Restaurant Brands Total Sales Increase 12.8% During Q3

Restaurant Brands New Zealand Limited

22 October 2020
ASX/NZX

Restaurant Brands Total Sales Increase 12.8% During Third Quarter

Restaurant Brands’ total sales for the third quarter of the financial year (three months to 30 September
2020) were $239.8 million, an increase of $27.2 million or 12.8% on the equivalent period last year. The
increase was driven by both the inclusion for the first month of trading for the California acquisition and
strong same store sales in existing businesses. Total sales excluding the California acquisition were up
6.5% on the equivalent period last year. Despite the impact of ongoing COVID-19 restrictions on dine-
in, same store sales for the quarter were positive for all regions.

Total year to date sales were $623.3 million, an increase of 2.4% on the prior year, despite the full
closure of the New Zealand stores for most of April. On a same store basis (removing the impact of
stores closed because of the COVID-19 pandemic) all divisions recorded growth despite the disruptions
to dine in trading arising from COVID-19.

Company store numbers were up by 64 on the equivalent period last year to 348, primarily following the
acquisition of 69 stores in California in September.

New Zealand

Third quarter total sales for New Zealand were $115.9 million, an increase of 5.4% on the equivalent
period last year, despite the reintroduction of Government-mandated trading restrictions, particularly in
the Auckland region from 12 August to the end of September.

On a same store basis sales were up 5.9% for the quarter, with KFC and Carl’s Jr. continuing to trade
strongly.

Year to date sales for New Zealand were $290.5 million, a decrease of 8.4% in total as a direct result
of five weeks of Government-mandated full store closures earlier in the year; but up 4.0% on a same
store basis.

Store numbers decreased by 11 during the quarter to 139, with the sale of 12 Pizza Hut stores to
independent franchisees and the acquisition of KFC Kapiti from an independent franchisee.

Australia

Third quarter sales for Australia were $A53.0 million ($NZ57.4 million), an increase of 9.1%. This
primarily arose from the increase in store numbers over last year with the opening of 2 Taco Bell and 2
KFC stores. On a same store basis sales were up 3.3% (local currency), despite the unavailability of
instore dining for most stores due to local COVID-19 restrictions.

Year to date sales for Australia were $A147.3 million ($NZ156.5 million), an increase of 7.2% in total,
due to new store openings late last year and up 1.4% on a same store basis (local currency).

Store numbers remained steady at 65 during the quarter, with two more Taco Bell stores planned to
open in November, bringing the brand to four stores.



Hawaii

Third quarter sales in Hawaii were $US35.0 million ($NZ53.2 million). This was an increase of 5.1% in
total and up 8.7% on a same store basis (local currency). The small downturn in Taco Bell sales arising
from the ongoing unavailability of instore dining (due to local COVID-19 restrictions) was more than
offset by strong Pizza Hut sales which continue to benefit from newly enhanced web order and delivery
functions.

Year to date sales were $US103.7 million ($NZ162.8 million), an increase of 6.5% on a total basis and
8.2% on a same store basis (local currency).

Store numbers remained steady at 75 during the quarter.

California

In early September the company acquired 69 stores (58 KFC and 11 joint KFC/Taco Bell) in California.

For the first month of trading the sales were $US8.8 million ($NZ13.4 million), up on both prior year
levels and pre-purchase expectations.


Authorised by:

Russel Creedy Grant Ellis
CEO
+64 9 525 8700
CFO
+64 9 525 8700


ENDS

2020 ($000's)
2019 ($000's)
Change
Total Store Sales ($NZ)
Q3 2020 vs Q3 2019

New Zealand
115,917


109,943


5.4%
Australia
57,389


51,380


11.7%
Hawaii
53,150


51,290


3.6%
California
13,385


-


n/a
Total Store Sales
239,841


212,614


12.8%
YTD 2020 vs YTD 2019
New Zealand
290,520


317,076


(8.4%)
Australia
156,526


144,807


8.1%
Hawaii
162,848


146,799


10.9%
California
13,385


-


n/a
Total Store Sales
623,278


608,682


2.4%
2020
2019
Change
Same Store Sales
Q3 2020 vs Q3 2019
New Zealand
5.9%
5.6%
0.3%
Australia
3.3%
3.9%
(0.6%)
Hawaii
8.7%
8.8%
(0.1%)
YTD 2020 vs YTD 2019
New Zealand
4.0%
5.3%
(1.3%)
Australia
1.4%
5.3%
(3.9%)
Hawaii
8.2%
9.0%
(0.8%)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 3rd Quarter (Q3)
(for the 3 months 01/07/20 to 30/09/20)

2020 ($000's)
2019 ($000's)
Change
Total Store Sales (Local Currency)
Q3 2020 vs Q3 2019
Australia ($A)
52,978


48,544


9.1%
Hawaii ($US)
34,997


33,291


5.1%
California ($US)
8,832


-


n/a
YTD 2020 vs YTD 2019
Australia ($A)
147,339


137,440


7.2%
Hawaii ($US)
103,727


97,399


6.5%
California ($US)
8,832


-


n/a
2020
2019
Change
Number Of Stores Open At Quarter End
New Zealand
139


144


(5)
Australia
65


61


4
Hawaii
75


79


(4)
California
69


-


69
Total Stores
348


284


64
Exchange Rates
- Blended $A:$NZ rate for Q3
0.923


0.945


(0.022)
- Blended $A:$NZ rate for YTD
0.941


0.949


(0.008)
- Blended $US:$NZ rate for Q3
0.669


0.649


0.020
- Blended $US:$NZ rate for YTD
0.639


0.663


(0.026)
Note: Some sales numbers for each of the divisions may not aggregate in total due to rounding.
Summary of Results for the 3rd Quarter (Q3)
(for the 3 months 01/07/20 to 30/09/20)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report