Restaurant Brands Q4 Sales Announcement

Restaurant Brands New Zealand Limited

25 January 2023
ASX/NZX

Restaurant Brands Sales up 16.9% for the Fourth Quarter

Restaurant Brands’ total sales for the fourth quarter to 31 December 2022 increased to $332.0 million
(up 16.9% over the equivalent period last year), as sales recovered from the impacts of the 2021
COVID-19 outbreak in New Zealand and Australia.

Worldwide inflationary pressures continue, with the company still experiencing significant cost
inflation across all regions. The company continues to implement price increases where possible in
response to these increased costs, but margins remain under pressure.

Full year sales reached $1,239.0 million (an increase of 16.0% on the prior year). Total sales growth
was supported by the inclusion of 17 new stores (to 376 stores in total), lower levels of COVID-19
disruption and the strengthening US and Australian dollars over the prior year.

New Zealand

Fourth quarter sales for New Zealand were $139.8 million, up 10.7% in total and 4.5% on a same
store basis.

Sales grew across all brands, largely driven by price increases and the benefit of the removal of
COVID-19 restrictions.

Total annual sales were $529.2 million, an increase of 14.8% on the prior year and 2.4% on a same
store basis.

Store numbers increased by three during the quarter to 143 stores, following the opening of new
KFC stores in Ruakura and Richmond, and the acquisition of the KFC inside the Auckland Airport
International Terminal.

Australia

Australia’s sales for the fourth quarter were $A70.6 million ($NZ76.9 million), an increase of 13.5%
in total (local currency).

Same store sales were up 7.4% (local currency). Mall and in-line inner city store sales continued
their recovery towards pre-COVID-19 sales levels.

Total sales for the full year totalled $A259.0 million ($NZ283.4 million). This is an increase of 12.6%
on a total basis on the prior year and 6.1% on a same store basis.

Store numbers increased by one during the quarter to 83 following the opening of a new KFC store
in South Kempsey, with a new Taco Bell store in Emerald Hills offsetting the closure of the under-
performing Dee Why Taco Bell store.

Hawaii

Sales for the fourth quarter in Hawaii were $US40.4 million ($NZ67.2 million), up 10.4% in total and
3.2% on a same store basis (local currency).

Hawaii trading continues to be strong, with the Hawaiian economy improving on increased tourism
over last year.

Total year sales were $US156.4 million ($NZ247.5 million), an increase of 6.9% on a total basis on
the prior year and 2.9% on a same store basis.

Store numbers remained constant during the quarter at 75 stores.

California

California’s sales in the fourth quarter were $US29.0 million ($NZ48.1 million), an increase of 5.7%
on a total basis but a decrease of 2.4% on a same store basis (local currency).

Same store sales have reduced on the prior year largely due to reduced Californian consumer
spending in the face of high inflation levels and the absence of government stimulus payments.

Total year sales were $US113.2 million ($NZ179.0 million), an increase of 2.7% on a total basis on
the prior year but a decrease of 2.9% on a same store basis.

Store numbers remained constant during the quarter at 75 stores.

Annual Trading Results

The company will release its annual trading results for the year ended 31 December 2022 on
28 February 2023.


Authorised by:

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


ENDS

2022 ($000's )2021 ($000's )Change
Total Store Sales ($NZ)
Q4 2022 vs Q4 2021

New Zealand
139,773 126,222 10.7%
Australia
76,870 65,513 17.3%
Hawaii
67,179 52,712 27.4%
California
48,145 39,541 21.8%
Total Store Sales331,967 283,989 16.9%
YTD 2022 vs YTD 2021
New Zealand
529,158 461,121 14.8%
Australia
283,397 244,104 16.1%
Hawaii
247,458 206,506 19.8%
California
179,035 156,516 14.4%
Total Store Sales
1,239,047 1,068,246 16.0%
20222021Change
Same Store Sales
Q4 2022 vs Q4 2021
New Zealand
4.5% 4.1% 0.4%
Australia
7.4% 1.3% 6.1%
Hawaii
3.2% 7.9% (4.7%)
California
(2.4%)2.2% (4.6%)
YTD 2022 vs YTD 2021
New Zealand
2.4% 9.1% (6.7%)
Australia
6.1% 1.4% 4.7%
Hawaii
2.9% 9.1% (6.2%)
California
(2.9%)2.2% (5.1%)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 4th Quarter (Q4)
(for the 3 months 01/10/22 to 31/12/22)

2022 ($000's )2021 ($000's )Change
Total Store Sales (Local Currency)
Q4 2022 vs Q4 2021
New Zealand ($NZ)
139,773 126,222 10.7%
Australia ($A)
70,603 62,201 13.5%
Hawaii ($US)
40,436 36,614 10.4%
California ($US)
28,969 27,399 5.7%
YTD 2022 vs YTD 2021
New Zealand ($NZ)
529,158 461,121 14.8%
Australia ($A)
258,981 229,990 12.6%
Hawaii ($US)
156,353 146,318 6.9%
California ($US)
113,242 110,265 2.7%
20222021Change
Number Of Stores Open At Quarter End
New Zealand
143 137 6
Australia
83 79 4
Hawaii
75 73 2
California
75 70 5
Total Stores376 359 17
Exchange Rates
- Blended $A:$NZ rate for Q40.918 0.949 (0.031)
- Blended $A:$NZ rate for YTD0.914 0.942 (0.028)
- Blended $US:$NZ rate for Q40.602 0.694 (0.092)
- Blended $US:$NZ rate for YTD0.632 0.707 (0.075)
Note: Some sales numbers for each of the divisions may not aggregate in total due to rounding.
Summary of Results for the 4th Quarter (Q4)
(for the 3 months 01/10/22 to 31/12/22)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report