Restaurant Brands Third Quarter Sales

13 December 2018
ASX/NZX


Restaurant Brands’ Third Quarter Sales Up 4.7% with Strong Growth in Overseas Operations

Restaurant Brands’ total sales for the third quarter of the financial year (12 weeks to 3 December 2018) were
$181.5 million, an increase of 4.7% or $8.2 million on the equivalent period last year.

New Zealand operations generated sales of $94.7 million, down 2.2% on a total basis and up 2.2% on a
same store basis. Australian KFC outlets produced sales of $NZ44.3 million, up 18.8% on a total basis, and
2.4% on a same store basis (local currency). Hawaiian operations generated sales of $NZ42.5 million, up
8.5% on a total basis and 3.6% on a same store basis (local currency).

Year to date sales were $612.5 million, an increase of 9.5% over the prior year on a total basis.

Total company store numbers were down by 26 on the equivalent period last year to 284, primarily because
of the sale of the 22 Starbucks Coffee stores in October and the sale of five New Zealand Pizza Hut stores
to independent franchisees.

KFC New Zealand

Total third quarter sales for KFC New Zealand were $77.2 million, an increase of 5.0% on the equivalent
period last year and up 4.1% on a same store basis for this quarter.

Year to date sales for KFC New Zealand were $256.5 million, an increase of 5.2% in total and up 3.9% on a
same store basis.

Store numbers remained steady at 94 during the quarter, and one higher than last year.

Pizza Hut New Zealand

Total third quarter sales for Restaurant Brands-owned Pizza Hut stores were $7.6 million, a decrease of
18.3% on the equivalent period last year. Same store sales for the quarter decreased by 6.1%.

Year to date sales for Restaurant Brands-owned Pizza Hut stores were $28.0 million, a decrease of 12.8%
in total, and down 5.2% on a same store basis.

Restaurant Brands-owned store numbers were steady through the quarter and down by five from last year
to 29 as five Pizza Hut stores were sold to independent franchisees. There are now 67 Pizza Hut stores
operated by independent franchisees, with the total network at 96 stores.

Network total sales for the quarter were $23.1 million, an increase of 0.3%. Year to date network total sales
were $79.0 million, an increase of 1.3%.

Starbucks Coffee

Starbucks Coffee total sales for the third quarter were $3.0 million, 50.3% lower in total due to the sale of the
22 stores completing during the quarter. Same store sales for the quarter were up 5.0%.

Year to date sales for Starbucks Coffee were $16.0 million, an increase of 4.0% on a same store basis.


RESTAURANT BRANDS NEW ZEALAND LIMITED

Carl’s Jr.

Total Carl’s Jr. sales for the third quarter were $7.0 million, a decrease of 13.9% on the equivalent period
last year with the network having one less store than last year. Same store sales for the quarter were down
by 8.3%.

Year to date sales for Carl’s Jr. were $24.4 million, a decrease 9.2% on a total basis and 3.9% on a same
store basis.

Store numbers remained steady at 18 during the quarter.

KFC Australia

Third quarter sales for KFC Australia were $A40.9 million ($NZ44.3 million), an increase of 21.3% on a total
basis and 2.4% on a same store basis (local currency).

Year to date sales for KFC Australia were $A136.4 million ($NZ147.7 million), an increase of 35.8% on a
total basis and 3.8% on a same store basis (local currency).

Store numbers increased by one to 62 stores during the quarter with one new store opening. Total store
numbers are three higher than last year from the acquisition of two stores and one new store opening.

Taco Bell Hawaii

Total Taco Bell sales for the third quarter were $US16.7 million ($NZ25.1 million), an increase of 7.2% on a
total basis and 8.1% on a same store basis (local currency).

Year to date sales for Taco Bell were $US55.4 million ($NZ81.2 million), an increase of 6.0% on a total basis
and 4.7% 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 third quarter were $US11.7 million ($NZ17.5 million), a decrease of 0.1%
on a total basis and 2.4% on a same store basis (local currency).

Year to date Pizza Hut Hawaii sales were $US40.1 million ($NZ58.7 million), an increase of 3.0% on a total
basis and a decrease of 2.1% on a same store basis (local currency).

Store numbers remained steady at 45 during the quarter.



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)
Q3 2018/19 vs Q3 2017/18

KFC New Zealand77,213

73,549

5.0%
Pizza Hut New Zealand7,566

9,258

-18.3%
Starbucks Coffee2,973

5,977

-50.3%
Carl's Jr.6,958

8,079

-13.9%
New Zealand94,710

96,863

-2.2%
KFC Australia *44,270

37,279

18.8%
Taco Bell *25,068

22,422

11.8%
Pizza Hut Hawaii *17,460

16,778

4.1%
Hawaii *42,528

39,200

8.5%
Total Store Sales181,508

173,342

4.7%
YTD 2018/19 vs YTD 2017/18
KFC New Zealand256,477

243,856
5.2%
Pizza Hut New Zealand28,018
32,120

-12.8%
Starbucks Coffee16,022

19,402
-17.4%
Carl's Jr.
24,419
26,882

-9.2%
New Zealand
324,936
322,260
0.8%
KFC Australia *
147,661
109,143
35.3%
Taco Bell *
81,183
73,372

10.6%
Pizza Hut Hawaii *58,716

54,697
7.3%
Hawaii *139,899
128,069

9.2%
Total Store Sales
612,495
559,472

9.5%
* - Converted at exchange rates on following page
Same Store Sales (Local Currency)
Q3 2018/19 vs Q3 2017/18
KFC New Zealand
75,996 73,037
4.1%
Pizza Hut New Zealand7,346
7,822
-6.1%
Starbucks Coffee2,973
2,832
5.0%
Carl's Jr.
6,957 7,590
-8.3%
New Zealand ($NZ)93,271
91,281
2.2%
KFC Australia ($A)
33,020 32,239
2.4%
Taco Bell16,429 15,195
8.1%
Pizza Hut Hawaii
11,292 11,570
-2.4%
Hawaii ($US)27,721
26,765
3.6%
YTD 2018/19 vs YTD 2017/18
KFC New Zealand251,097
241,727 3.9%
Pizza Hut New Zealand
27,242 28,743 -5.2%
Starbucks Coffee15,993 15,374
4.0%
Carl's Jr.24,415 25,397
-3.9%
New Zealand ($NZ)318,746 311,241
2.4%
KFC Australia ($A)100,154 96,458
3.8%
Taco Bell53,166 50,793 4.7%
Pizza Hut Hawaii37,603 38,416 -2.1%
Hawaii ($US)90,769 89,210 1.7%
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 3rd Quarter (Q3)
(for the 12 weeks 11/09/18 to 03/12/18)

2018/19 ($000's)2017/18 ($000's)Change
Total Store Sales (Local Currency)
Q3 2018/19 vs Q3 2017/18
KFC Australia ($A)40,933 33,741 21.3%
Taco Bell16,743 15,618 7.2%
Pizza Hut Hawaii11,670 11,686 -0.1%
Hawaii ($US)
28,412 27,304 4.1%
YTD 2018/19 vs YTD 2017/18
KFC Australia ($A)136,413 100,460 35.8%
Taco Bell55,383 52,246 6.0%
Pizza Hut Hawaii40,113 38,938 3.0%
Hawaii ($US)95,496 91,185 4.7%
2018/192017/18Change
Number Of Stores Open At Quarter End
KFC New Zealand94 93 1
Pizza Hut New Zealand29 34 -5
Starbucks Coffee- 23 -23
Carl's Jr.
18 19 -1
New Zealand141 169 -28
KFC Australia62 59 3
Taco Bell36 37 -1
Pizza Hut Hawaii45 45 -
Hawaii81 82 -1
Total Stores284 310 -26
Exchange Rates
- Blended $A:$NZ rate for Q30.925 0.905 0.020
- Blended $A:$NZ rate for YTD0.924 0.920 0.003
- Blended $US:$NZ rate for Q30.668 0.697 -0.028
- Blended $US:$NZ rate for YTD0.683 0.712 -0.029
Note: Some Sales numbers for each of the concepts may not aggregate in total due to rounding.
Summary of Results for the 3rd Quarter (Q3)
(for the 12 weeks 11/09/18 to 03/12/18)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report