Retail Food Group Limited · ASX:RFG
Retail Food — FY2025 Earnings Presentation
34 slides from Retail Food's earnings presentation, Aug 20, 2025
Slide 1: FY25 Results Presentation
Retail Food Group Limited Level 4, 35 Robina Town Centre Drive Robina Qld 4226 20 August 2025 FY25 Results Presentation Please find enclosed for release to the market Retail Food Group Limited’s FY25 Results Presentation. This announcement has been authorised for release by the Board of Directors. I
Slide 2: Year End Financial Results
YEAR END FINANCIAL RESULTS
Slide 3: Financial Results Agenda
FY25 FINANCIAL RESULTS| AUGUST 2025 Financial Results Agenda 1. Business update Matt Marshall 2. Financial performance Chief Executive Officer 3. Q&A Results Webinar Wednesday 20 August 10:00am AEST Webinar: https://investorhub.rfg.com.au/webinars/Leo4Mr-fy25- Rob Shore year-end-results-presentation
Slide 4: We've Progressed Our 'Enhance' Strategy
FY25 FINANCIAL RESULTS| AUGUST 2025 We’ve Progressed Our ‘Enhance’ Strategy 1 Solid financial growth in a challenging market delivered with consecutive year on year improvement in network sales, revenue and underlying EBITDA. Crust returned to growth in Q4 (+5.5% network sales). 2 Advanced customer
Slide 5: We've Progressed Our 'Grow' Strategy
FY25 FINANCIAL RESULTS| AUGUST 2025 We’ve Progressed Our ‘Grow’ Strategy 1 Beefy’s expansion continues with ongoing growth in network sales (+16.6%), same store sales (+5.1%) and new store openings (+5 since acquisition). 50 outlet goal by 2028. 2 20-year partnership with RBI2 to launch Firehouse Su
Slide 6: We're Managing Our Legacy Portfolio
FY25 FINANCIAL RESULTS| AUGUST 2025 We’re Managing Our Legacy Portfolio 1 Our Company Stores will focus on Beefy’s Pies and Firehouse Subs as we look to deliver rapid growth in these brands. Outlets we operate in other brands will transition to Franchise Partner ownership or close. 2 Brumby’s Bakery
Slide 7: Continuing To Deliver Growth In FY25
FY25 FINANCIAL RESULTS| AUGUST 2025 Continuing To Deliver Growth In FY25 $505.4m $102.7m DOMESTIC NETWORK SALES UP 0.3% ON PCP UNDERLYING REVENUE UP 13.6% ON PCP DRIVEN BY CCB GROWTH BRANDS UP 4.8% $455.7m $29.6m SAME STORE SALES DOWN 0.2%4 UNDERLYING EBITDA UP 1.7% ON PCP DUE TO QSR SSS DECLINE IN
Slide 8: Key Takeaways
FY25 FINANCIAL RESULTS| AUGUST 2025 Key Takeaways Momentum Network Health Delivering on building into FY26 Improved New Strategy • Momentum gaining pace as retail • Crust results improved in Q4 with SSS • Signed key new growth driver – Firehouse conditions improved in Q4 and into FY26. growth of +3.
Slide 9: About Retail Food Group
FY25 FINANCIAL RESULTS| AUGUST 2025 About Retail Food Group Retail Food Group is a global food and beverage company headquartered in Queensland, Australia. RFG is Australia’s largest multi-brand retail food and beverage franchise owner with a portfolio of quality franchise brands under its ownership
Slide 10: Our Global Gloria Jean's Network Enables New Opportunities
FY25 FINANCIAL RESULTS| AUGUST 2025 Our Global Gloria Jean’s Network Enables New Opportunities 634 30 207 3 14 1 138 1 TRADING COUNTRIES TRADING COUNTRIES TRADING COUNTRY TRADING COUNTRY OUTLETS OUTLETS OUTLETS OUTLETS 9
Slide 11: Our Strategy
FY25 FINANCIAL RESULTS| AUGUST 2025 Our Strategy By putting the customer at the heart of our strategy, we have a clear framework for success ENHANCE Scale brands to Brand health Healthy network >200+ outlets and innovation Enhanced store Leveraging digital refurbishments at scale GROW Beefy's Pies F
Slide 12: Enhance: Brand Health And Innovation
FY25 FINANCIAL RESULTS| AUGUST 2025 Enhance: Brand Health And Innovation Customer insights driving brand health, performance, and rolling product innovation pipeline • Crust tops QSR customer satisfaction • Unlocking lunch - new and improved Hot • New gourmet sausage roll range launched scores1 Dogs
Slide 13: Enhance: Gloria Jean's, A Bold New Direction
FY25 FINANCIAL RESULTS| AUGUST 2025 Enhance: Gloria Jean’s, A Bold New Direction Strategic brand evolution aimed at re-imagining the customer experience A Bold New Direction Dynamic Content for Digital Screens This is not just a new look it’s a complete reset. Touching every aspect of the New digita
Slide 14: Enhance: Healthy Network
FY25 FINANCIAL RESULTS| AUGUST 2025 Enhance: Healthy Network Strengthening our network by focusing on the drivers of end-to-end store economics 1. Better Buying for our Network <2.5% Leveraging our scale to deliver improved outcomes across; AVERAGE ANNUAL RENTAL • Supplier engagement (cost of goods)
Slide 15: Enhance: Leveraging Digital At Scale
FY25 FINANCIAL RESULTS| AUGUST 2025 Enhance: Leveraging Digital At Scale Acquiring new customers by accessing new digital occasions at scale Our Unique Opportunity <2.5% Our extensive national footprint enables us to serve customers wherever they are by unlocking new channels for growth and strength
Slide 16: Grow: Firehouse Subs
FY25 FINANCIAL RESULTS| AUGUST 2025 Grow: Firehouse Subs Signed a 20-year agreement1 for FHS in Australia, with 165 stores within 10 years 01 RECRUITMENT OF TRACY STEINWAND – GM FIREHOUSE SUBS AUSTRALIA Extensive experience in food & beverage franchising including at Subway Australia & New Zealand.
Slide 17: Grow: Beefy's Pies
FY25 FINANCIAL RESULTS| AUGUST 2025 Grow: Beefy’s Pies 5 new stores delivered since acquisition, ambition for 50 stores by 2028, franchising to commence in FY26 Pipeline of FY26 sites: $30.7k +16.6% • Morayfield, Brisbane NETWORK SALES GROWTH1 (Q1 FY26) FY25 AVERAGE WEEKLY SALES • Oxenford, Gold Coa
Slide 18: Grow: International
FY25 FINANCIAL RESULTS| AUGUST 2025 Grow: International Significant international growth opportunity for Gloria Jean’s and Donut King • Established a new supply chain and support hub closer to our Master Franchise Partners in Istanbul to unlock a revenue growth opportunity through improved service a
Slide 19: Company Store Strategy
FY25 FINANCIAL RESULTS| AUGUST 2025 Company Store Strategy Corporately owned & operated outlets in established brands will transition to Franchise Partner ownership or be permanently closed as the Group focuses capital on Beefy’s Pies and Firehouse Subs Revised Corporate Store Strategy Completed Pre
Slide 20: Brumby's Bakery
FY25 FINANCIAL RESULTS| AUGUST 2025 Brumby’s Bakery Brumby’s Bakery has been assessed against our strategic priorities given the resource requirements for growth in our other brands, and a decision made to explore options for divestment • Brumby’s Bakery was acquired by RFG in 2007 Our Strategic Pil
Slide 21: FY25 Underlying Financial Results
FY25 FINANCIAL RESULTS| AUGUST 2025 FY25 Underlying Financial Results $102.7m 20.3% Financial results continue to improve • Revenue yield is impacted by the mix of Franchise Service Fees, sales of UNDERLYING REVENUE REVENUE YIELD manufactured products, and revenue from corporately operated outlets U
Slide 22: Café, Coffee, Bakery (CCB) Performed Strongly
FY25 FINANCIAL RESULTS| AUGUST 2025 Café, Coffee, Bakery (CCB) Performed Strongly • All core CCB brands were flat or in SSS growth in FY25 $366.9m $324.9m • CCB contributes c. 72.6% of Group network sales with higher revenue conversion due to vertical integration of coffee & pies DOMESTIC NETWORK SA
Slide 23: Quick Service Restaurants (QSR) Achieve Q4 Growth
FY25 FINANCIAL RESULTS| AUGUST 2025 Quick Service Restaurants (‘QSR’) Achieve Q4 Growth • Softer conditions in QSR prevailed during Q1 – Q3 before rapid improvement in Q4 with Crust network sales growth of +5.5% as menu innovation resonated with customers and market $138.5m $130.8m • conditions impr
Slide 24: Income Statement
FY25 FINANCIAL RESULTS| AUGUST 2025 Income Statement UNDERLYING CONSOLIDATED INCOME STATEMENT Change $millions FY24 FY25 FY24 vs FY25 • Underlying Revenue increased 13.6% on PCP with the full year contribution and NETWORK SALES 503.9 505.4 0.3% growth from Beefy’s Pies. Statutory revenue up 8.5% on
Slide 25: Reported vs Underlying Results
FY25 FINANCIAL RESULTS| AUGUST 2025 Reported vs Underlying Results Company • Refer to detailed reconciliations for FY25 & the PCP on slides 29 & 30 Statutory to Underlying EBITDA Reconciliation Stores Lease & Other • Underlying Revenue excludes restricted domestic marketing fund Provisions $10.4m re
Slide 26: Financial Position
FY25 FINANCIAL RESULTS| AUGUST 2025 CONSOLIDATED BALANCE SHEET Financial Position $millions FY24 FY25 CURRENT ASSETS Cash and cash equivalents 20.6 26.0 Trade receivables 11.0 11.0 • Cash reserves of $26.0m (FY24: $20.6m) includes $2.5m of restricted cash relating to Inventories 3.9 4.3 marketing fu
Slide 27: Cash Flow
FY25 FINANCIAL RESULTS| AUGUST 2025 Cash Flow $millions FY24 FY25 $22.0m 74.3% UNDERLYING CASHFLOW FROM OPERATING ACTIVITIES 22.5 22.0 Operating cashflows not included in underlying (4.7) (3.5) UNDERLYING OPERATING CASH UNDERLYING EBITDA TO CASHFLOW FROM OPERATING ACTIVITIES 17.8 18.4 INFLOWS, DOWN
Slide 28: Outlook
FY25 FINANCIAL RESULTS| AUGUST 2025 Outlook Network sales. Annualisation of new outlets offsets closures in Firehouse Subs is expected to open the first outlet in mid FY26 1 FY26, weeks 1 – 7, excluding Brumby’s, network sales +$0.3m 5 with our long term goal to exceed 165 outlets on FY25. Core bran
Slide 29: Capital Allocation Priorities
FY25 FINANCIAL RESULTS| AUGUST 2025 Capital Allocation Priorities Maintain a strong balance sheet to provide liquidity buffers We are focused on investing for growth whilst maintaining a strong 1 and manage risks in an uncertain environment balance sheet. As financial results continue to improve and
Slide 30: Q&A
FY25 FINANCIAL RESULTS| AUGUST 2025 Q&A 28
Slide 31: Analyst Data
FY25 FINANCIAL RESULTS| AUGUST 2025 Analyst Data Statutory to Underlying Adjustments FY25 Company FY25 H1FY25 H2FY25 $ millions Statutory Underlying Underlying Underlying Marketing M&A and Impairment of Company Store Funds Other Brumby’s Store Trading Provision NETWORK SALES 505.4 505.4 257.1 248.3
Slide 32: Analyst Data
FY25 FINANCIAL RESULTS| AUGUST 2025 Analyst Data Statutory to Underlying Adjustments FY24 Company FY24 H1FY24 H2FY24 $ millions Statutory Marketing M&A and Store Underlying Underlying Underlying Funds Other USA1 Trading2 NETWORK SALES 503.9 503.9 254.8 249.1 REVENUE 132.0 (14.5) - (2.6) (24.5) 90.4
Slide 33: Glossary
FY25 FINANCIAL RESULTS| AUGUST 2025 Glossary 3PA Third party aggregator MSO Multi-site Operator Four Wall In relation to company stores, EBITDA excluding overhead costs of the NPAT Net Profit After Tax EBITDA corporate management time, inclusive of marketing levies payable to marketing funds PCP Pri
Slide 34: Disclaimer
FY25 FINANCIAL RESULTS| AUGUST 2025 Disclaimer This Presentation contains summary information about the current activities of Retail Food Group Limited ACN 106 840 082 and its subsidiaries (RFG, the Company or Group) as at the date of this Presentation, unless otherwise stated. The information in th