AmRest Holdings SE · GPW:EAT
AmRest — Q4 2020 Earnings Presentation
20 slides from AmRest's earnings presentation, Feb 26, 2021
Slide 1: AmRest Investor Presentation 4Q20
AmRest | Investor Presentation 4Q20 26 February 2020
Slide 2: Speakers
Speakers 2 Mark Chandler Eduardo Zamarripa Peter Kaineder Chief Executive Officer Chief Financial Officer Chief Strategy Officer Aleksandra Tajak Dorota Surowiec Eduardo Martínez Global Controller IR Manager IR Manager AmRest 4Q 2020 results are available for download at: http://www.amrest.eu The re
Slide 3: 4Q20 highlights and current trading
4Q20 highlights and current trading 3 Sales € 397.5m 78.8% 92% 29 Sales SSS index* Stores operating Gross openings Growth versus €441.4m in 3Q20 and €529.0m 4Q19 in 4Q20 versus 86.6% in 3Q20 as of end of 4Q20 versus 98% end 3Q20 in 4Q20 vs. 127 4Q19 88 FY20 / 261 FY19 11.8% € 25.4m € 204.8m € 24.1m
Slide 4: 4Q20 financial highlights
4Q20 financial highlights 4 Highlights 4Q Executive Summary Reporting period Q4'20 Q4'19 Y/Y ▪ Revenue decline of 24.9% in the fourth quarter versus Restaurants 2 337 2 336 1 the same period in the previous year due to forced Operational* 92% 100% (8pp) closures of restaurants and lower same store s
Slide 5: FY20 financial highlights
FY20 financial highlights 5 Highlights YTD Executive Summary Reporting period FY20 FY19 Y/Y ▪ Revenue generated of 1,522.9m EUR, down 22.4% on a full year basis compared to the previous year. The Restaurants 2 337 2 336 1 decline was driven by lockdown measures due to the Operational* 92% 100% (8pp)
Slide 6: Segment breakdown | CEE
Segment breakdown | CEE 6 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Impact of second wave of lockdowns 839.3 22.0% across CEE markets visible on sales, with 685.5 21.4% 21.3% 18.5% 14.9% sales of 171.5m EUR and a year over year decline of 26.1% in the fourth quarter. 232.0
Slide 7: Segment breakdown | WE
Segment breakdown | WE 7 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Sales at 158.2m EUR, down 24.8% in the 796.6 4Q20 given the limitations to open stores 15.2% 15.9% 582.8 5.4% 6.6% and operate through all sales channels. Additional sales through delivery and take- away ch
Slide 8: Segment breakdown | Russia
Segment breakdown | Russia 8 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Sales at 38.3m EUR, a 31.2% yoy decline, 206.6 20.6% 20.8% 19.2% 19.3% 20.2% mainly driven by the forced closure of 152.5 15.7% 15.8% food-courts impacting the share of stores operational during the las
Slide 9: Segment breakdown | China
Segment breakdown | China 9 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Sales of 22.6m EUR in 4Q20, a 2.7% 89.6 31.9% 30.3% 30.4% 76.4 26.9% increase versus the previous year benefiting from the early easing of 25.2% 25.0% lockdown measures during FY20 given the low numbers
Slide 10: Appendix
Appendix Investor Presentation 4Q’20 26 February 2021 10
Slide 11: Restaurant portfolio
Restaurant portfolio 11 Period 2016-YTD Bacoa, Sushi Shop, Pokai, Lepieje, • New brands oi’ Poke, Virtual Brands Slovakia, Portugal, Armenia, Azerbaijan, Slovenia, Austria, • New markets Belgium, Italy, Swiss, Luxembourg, UK, UAE, Saudi Arabia • Net new added 1 433 Period 2011-2015 • New brands La T
Slide 12: AmRest footprint
AmRest footprint 12 Europe + ME Store count by country # Equity | # Franchise As of end of December 2020 Shadow Country Total Kitchen Poland 296 | - 154 | 1 44 | - 68 | - -|- -|- -|- -|- -|- 4|- 566 | 1 5 567 11 262 3 202 Czechia 109 | - 17 | - 25 | - 51 | - -|- -|- -|- -|- -|- -|- 202 | 0 15 9 2 13
Slide 13: Key figures
Key figures 13 m EUR Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 TTM [4] Revenue 504.8 529 411.9 272.1 441.4 397.5 1522.9 [1] Revenue growth 28.7% 19.4% (7.4%) (43.6%) (12.6%) (24.9%) (22.4%) EBITDA 100.6 128.0 42.6 22.0 90.2 46.9 201.7 margin 19.9% 24.2% 10.3% 8.1% 20.4% 11.8% 13.2% [2] Adj. EBITDA 102.9 9
Slide 14: Financial statement: Segment breakdown Q4
Financial statement 14 Segment breakdown Q4 4Q'20 4Q'19 4Q'20 4Q'19 Amount % of sales Amount % of sales Amount % of sales Amount Margin Revenue 397.5 - 529.0 - Adjusted EBITDA 48.0 12.1% 96.4 18.2% Poland 93.8 23.6% 127.0 24.0% Poland 10.1 10.7% 26.2 20.6% Czechia 36.8 9.3% 55.9 10.6% Czechia 7.1 19
Slide 15: Financial statement: Segment breakdown YTD
Financial statement 15 Segment breakdown YTD YTD'20 YTD'19 YTD'20 YTD'19 Amount % of sales Amount % of sales Amount % of sales Amount Margin Revenue 1 522.9 1 961.5 Adjusted EBITDA 205.5 13.5% 369.2 18.8% Poland 378.7 24.9% 464.8 23.7% Poland 65.3 17.2% 95.1 20.5% Czechia 157.8 10.4% 199.8 10.2% Cze
Slide 16: Financial statement: EBITDA bridge Q4/YTD'20
Financial statement 16 Ebitda bridge Q4/YTD’20 4Q'20 4Q'19 Amount % of sales Amount % of sales Profit/(loss) for the period (23.9) (6.0%) 38.6 7.3% + Income tax expense 17.1 4.3% (16.9) (3.2%) + Finance costs 12.6 3.2% 10.5 2.0% – Finance income 0.5 0.1% 33.4 6.3% + Depreciation and Amortization 60.
Slide 17: Financial statement: Cash flow YTD'20
Financial statement 17 Cash flow YTD’20 Operating and Investing FY'20 FY'19 Financing FY'20 FY'19 Profit/loss for the period (183.7) 66.9 Proceeds from share transfers (employees options) 0.1 0.9 Adjustments for: Repurchase of treasury shares - (0.9) Amortization/ Depreciation 253.4 249.3 Proceeds f
Slide 18: Financial statement: Balance sheet
Financial statement 18 Balance sheet Assets FY'20 FY'19 Diff Equity and liabilities FY'20 FY'19 Diff Property, plant and equipment 475.0 584.9 (109.9) Total Equity 264.7 476.7 (212.0) Right-of-use assets 709.6 852.7 (143.1) Goodwill 312.1 350.2 (38.1) Interest-bearing loans and borrowings 676.5 656.
Slide 19: Factsheet
Factsheet 19 Shareholder structure** Listing details Warsaw (since 2005) Listing venues: Madrid (since 2018) ISIN: ES010537500 Shares issued: 219.6m Analyst coverage WOOD&CO Raiffeisen Bank PKO BP JB Capital mBank Erste Pekao Bank BDM Santander Renta4 Ipopema *FCapital Dutch B. V. is the sole shareh
Slide 20: Disclaimer
DISCLAIMER 20 Disclaimer This Presentation regarding AMREST HOLDINGS, SE (“AmRest” or the “Company”) has been prepared for information purposes only and it is not regulated information or information which has been subject to prior registration or control by the Spanish Securities Market Commission.