Collins Foods Limited · ASX:CKF
Collins Foods — HY26 Earnings Presentation
35 slides from Collins Foods's earnings presentation, Dec 2, 2025
Slide 1: Results HY26
RESULTS HY26 Collins Foods Limited 28 April 2025 to 12 October 2025 2 December 2025 Authorised for release by the Board
Slide 2: Executive Summary
EXECUTIVE SUMMARY • Enhanced focus on operational excellence delivering results • Growth momentum sustained, record revenues HY26 • Earnings and margins up on prior year • Strong cash flow, net leverage ratio down; capacity to fund growth initiatives • Further investment in network and technology •
Slide 3: Progress on Immediate Growth Priorities
PROGRESS ON IMMEDIATE GROWTH PRIORITIES CORE MARKET GROWTH ACCELERATING SCALE OPERATIONAL EXCELLENCE Australia Germany Laser focus on SSS, margin, service • SSS1 growth in KFC through product • Execution on second growth pillar • Sales, productivity and efficiency innovation and in-store execution p
Slide 4: Revenue and Margins Up - Improved Execution
REVENUE AND MARGINS UP - IMPROVED EXECUTION NET DEBT REVENUE UNDERLYING EBITDA $138.9M $750.3M $113.9M $1.0m vs FY25: $137.9m 6.6% vs HY25: $703.5m 11.0% vs HY25: $102.7m NLR2 0.89 0.04 vs FY25 0.93 UNDERLYING NPAT $30.8M NET OPERATING CASH FLOW Return on equity (roe)3 29.5% vs HY25: $23.7m $69.1M 1
Slide 5: Sustainability Progress
SUSTAINABILITY PROGRESS REPORTING & COMPLIANCE • On track for mandatory climate reporting in line with AASB S2 • Regulatory landscape dynamic, evolving – Collins European entities no longer in scope for mandatory reporting • Completed climate risks assessment and • Emission reduction pilots in • Pil
Slide 6: Financial Performance
FINANCIAL PERFORMANCE COLLINS FOODS LIMITED | RESULTS HY26 6
Slide 7: Strong Result with Record Revenues
STRONG RESULT WITH RECORD REVENUES MARGINS UP DESPITE CHALLENGING MACRO ENVIRONMENT HY26* HY25 Change Underlying Underlying Revenue 750.3 703.5 6.6% # • Revenue: a record $750.3m, up 6.6%, growth in Australia and Europe EBITDA 113.9 102.7 11.0% # • Underlying EBITDA $113.9m up 11.0%, at margin of 15
Slide 8: Income Statement: Reconciliation Between Underlying and Statutory Results
INCOME STATEMENT: RECONCILIATION BETWEEN UNDERLYING AND STATUTORY RESULTS Non- HY26 HY26 HY25 Trading Change Statutory Underlying Underlying ($m) Items Revenue 750.3 – 750.3 703.5 6.6% # RECONCILING ITEMS BETWEEN STATUTORY AND UNDERLYING RESULTS EBITDA 113.1 0.8 113.9 102.7 11.0% # • $(0.4)m NPAT -
Slide 9: Strong Cash Flows Enabling Disciplined Investment
STRONG CASH FLOWS ENABLING DISCIPLINED INVESTMENT HY26 HY25 ($m) Net operating cash flows before interest and tax 109.4 105.5 • Net operating cash flow before tax, interest up 3.6% to $109.4m Net interest paid (4.4) (3.7) – after tax and interest down $6.2m to $69.1m, higher cash tax Interest paid o
Slide 10: Strong Balance Sheet with Capacity to Fund Future Growth Opportunities
STRONG BALANCE SHEET WITH CAPACITY TO FUND FUTURE GROWTH OPPORTUNITIES 12 October 2025 27 April 2025 ($m) Cash and equivalents 101.6 119.1 • Net debt up slightly vs. end FY25 to $138.9m, strong cash generation Other current assets 30.3 27.1 and disciplined investment Total current assets 131.9 146.3
Slide 11: KFC Australia
COLLINS FOODS LIMITED | RESULTS HY26 KFC AUSTRALIA 11
Slide 12: SSS Growth, Productivity Driving Margins Up
SSS GROWTH, PRODUCTIVITY DRIVING MARGINS UP HY26* HY25 Change Underlying Underlying Restaurants at HY end (no.) 290 285 5 # • Revenue up 5.0% to $563.8m Revenue ($m) 563.8 536.8 5.0% # – SSS1 growth +2.3% % SSS1 2.3% (0.1)% • Restaurant EBITDA up 8.7% to $121.8m, positive SSS, lower commodity prices
Slide 13: Leadership in Brand Health Positions KFC for Continued Growth
LEADERSHIP IN BRAND HEALTH POSITIONS KFC FOR CONTINUED GROWTH FLG TASTE BRAND HEALTH STRONG KWENCH BY KFC • Innovation on core favourites including Habanero, • KFC brand leadership trend; • Global beverage range, “KWENCH by KFC” Zinger Kebab and Sweet Tokyo driving new highest Brand Index amongst QS
Slide 14: KFC Leads QSR Brand Index Amongst Key Competitors
KFC leads qsr brand index AMONGST KEY COMPETITORS brand buzz increasing, driven by innovation Brand Index Brand Buzz KFC MCD HJ DOM GYG REDS Oct QTR 2024 Jan QTR 2025 April QTR 2025 July QTR 2025 Oct QTR 2025 Data Source - YouGov October 2024 to October 2025. KFC MCD Others (Av.) Brand Index - YouGo
Slide 15: Operational Excellence & Network Investment Elevating Customer Experience
OPERATIONAL EXCELLENCE & NETWORK INVESTMENT ELEVATING CUSTOMER EXPERIENCE, SALES & MARGINS NEW RESTAURANTS, ELEVATING RESTAURANT MODERNISING THE REMODELS, SUPERCHARGE DESIGN TO BOOST PERFORMANCE CUSTOMER EXPERIENCE • Targeting 7-10 new restaurants annually with 50+ • Efficient restaurant design and
Slide 16: KFC Europe
COLLINS FOODS LIMITED | RESULTS HY26 KFC EUROPE 16
Slide 17: Improvement Despite Challenging Economic Conditions
IMPROVEMENT DESPITE CHALLENGING ECONOMIC CONDITIONS HY26* HY25 Change Underlying Underlying Restaurants at HY end (no.) 79 74 5 # • Profit improvement in Netherlands, growth in Germany enabling Revenue ($m) 162.9 142.1 14.6% # stronger result % SSS1 1.4% (3.8)% • Revenue up 14.6% to $162.9m (5.3% co
Slide 18: Operational Performance & In-Store Execution Improving
OPERATIONAL PERFORMANCE & IN-STORE EXECUTION IMPROVING CUSTOMER EXPERIENCE SALES MARGINS • Investment in training & capability improving • Step-up in marketing and menu innovation • Focus on sales forecasting, unlocking efficiency customer experience in the Netherlands supporting market share in the
Slide 19: The Netherlands
COLLINS FOODS LIMITED | RESULTS HY26 THE NETHERLANDS 19
Slide 20: Early Improvement in Profitability
EARLY IMPROVEMENT IN PROFITABILITY HIGHLIGHTS • Continued investment in team capability and focus on restaurant management training curriculum • Lifting operational execution to benefit SSS, customer experience, labour productivity and waste • Elevating KFC brand, quality and value perceptions to su
Slide 21: Brand Fundamentals Supporting Performance Improvement
BRAND FUNDAMENTALS SUPPORTING PERFORMANCE IMPROVEMENT 72% BRAND AWARENESS PRODUCT INNOVATION 67% DIGITAL CHANNEL MIX3 • Awareness up 1.8%, with strongest growth of QSR • KFC collaboration with Netflix’s Squid Game • Strong digital channel growth3, +6.5 percentage peers, now 72%1 leveraged pop cultur
Slide 22: Germany
COLLINS FOODS LIMITED | RESULTS HY26 GERMANY 22
Slide 23: Execution on Key Strategic Opportunity Progressing
EXECUTION ON KEY STRATEGIC OPPORTUNITY PROGRESSING LARGE ADDRESSABLE MARKET • 80 million+ consumers, only 215 KFC restaurants (vs c.1,400 McDonalds & c.750 Burger King)1 • 2025 QSR growth outpacing GDP growth in Germany2 • KFC brand, and chicken category, under-penetrated in QSR ACTION ON SECOND GRO
Slide 24: Taco Bell
COLLINS FOODS LIMITED | RESULTS HY26 TACO BELL 24
Slide 25: Performance Stable in Challenging Environment
PERFORMANCE STABLE IN CHALLENGING ENVIRONMENT HY26* HY25 Change Underlying Underlying Restaurants at HY end (no.) 27 27 – • Revenue down 3.9% to $23.6m Revenue ($m) 23.6 24.6 (3.9)% $ • Profitability holding; margins slightly up as a result of cost control % SSS1 (4.1)% (0.3)% • Digital at 33.20% of
Slide 26: Trading Update & Outlook
TRADING UPDATE & OUTLOOK COLLINS FOODS LIMITED | RESULTS HY26 26
Slide 27: Sales Positive H2 to Date - Trading Outlook Upgraded
SALES POSITIVE H2 TO DATE - TRADING OUTLOOK UPGRADED • KFC Australia SSS1 trending well first seven weeks • Netherlands sales up 5.6% (constant currency2) • Germany sales 7.8% (constant currency2) H2, delivery channel growth after fee reset despite QSR remaining under pressure including – total sale
Slide 28: Questions
QUESTIONS COLLINS FOODS LIMITED | RESULTS HY26 28
Slide 29: Appendix
COLLINS FOODS LIMITED | RESULTS HY26 APPENDIX 29
Slide 30: Group Results Summary
GROUP RESULTS SUMMARY POST AASB 16 PRE AASB 16 HY26 HY26 HY26 HY26 HY25 Change HY26 HY26 HY25 Change Non-Trading Non-Trading Statutory Underlying Underlying Statutory Underlying Underlying Items Items ($m) Revenue 750.3 – 750.3 703.5 6.6% # 750.3 – 750.3 703.5 6.6% # EBITDA 113.1 0.8 113.9 102.7 11.
Slide 31: KFC Australia Results Summary
KFC AUSTRALIA RESULTS SUMMARY POST AASB 16 PRE AASB 16 HY26 HY26 HY26 HY26 HY25 Change HY26 HY26 HY25 Change non-trading non-trading Statutory Underlying Underlying Statutory Underlying Underlying items items Restaurants at HY end (no.) 290 290 285 5 # 290 290 285 5 # Revenue ($m) 563.8 – 563.8 536.
Slide 32: KFC Europe Results Summary
KFC EUROPE RESULTS SUMMARY POST AASB 16 PRE AASB 16 HY26 HY26 HY26 HY26 HY25 Change HY26 HY26 HY25 Change non-trading non-trading Statutory Underlying Underlying Statutory Underlying Underlying items items Restaurants at HY end (no.) 79 79 74 5 # 79 79 74 5 # Revenue ($m) 162.9 – 162.9 142.1 14.6% #
Slide 33: Taco Bell Results Summary
TACO BELL RESULTS SUMMARY POST AASB 16 PRE AASB 16 HY26 HY26 HY26 HY26 HY25 Change HY26 HY26 HY25 Change non-trading non-trading Statutory Underlying Underlying Statutory Underlying Underlying items items Restaurants at HY end (no.) 27 27 27 – 27 27 27 – Revenue ($m) 23.6 – 23.6 24.6 (3.9)% $ 23.6 –
Slide 34: HY26 Non-Trading Items Summary
HY26 NON-TRADING ITEMS SUMMARY POST AASB 16 PRE AASB 16 EBITDA EBIT NPAT EBITDA EBIT NPAT ($m) Taco Bell restaurant closure costs (0.6) (0.6) (0.4) (0.5) (0.5) (0.3) Taco Bell impairment - previously impaired restaurants – 0.1 0.1 – 0.1 0.1 KFC Europe impairment - previously impaired restaurants – 3
Slide 35: For Further Information Please Contact
FOR FURTHER INFORMATION PLEASE CONTACT ACN 151 420 781 Level 3, KSD1, 485 Kingsford Smith Drive HAMILTON QLD 4007 AUSTRALIA www.collinsfoods.com INVESTORS Andreas Lundberg Steve Loxton Fortitude IR Fortitude IR +61 457 650 482 +61 412 595 133 andreas.lundberg@fortitudeir.com.au steve.loxton@fortitud