Guzman Y Gomez Ltd. · ASX:GYG
Guzman Y Gomez — FY2026 Earnings Presentation
43 slides from Guzman Y Gomez's earnings presentation, Aug 21, 2026
Slide 1: FY26 Results Presentation
FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 2: Our vision, mission and values underpin our strategy
OUR VISION, MISSION AND VALUES UNDERPIN OUR STRATEGY FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ 2
Slide 3: Draft – subject to audit and verification
DRAFT – subject to audit and verification FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 4: Another year of significant growth
ANOTHER YEAR OF SIGNIFICANT GROWTH Strong growth across key financial metrics; exit from US operations complete $1,377.8m $85.0m +17.9% vs FY25 +28.7% vs FY25 $53.4m $(26.7)m +29.7% vs FY25 52.1 cps 48.0 cps +33.9% vs FY25 fully franked, includes 14.4 cps special dividend Note: Continuing operations
Slide 5: Consistent excellence across core operating metrics
CONSISTENT EXCELLENCE ACROSS CORE OPERATING METRICS 5.3% Comp sales growth 32 New restaurant 20% Network restaurant (Australia Segment) openings in margin1 Australia 22% drive thru margin1 47% Median 36 Restaurants trading 117 Restaurants in pipeline franchisee ROI1 24/7 with commercial terms agreed
Slide 6: Impressive track record of sales growth
IMPRESSIVE TRACK RECORD OF SALES GROWTH… GLOBAL RESTAURANT NETWORK GLOBAL NETWORK SALES (#) ($m) 284 1,378 14% 250 1,168 216 26% CAGR 191 949 168 157 CAGR 753 137 127 116 573 93 446 76 304 254 207 137 166 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
Slide 7: Continues to drive earnings growth and expand margin
…CONTINUES TO DRIVE EARNINGS GROWTH AND EXPAND MARGIN UNDERLYING EBITDA UNDERLYING EBITDA % OF NETWORK SALES ($m) (%) 40% CAGR 85.0 210 bps 6.2% 5.7% 66.0 4.8% 45.6 4.1% 30.7 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Note: Continuing operations only. Adjusted for pro forma items in FY23 and FY24. FY26
Slide 8: Progress on key earnings growth levers
PROGRESS ON KEY EARNINGS GROWTH LEVERS Improving sales Driving restaurant Enabling shared Building foundations Successfully Exit from US momentum network expansion, value creation for for long-term margin implemented new operations throughout the with 32 openings in franchisees and GYG, expansion, e
Slide 9: Strong earnings growth in continuing operations
STRONG EARNINGS GROWTH IN CONTINUING OPERATIONS Group performance summary $ million, unless otherwise stated FY26 FY25 Change Results from continuing operations Network sales 1,377.8 1,168.5 17.9% Underlying EBITDA 85.0 66.0 28.7% D&A on PPE and intangibles1 (18.8) (19.7) (4.3%) Net interest income
Slide 10: US exit summary
US EXIT SUMMARY Wind down of US restaurant operations now complete US$ million, unless otherwise stated FY26 May-26 guidance • US operations now accounted for as discontinued operations. This includes both the trading result and Results from discontinued operations one-off closure costs • Commercial
Slide 11: FY26 Results Presentation
FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 12: Strong momentum across Australia and Asia
STRONG MOMENTUM ACROSS AUSTRALIA AND ASIA +32 1 $1,291m 255 $87m +3 5 24 +17.9% 93 CORPORATE +17.9% FY26 NETWORK SALES 162 FRANCHISE FY26 NETWORK SALES • Network sales growth of 17.9% driven by new restaurant openings • Three new restaurant openings in Singapore, bringing the total and transaction-l
Slide 13: Operating leverage delivered through sales growth
OPERATING LEVERAGE DELIVERED THROUGH SALES GROWTH Australia Segment performance in-line with guidance • Network sales growth underpinned by new restaurant openings and $ million, unless otherwise stated FY26 FY25 Change transaction-led comp sales growth Network sales 1,377.8 1,168.5 17.9% • Expansio
Slide 14: Exceptional restaurant economics
EXCEPTIONAL RESTAURANT ECONOMICS… Australian restaurant economics underpinning network growth Network AUVs ($m) and restaurant margins (%) by format1 6.7 6.9 • Drive thrus continue to outperform with 6.2 average AUV at $6.9 million. 26 new drive 5.7 thrus were opened in the period, bringing 21.5% 21
Slide 15: Support growing franchisee profitability
…SUPPORT GROWING FRANCHISEE PROFITABILITY Profitability of Australian franchisees continues to grow Median franchise AUVs ($m) and restaurant margins (%)1 • 19 franchise restaurants opened 5.4 5.8 during the period 5.1 4.6 • Welcomed ten new franchise 19.9% 20.8% owners, including seven internal tea
Slide 16: Comp sales momentum built throughout the year
COMP SALES MOMENTUM BUILT THROUGHOUT THE YEAR Significant progress made against all volume growth levers • Successful launch of new • Comp sales growth across • Successful launch of • Entered exclusive strategic • Value offering highlighted OMS driving operational all dayparts, led by Caesar range u
Slide 17: Network expansion accelerating
NETWORK EXPANSION ACCELERATING KEY AUSTRALIAN REAL ESTATE METRICS1 117 Restaurants in pipeline with 62 Additions to pipeline during commercial terms agreed the period 85% Drive thrus in pipeline with 32 New restaurant commercial terms agreed openings in FY26 FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 18: FY26 Results Presentation
FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 19: Strong conversion of earnings into cash flows
STRONG CONVERSION OF EARNINGS INTO CASH FLOWS $ million FY26 FY25 Statutory NPAT including discontinued operations (26.7) 14.5 Depreciation and amortisation expense 43.6 39.7 Impairment relating to US closure 33.1 - Net finance costs / (income) 1.9 (3.8) • Group operating cash flow growth of Changes
Slide 20: Capital expenditure
CAPITAL EXPENDITURE Growth in capital expenditure driven by corporate restaurant openings $ million FY26 FY25 • $26.5 million (net of lease incentives) Restaurant capital expenditure 45.4 45.5 invested into Australian restaurants for the construction of 13 new corporate Other capital expenditure 0.6
Slide 21: Balance sheet
BALANCE SHEET $ million FY26 FY25 Cash and term deposits 170.5 281.7 Trade and other receivables 20.6 24.8 • GYG has a healthy balance sheet that Inventories 7.1 3.8 provides significant flexibility for future restaurant network expansion Finance lease receivable 232.2 174.8 Property, plant and equi
Slide 22: FY26 Results Presentation
FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 23: Capital allocation framework
CAPITAL ALLOCATION FRAMEWORK Disciplined reinvestment in high-return growth, with surplus capital returned to shareholders HIGHLY CASH-GENERATIVE STRONG BALANCE SHEET • GYG is a highly cash-generative BUSINESS business with a strong balance sheet Disciplined investment to drive long-term growth and
Slide 24: Application of framework in FY26
APPLICATION OF FRAMEWORK IN FY26 Invested significantly in restaurants and returned $120 million to shareholders HIGHLY CASH-GENERATIVE STRONG BALANCE SHEET • Generated $98 million in BUSINESS operating cash flows1 in FY26 Disciplined investment to drive long-term growth and shareholder returns • Op
Slide 25: Dividend methodology
DIVIDEND METHODOLOGY GYG’s dividend reflects distribution of the majority of underlying earnings $ million, unless otherwise stated FY26 • Underlying NPAT is the basis on which the Underlying EBITDA 85.0 Board determines dividends as it removes D&A on PPE and intangibles (18.8) non-cash accounting i
Slide 26: Share buyback
SHARE BUYBACK Continue to pursue an opportunistic buyback program when valuation is compelling • $100 million deployed in share buyback activity during FY26, with 5.1 million shares acquired on-market at an average price of $19.58 per share • In line with GYG’s capital allocation framework and the s
Slide 27: Draft – subject to audit and verification
DRAFT – subject to audit and verification FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 28: Medium-term network growth and margin outlook
MEDIUM-TERM NETWORK GROWTH AND MARGIN OUTLOOK On track to deliver underlying EBITDA as a % network sales of ~10% over the medium term, consistent with outlook provided at FY25 result FY23 FY24 FY25 FY26 Medium-term Commentary New restaurant • ~60:40 franchise / corporate (average) 22 25 32 32 ~40 op
Slide 29: FY27 guidance
FY27 GUIDANCE GYG expects FY27 to be another year of strong network and earnings growth • GYG expects to open 35 new • GYG expects comp sales growth to • Underlying EBITDA as a percentage restaurants in Australia in FY271 continue at mid-single digits in the of network sales is expected to 2027 full
Slide 30: FY26 Results Presentation
FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 31: FY26 Results Presentation
FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ
Slide 32: Illustrative impact of AASB 16
ILLUSTRATIVE IMPACT OF AASB 16 For a fast-growing business like GYG, AASB 16 distorts underlying performance Illustrative P&L impact of a 20-year drive thru lease AASB 16 P&L charge exceeds cash rent in the • The accounting outcome under AASB 16 P&L charge is less than cash rent in the front half of
Slide 33: Reconciliation from statutory to underlying earnings
RECONCILIATION FROM STATUTORY TO UNDERLYING EARNINGS Group underlying earnings from continuing operations AASB 2 AASB 16 Share-based Other Total $ million, unless otherwise stated Statutory Leases Payments adjustments1 adjustments Underlying EBITDA 98.5 (21.7) 7.8 0.3 (13.5) 85.0 D&A2 (37.9) 16.6 -
Slide 34: Dividend methodology detail
DIVIDEND METHODOLOGY DETAIL GYG’s final dividend includes a “catch-up” amount relating to the lower interim dividend Full year dividend implies 48.0 cps ~90% payout of FY26 underlying NPAT from continuing operations Reflects “catch-up” on 1H26 earnings, removing 14.4 cps discontinued operations Spec
Slide 35: Quarterly sales performance
QUARTERLY SALES PERFORMANCE $ million, unless otherwise stated 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 Australia 214.8 223.8 217.5 238.5 260.2 278.1 267.6 288.8 305.5 326.6 320.4 338.3 Asia 13.3 13.1 14.0 13.7 16.1 18.7 18.7 20.4 20.8 20.7 21.5 24.1 Network sales 228.1 237.0 231.
Slide 36: Key operating and financial metrics
KEY OPERATING AND FINANCIAL METRICS $ million, unless otherwise stated FY23 1H24 2H24 FY24 1H25 2H25 FY25 1H26 2H26 FY26 Australia – Corporate 55 62 64 64 74 81 81 87 93 93 Restaurants Australia – Franchise 116 121 130 130 136 143 143 150 162 162 Singapore 16 17 17 17 20 21 21 22 24 24 Japan 4 5 5 5
Slide 37: Australian restaurant reconciliation
AUSTRALIAN RESTAURANT RECONCILIATION Number of restaurants 1H24 2H24 FY24 1H25 2H25 FY25 1H26 2H26 FY26 Opening balance Corporate 55 62 55 64 74 64 81 87 81 Franchise 116 121 116 130 136 130 143 150 143 New restaurants Corporate 7 4 11 5 8 13 5 8 13 Franchise 6 8 14 11 8 19 9 10 19 Closed restaurant
Slide 38: Cash conversion methodology
CASH CONVERSION METHODOLOGY Cash conversion from continuing operations $ million, unless otherwise stated FY26 FY25 Operating cash flows 98.2 70.2 Taxes paid 26.6 19.4 Lease payments (principal and interest) (22.5) (18.0) Pre-tax operating cash flows, including rent 102.3 71.7 IPO-related adjustment
Slide 39: Glossary
GLOSSARY Term Description AASB means the Australian Accounting Standards Board. Amortisation of reacquired refers to the amortisation of reacquired rights due to the buyback of franchise restaurants from franchisees. These are typically amortised rights over the remaining term of the lease. Australi
Slide 40: Glossary
GLOSSARY Term Description Implied franchise royalty rate is calculated as the total franchise royalty revenue divided by total franchise network sales. LTO means limited-time offer. represents the median AUV for franchise restaurants in Australia. Calculated based on individual restaurant performanc
Slide 41: Glossary
GLOSSARY Term Description refers to Board-approved restaurant sites expected to open over the next five years in Australia. Restaurant sites in the pipeline have Restaurant pipeline commercial terms agreed with landlords but may remain subject to development, planning and other approvals. Pipeline d
Slide 42: Important notice and disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation is given on behalf of Guzman y Gomez Limited (“GYG” or “the Company”) (ASX: GYG) (ACN 125 554 743). By accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this Important Notice and Disclaimer. Summar
Slide 43: FY26 Results Presentation
FY26 RESULTS PRESENTATION GUZMAN Y GOMEZ