Restaurant Brands Third Quarter Sales

16 December 2019
ASX/NZX

Restaurant Brands Strong Sales Growth Continues in the Third Quarter

Restaurant Brands’ total sales for the third quarter of the financial year (12 weeks to 2 December 2019)
were $192.0 million, an increase of $10.5 million or 5.8% on the equivalent period last year. Each of the
operating divisions (New Zealand, Australia and Hawaii) maintained strong same store sales growth
with sales increases of +5.6%, +3.9% and +8.8% respectively.

New Zealand operations sales were $99.6 million, up 5.2% in total (despite the partial impact of the sale
of the Starbucks Coffee business in October 2018), and up 5.6% on a same store basis. Australian KFC
outlets produced sales of $NZ46.5 million, up 6.7% on a total basis and 3.9% on a same store basis
(local currency). Hawaiian operations sales were $NZ45.8 million, up 2.7% on a total basis and 8.8%
on a same store basis (local currency).

Year to date sales were $634.5 million, an increase of 3.6% over the prior year on a total basis.

Company store numbers were up by two on the equivalent period last year to 286.

KFC New Zealand

Third quarter sales for KFC New Zealand were $83.6 million, an increase of 8.3% on the equivalent
period last year and up 5.5% on a same store basis for this quarter.

Year to date sales for KFC New Zealand were $277.1 million, an increase of 8.0% on a total basis and
5.6% on a same store basis.

Store numbers increased by two during the quarter with the opening of stores at WestCity and
Newmarket, and increased by five on the prior year with stores opening during the first quarter at
Bombay, Courtenay Place and Tauranga Crossing.

Pizza Hut New Zealand

Third quarter sales for Restaurant Brands-owned Pizza Hut stores were $7.6 million, an increase of
0.8% on the equivalent period last year. Same store sales for the quarter decreased by 3.2%.

Year to date sales for Restaurant Brands-owned Pizza Hut stores were $25.9 million, a decrease of
7.4% in total, and down 4.1% on a same store basis.

Restaurant Brands-owned store numbers decreased by one during the quarter to 29 stores, and
constant with last year. There are now 73 Pizza Hut stores operated by independent franchisees of a
network of 102 stores.

Network total sales for the quarter were $23.4 million, an increase of 1.2%. Year to date network total
sales were $77.0 million, a decrease of 2.5%.



RESTAURANT BRANDS NEW ZEALAND LIMITED

Carl’s Jr.

Total Carl’s Jr. sales for the third quarter were $8.0 million, an increase of 15.5% on both a total and
same stores basis on the equivalent period last year following the introduction of delivery via the
UberEats platform.

Year to date sales for Carl’s Jr. were $27.0 million, an increase of 10.7% on a total basis and 11.4%
on a same store basis.

Store numbers remained steady at 18 during the quarter.

Taco Bell New Zealand.

The first New Zealand Taco Bell store opened in November with strong sales from three weeks of
trading of $0.3 million.

KFC Australia

Third quarter sales for KFC Australia were $A43.7 million ($NZ46.5 million), an increase of 6.7% on a
total basis and 3.9% on a same store basis (local currency).

Year to date sales for KFC Australia were $A143.1 million ($NZ151.4 million), an increase of 4.9% on a
total basis and 5.3% on a same store basis (local currency).

Store numbers increased by one to 62 during the quarter with the opening of the Darlinghurst store.

Taco Bell Australia

Restaurant Brand’s first Australian Taco Bell store recently opened in Newcastle during the first week
of quarter four.

Taco Bell Hawaii

Total Taco Bell sales for the third quarter were up to $US17.6 million ($NZ27.7 million) on the back of
several successful promotions. This was an increase of 5.4% on a total basis and 13.5% on a same
store basis (local currency).

Year to date sales for Taco Bell were $US60.1 million ($NZ91.7 million), an increase of 8.4% on a total
basis and 13.6% on a same store basis (local currency).

Store numbers remained steady at 36 during the quarter.

Pizza Hut Hawaii

Pizza Hut Hawaii sales for the third quarter were $US11.5 million ($NZ18.1 million), a decrease of 1.2%
on a total basis and up 2.3% on a same store basis (local currency).

Year to date Pizza Hut Hawaii sales were $US40.0 million ($NZ61.0 million), a decrease of 0.3% on a
total basis but up 2.8% on a same store basis (local currency).

Store numbers were down two during the quarter to 41 following the expiry of leases on the Hawaii Kai
and Kapaa stores, and down four on last year.

Full Year Results

Following the change in balance date to 31 December the company expects to release its full year
trading results in late February 2020.



For further information please contact:

Russel Creedy Grant Ellis
CEO CFO/Company Secretary
Phone: +64 9 525 8700 Phone: +64 9 525 8700

ENDS

2019 ($000's)2018/19 ($000's)Change
Total Store Sales ($NZ)
Q3 2019 vs Q3 2018/19
KFC New Zealand83,631

77,213

8.3%
Pizza Hut New Zealand7,627


7,566

0.8%
Starbucks Coffee
-


2,973
n/a
Carl's Jr.
8,034
6,958 15.5%
Taco Bell New Zealand317
- n/a
New Zealand99,609 94,710

5.2%
KFC Australia *
46,531 44,270 5.1%
Taco Bell Hawaii *27,702 25,068

10.5%
Pizza Hut Hawaii *18,118
17,460

3.8%
Hawaii *45,820

42,528
7.7%
Total Store Sales
191,960
181,508
5.8%
YTD 2019 vs YTD 2018/19
KFC New Zealand
277,119
256,477
8.0%
Pizza Hut New Zealand25,936
28,018

(7.4%)
Starbucks Coffee
-
16,022
n/a
Carl's Jr.27,035
24,419 10.7%
Taco Bell New Zealand
317
- n/a
New Zealand330,406
324,936
1.7%
KFC Australia *151,377
147,661
2.5%
Taco Bell Hawaii *91,700
81,183
13.0%
Pizza Hut Hawaii *
61,039
58,716
4.0%
Hawaii *152,739
139,899
9.2%
Total Store Sales634,522
612,495

3.6%
* - Converted at exchange rates on following page
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 3rd Quarter (Q3)
(for the 12 weeks 10/09/19 to 02/12/19)

2019 ($000's)2018/19 ($000's)Change
Total Store Sales (Local Currency)
Q3 2019 vs Q3 2018/19
KFC Australia ($A)
43,662 40,933 6.7%
Taco Bell Hawaii
17,647 16,743 5.4%
Pizza Hut Hawaii11,526 11,670 (1.2%)
Hawaii ($US)
29,173 28,412 2.7%
YTD 2019 vs YTD 2018/19
KFC Australia ($A)
143,120 136,413 4.9%
Taco Bell Hawaii60,060 55,383 8.4%
Pizza Hut Hawaii
39,986 40,113 (0.3%)
Hawaii ($US)100,045 95,496 4.8%
20192018/19Change
Number Of Stores Open At Quarter End
KFC New Zealand99 94 5
Pizza Hut New Zealand29 29 -
Starbucks Coffee- - -
Carl's Jr.18 18 -
Taco Bell New Zealand1 - 1
New Zealand147 141 6
KFC Australia62 62 -
Taco Bell Hawaii36 36 -
Pizza Hut Hawaii41 45 (4)
Hawaii77 81 (4)
Total Stores286 284 2
Exchange Rates
- Blended $A:$NZ rate for Q30.938 0.925 0.014
- Blended $A:$NZ rate for YTD0.945 0.924 0.022
- Blended $US:$NZ rate for Q30.637 0.668 (0.031)
- Blended $US:$NZ rate for YTD0.655 0.683 (0.028)
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 10/09/19 to 02/12/19)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report