Amrest Holdings Se · GPW:EAT
Amrest — Q3 2025 Earnings Presentation
31 slides from Amrest's earnings presentation, Nov 14, 2025
Slide 1: Investors Presentation Q3'25 results presentation
Investors Presentation Q3’25 results presentation
Slide 2: The world's most reputable and iconic global brands
…the world’s most reputable and iconic global brands. Quick service restaurants 8 2,110 22 brands restaurants countries 47% of the portfolio AmRest is a leading European listed Fast casual restaurants 5 restaurant operator, 677 17% of the 178 portfolio master franchiser 6 3 241 and operator of 2 26
Slide 3: Q3'25 Highlights
3 Q3’25 Highlights Sales hit a historic record of EUR 660.5 million for a third quarter. Revenues EUR 660.5m +0.2% growth vs. last year/ +3.5% without disposals* Leverage EBITDA 2.1x low end of internal target range EUR 111.2m 16.8% EBITDA margin EBIT New restaurants EUR 42.3m 6.4% EBIT margin +16 g
Slide 4: Committed to providing exceptional products and services to our clients
4 Committed to providing exceptional products and services to our clients Summer, sport & street food Michelin-starred Reinforcing coffee-first chef collaboration strategy
Slide 5: Committed to providing exceptional products and services to our clients
5 Committed to providing exceptional products and services to our clients Summer recipes Elevating bar Pizza cheeseburger Ninjas’ power hit burger shines bright experience cravings king
Slide 6: Strong sales support a steady growth in revenue per store
6 Strong sales support a steady growth in revenue per store Q3’25 revenues amounted to EUR 660.5m representing 3.5% growth compared to the same period in 2024 when excluding revenues generated by businesses deconsolidated during the year.* Steady growth in the number of own restaurants and sales per
Slide 7: Digital capabilities as driver of growth
7 Digital capabilities as driver of growth The Group's progress in digitization continues to support activity levels. Digital platforms are being leveraged to deliver personalized promotions and ensure convenience. Total AmRest & dine-in sales* evolution (EURm) Digital sales** 661 62% 57% 51% <20% 2
Slide 8: Restaurant portfolio
8 Restaurant portfolio 3,500 3,500 Underlying restaurant growth combined with strategic adjustments on non-performing business. 3,000 3,000 Total Nº 2,318 2,414 2,313 2,163 2,099 2,110 restaurants 2,500 2,500 2,099 2,110 1,961 2,036 Strategic adjustments / Non-performing 1,921 2,000 1,846 2,000busin
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 10: Q3'25 highlights and current trading
10 Q3’25 highlights and current trading Sales growth € 660.5m +3.5% 99.8 Sales Sales growth excl. SCM SSS Index € 659.5m in Q3´24 disposal* vs. Q3´24 vs. Q3´24 Profitability € 111.2m € 64.2m € 42.3m EBITDA EBITDA Non-IRFS16 EBIT 16.8% margin 9.7% margin 6.4% margin Current trading CAPEX 100.1 € 34.0
Slide 11: Q3'25 Revenue highlights
11 Q3’25 Revenue highlights Sales hit a historic record of EUR 660.5 million for a third quarter. Quarterly revenue evolution (EURm) Quarterly SSS vs LY 660.5 99.8% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2022 2023 2024 2025 2022 2023 2024 2025 Data
Slide 12: EBITDA and EBIT margin evolution
12 EBITDA and EBIT margin evolution EBITDA amounted to EUR 111.2 million in EBIT amounted to EUR 42.3 million in Q3 2025. Q3 2025. Gradual improvement across the year. EBITDA [EURm] & EBITDA Margin EBIT [EURm] & EBIT Margin 19.0% 9.1% 16.7% 16.8% 16.8% 6.4% 5.2% 5.4% 13.2% 60.3 2.1% 125.3 111.1 107.
Slide 13: Q3'25 P&L highlights
13 Q3’25 P&L highlights Reporting period Q3'25 Q3'24 Variation ❑ Net equity restaurant count increased by 59 Restaurants 2,110 2,185 (75) units during last 12 months. Equity restaurants 1,872 1,813 59 Franchise restaurants 238 372 (134) ❑ Number of franchise restaurants decreased, Revenue 660.5 659.
Slide 14: Q3'25 debt and cash evolution
14 Q3’25 debt and cash evolution ❑ Leverage ratio* at the low end of the internal target range defined. ❑ Efficient level of liquidity, in line with the Group´s needs. Net financial debt** evolution & cash position 700. 0 616.4 9.0 Liquidity and leverage 600. 0 7.0 503.1 500. 0 468.3 425.4 397.4 5.0
Slide 15: Q3'25 financial debt profile
15 Q3’25 financial debt profile Financial debt structure and maturity profile ❑ Stable and balanced funding profile Financial debt profile Financial debt maturity profile 68% 1% 16% 25% 75% 84% 14% 99% 13% 5% PLN EUR Short-Term Debt Bank Debt 2025 2026 2027 2028 Long-Term Debt Other Financial debt e
Slide 16: AmRest, a diversified multinational company
16 AmRest, a diversified multinational company Business is distributed between three different geographical segments for analysis purposes. Breakdown of Sales, EBITDA and unit count for Q3’25 by segment: Sales by segment EBITDA by segment Number of units by segment 3% 3% 4% 33% 26% 36% 64% 59% 71% C
Slide 17: Segment breakdown | CEE
17 Segment breakdown | CEE 4 1,255 10 brands restaurants countries Revenues EUR 421.4m +7.8% vs. Q3’24 Quick service restaurants 677 62% of the portfolio 241 26 EBITDA EUR 86.1m 2 170 Fast casual restaurants 1 10 73 -8.7% vs. Q3’24 15% of the 28 portfolio 20.4% margin 27 -3.7 p.p. vs. Q3’24 23% of t
Slide 18: Segment breakdown | CEE
18 Segment breakdown | CEE ➢ Revenues reached EUR 421.4 million, with stable high single digit YoY growth of 7.8%. ➢ EBITDA at EUR 86.1 million, representing margin of 20.4%. CEE sales [EURm] EBITDA [EURm] & EBITDA Margin Store count +7.8% 24.1% 20.1% 19.8% 20.4% 17.0% 421.4 390.9 389.6 399.5 94.2 3
Slide 19: Segment breakdown | WE
19 Segment breakdown | WE 5 770 11 brands restaurants countries Revenues Quick service restaurants EUR 219.2m 5 29% of -2.7% vs. Q3’24 178 portfolio 6 3 EBITDA Casual dining restaurants 29% of 194 11 EUR 32.1m portfolio -3.0% vs. Q3’24 2 14.7% margin Fast casual restaurants flat vs. Q3’24 22% of 351
Slide 20: Segment breakdown | WE
20 Segment breakdown | WE ➢ Revenues reached EUR 219.2 million, a decrease of -2.7% compared to Q3’24. ➢ EBITDA reached EUR 32.1 million, representing a margin of 14.7% WE sales [EURm] EBITDA [EURm] & EBITDA Margin Store count -2.7% 16.4% 15.3% 1 14.7% 14.1% 14.7% 230.7 225.3 219.6 219.2 209.5 37.8
Slide 21: Segment breakdown | China
21 Segment breakdown | China 1 85 1 brand restaurants country Revenues EUR 19.9m -10.3% vs. Q3’24 Casual dining restaurants 100% of EBITDA portfolio EUR 3.5m 85 -20.5% vs. Q3’24 17.4% margin -2.2 p.p. vs. Q3’24 +4 Q3’25 gross openings
Slide 22: Segment breakdown | China
22 Segment breakdown | China ➢ Revenues reached EUR 19.9 million, representing a 10.3% decrease compared to the same period in 2024. ➢ The EBITDA generated amount to EUR 3.5 million, representing a margin of 17.4%. China sales [EURm] EBITDA [EURm] & EBITDA Margin Store count -10.3% 23.4 22.8% 22.6 1
Slide 23: Appendix
de APPENDIX
Slide 24: AmRest footprint
24 AmRest footprint Store count by country 8 2,110 22 brands restaurants countries Total 5 677 178 Poland 393 - 134 15 44 - 91 - 662 15 6 3 241 Czechia 136 - 15 - 33 - 57 - 241 - 26 2 Hungary 106 - 22 3 - - 39 - 167 3 194 11 170 1 73 10 Romania 10 - 63 - 73 - 28 Spain 128 - 65 152 4 - - 2 197 154 2
Slide 25: Financial statement
25 Financial statement Balance Sheet Note 30 Septem ber 2025 31 Decem ber 2024 Equity Share capital 9 22.0 22.0 Reserves 9 165.7 170.8 Retained earnings 9 200.0 187.0 Translation reserve 9 (2.8) (7.2) Equity attributable to shareholders of the parent 384.9 372.6 Note 30 Septem ber 2025 31 Decem ber
Slide 26: Financial statement
26 Financial statement Segment breakdown 3 MONTHS ENDED 3 MONTHS ENDED 30 Septem ber 2025 30 Septem ber 2024 30 Septem ber 2025 30 Septem ber 2024 Amount % of sales Amount % of sales Amount % of sales Amount % of sales Revenue 660.5 100.0% 659.5 100.0% Adjusted EBITDA* 112.3 17.0% 126.8 19.2% Poland
Slide 27: Financial statement
27 Financial statement EBITDA bridge 3 MONTHS ENDED 30 Septem ber 2025 30 Septem ber 2024 Amount % of sales Amount % of sales Profit/(loss) for the period 15.8 2.4% 28.2 4.3% + Finance costs 21.2 3.2% 21.9 3.3% – Finance income (1.0) (0.2%) (1.4) (0.2%) +/– Income tax expense 6.2 0.9% 11.7 1.8% + De
Slide 28: Financial statement
28 Financial statement P&L 9 MONTHS ENDED Note 30 Septem ber 2025 30 Septem ber 2024 Restaurant sales 1,848.5 1,772.8 Franchise and other sales 74.0 118.1 Total revenue 4 1,922.5 1,890.9 Restaurant expenses: Food and merchandise 6 (507.6) (485.2) Payroll and other employee benefits 6 (475.9) (453.3)
Slide 29: Shareholder structure and listing details
29 Restaurant portfolio Shareholder structure* Other Shareholders, Listing details PTE Allianz Polska SA, 18.43% 4.34% Warsaw (since 2005) Listing venues: Madrid (since 2018) FYNVEUR S.C.A.**; 5.29% ISIN: ES010537500 FCapital Dutch S.L.***, 67.05% Shares issued: 219.6m Nationale-Nederlanden PTE SA,
Slide 30: Glossary
30 Glossary ▪ EBITDA – It is a close measure of profitability on operations and consist of profit from operations excluding amortization and depreciation costs as well as impairments. ▪ EBITDA margin –EBITDA divided by total revenue ▪ Adjusted EBITDA - EBITDA adjusted for non operative gain/loss as
Slide 31: Disclaimer
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. “Presentation