Restaurant Brands Q4 Sales Announcement

NZX/ASX
25 January 2024


Q4 SALES ANNOUNCEMENT

Restaurant Brands New Zealand Limited (“RBD”) has today released its Q4 sales results.

FY23 Q4 Sales Results
RBD total sales for the fourth quarter to 31 December 2023 increased to $341.1 million. This was up
$9.1 million (+2.7%) over the equivalent period last year.

Strong sales growth in the New Zealand market offset the slowing of sales growth in other regions, as
cost of living pressures, driven by inflation and rising interest rates, reduced discretionary household
expenditure.

Total year sales reached $1,322.2 million (an increase of 6.7% on the prior year). Total sales were
supported by the recovery from the impacts of the 2022 COVID-19 Omicron outbreak earlier in the year,
and a full year of trading from new stores opened in 2022.
The business has continued to implement a strategic programme of price increases across all markets
to relieve margin pressures, while balancing brand health and the financial pressures faced by our
customers.
New Zealand
Fourth quarter sales for New Zealand were $151.4 million, up 8.3% in total and 7.9% on a same store
basis. Sales grew across all brands.

Total year sales were $571.8 million, an increase of 8.1% on the prior year and 6.2% on a same store
basis.
Store numbers increased by two to 147 stores during the quarter. In addition to the 147 company owned
stores, the business has 118 Pizza Hut stores run by independent franchisees (an increase of 10 stores
from December 2022).

Australia
Australia’s sales for the fourth quarter were $A72.3 million ($NZ78.0 million), an increase of 2.4% in
total on the prior year (local currency). Same store sales were down 0.3% (local currency). Sales growth
was lower than the first three quarters as cost of living pressures continued to impact discretionary
household expenditure.

Total year sales were $A286.6 million ($NZ310.1 million). This is an increase of 10.7% on a total basis
on the prior year and 6.5% on a same store basis. Mall and city store sales have recovered to near pre-
COVID-19 levels.

Store numbers decreased by one during the quarter to 84 stores.

Hawaii
Sales for the fourth quarter in Hawaii were $US39.9 million ($NZ66.0 million), a decrease of 1.3% on a
total basis, and up 3.0% on a same store basis (local currency). Hawaii trading continues to be solid
with the decrease in total sales driven primarily by the loss of two stores during the third quarter due to
the large fire on Maui.

Total year sales were $US159.5 million ($NZ259.7 million), an increase of 2.0% on a total basis and
3.5% on a same store basis.
RESTAURANT BRANDS NEW ZEALAND LIMITED

Store numbers decreased by one during the quarter to 70 stores.

California
California’s sales in the fourth quarter were $US27.5 million ($NZ45.6 million), a decrease of 4.9% on
a total basis and 6.3% on a same store basis (local currency). Sales have reduced on the prior year, as
cost of living pressures continued to impact discretionary household expenditure,

Total year sales were $US110.9 million ($NZ180.7 million), a decrease of 2.0% on a total basis and
4.3% on a same store basis.

Store numbers decreased by one to 75 stores during the quarter, with the opening of new two new
stores offset by closures of Azusa (fire damaged), Palm Springs and Yucca Valley stores.

Annual Trading Results
RBD will release its annual trading results for the year ended 31 December 2023 on 26 February 2024.

Despite the significant inflationary pressures faced by the Group in all markets, based on preliminary
unaudited trading results, RBD expects to report full year NPAT for the 2023 financial year within the
provided guidance range of $12 million to $16 million.


For more information: investor@rbd.co.nz

Authorised by:
Arif Khan Julio Valdés
Group CEO
+64 9 525 8700
Group CFO
+64 9 525 8700





Ends.

2023 ($000's )2022 ($000's )Change
Total Store Sales ($NZ)
Q4 2023 vs Q4 2022

New Zealand151,419 139,773 8.3%
Australia78,007 76,870 1.5%
Hawaii
66,040 67,179 (1.7%)
California45,625 48,145 (5.2%)
Total Store Sales341,092 331,967 2.7%
YTD 2023 vs YTD 2022
New Zealand571,771 529,158 8.1%
Australia310,050 283,397 9.4%
Hawaii
259,677 247,458 4.9%
California
180,689 179,035 0.9%
Total Store Sales1,322,187 1,239,047 6.7%
20232022Change
Same Store Sales
Q4 2023 vs Q4 2022
New Zealand
7.9% 4.5% 3.3%
Australia(0.3%)7.4% (7.7%)
Hawaii3.0% 3.2% (0.2%)
California
(6.3%)(2.4%)(3.9%)
YTD 2023 vs YTD 2022
New Zealand
6.2% 2.4% 3.8%
Australia6.5% 6.1% 0.4%
Hawaii3.5% 2.9% 0.6%
California
(4.3%)(2.9%)(1.4%)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 4th Quarter (Q4)
(for the 3 months 01/10/23 to 31/12/23)

2023 ($000's )2022 ($000's )Change
Total Store Sales (Local Currency)
Q4 2023 vs Q4 2022
New Zealand ($NZ)
151,419 139,773 8.3%
Australia ($A)72,326 70,603 2.4%
Hawaii ($US)39,900 40,436 (1.3%)
California ($US)
27,537 28,969 (4.9%)
YTD 2023 vs YTD 2022
New Zealand ($NZ)
571,771 529,158 8.1%
Australia ($A)286,647 258,981 10.7%
Hawaii ($US)159,455 156,353 2.0%
California ($US)
110,930 113,242 (2.0%)
20232022Change
Number Of Stores Open At Quarter End
New Zealand
147 143 4
Australia84 83 1
Hawaii70 75 (5)
California
75 75 0
Total Stores376 376 0
Exchange Rates
- Blended $A:$NZ rate for Q40.927 0.918 0.009
- Blended $A:$NZ rate for YTD0.925 0.914 0.011
- Blended $US:$NZ rate for Q40.604 0.602 0.002
- Blended $US:$NZ rate for YTD0.614 0.632 (0.018)
Note: Som e s ales num bers for each of the divis ions m ay not aggregate in total due to rounding.
Summary of Results for the 4th Quarter (Q4)
(for the 3 months 01/10/23 to 31/12/23)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report