YTD0.689 0.719 -0.030
Note: Some Sales numbers for each of the concepts may not aggregate in total due to rounding.
Summary of Results for the 2nd Quarter (Q2)
(for the 16 weeks 22/05/2018 to 10/09/18)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report