Spur Corporation Limited · JSE:SUR
Spur — H1 F2025 Earnings Presentation
102 slides from Spur's earnings presentation, Mar 5, 2025
Slide 1: Spur Corp Interim Results F2025 H1
F2025 H1 5 March 2025 Century City 1 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 2: Spur Foundation feeds 3217 kids at ECD centres
10 SPUR FOUNDATION 1024 CORPORATE FRANCHISED RESTAURANT FEEDS 3217 KIDS AND COMPANY TURNOVER F25H1 BRANDS R5.9bn AT ECD CENTRES RESTAURANT DAILY EMPLOYEES 6 VK BRANDS 31 500 FRANCHISED 276 FRANCHISED RESTAURANT PARTNERS EMPLOYEES 77% BLACK 2.7million DOPPIO SAUCE ACTIVE FAMILY COLLECTION MANUFACTURI
Slide 3: Agenda
Agenda 1 2 3 4 Trading Overview Financial & Segmental The Way Forward Q&A Review 3 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 4: The period at a glance
THE PERIOD AT A GLANCE Franchised restaurant sales R5.9bn 10.0% Headline Earnings per Headline Cash generated Revenue Profit before tax earnings per share earnings share from operations 13.8% 12.9% 11.5% 14.7%* 9.6%* 12.1% 6.7%* 11.8% R179m Interim dividend: 106 cents# *Excluding marketing funds # P
Slide 5: Customer, employee, franchisee and investor experience
Memorable Purpose experiences that delight Our customers are our family Craveable food thru Innovative and purposeful distinctive tastes Personalized CX brands that lead connections that A resilient community of bring joy TOMER EXPERIENCE next gen franchisees. CUS DING THE E Spread the good to more
Slide 6: Everyone has a place at the table
Everyone has a place at the table 6
Slide 7: THEIR place at the table
THEIR place at the table 7
Slide 8: Sidima Sisters
SIDIMA SISTERS • On 16 February Caring4Girls initiative 2023, Spur 1 year 117 456 packets Corporation launched a five-year 939 648 2 447 partnership with the single girls Imbumba Foundation pads through the Sidima Sisters. 6 provinces, with the mission to expand to all 9 • We intend to expose provin
Slide 9: Spur Foundation
SPUR FOUNDATION 3217 children fed every school day Close to one million meals annually R1 Kids Burger, R1 Hake & Chips, R1 Triple Treat/Ltd Editions, 9 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 10: Agenda
Agenda 1 2 3 4 Trading Overview Financial & Segmental The Way Forward Q&A Review 10 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 11: Restaurant count: countries
RESTAURANT COUNT: COUNTRIES India 3 International 107 Nigeria 12 Ghana 3 Kenya 7 DRC 2 Tanzania 2 Zambia 25 Zimbabwe 9 Botswana 6 Mauritius 16 Lesotho 1 Namibia 11 Australia 2 Eswatini 8 South Africa 619 TOTAL RESTAURANTS 726 11 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 12: Restaurant count: brand
RESTAURANT COUNT: BRAND South Brand International Total Total Restaurant Count by Brand Africa Spur 312 32 344 Speciality brands 11% Panarottis 92 45 137 John Dory’s 47 2 49 RocoMamas RocoMamas* 87 27 114 16% Speciality brands 81 1 82 Spur 47% The Hussar Grill 26 - 26 Casa Bella 7 - 7 John Dory's 7%
Slide 13: Restaurant count: network development
RESTAURANT COUNT: R8 NETWORK DEVELOPMENT Restaurant count Restaurant Restaurant count New Closed Revamps Relocations 31 December count 31 December 2023 H1 F2025 H1 F2025 H1 F2025 H1 F2025 2024 30 June 2024 Spur 312 307 305 6 1 26 4 Panarottis 92 88 82 6 2 6 - John Dory's 47 46 48 1 - 1 - RocoMamas 8
Slide 14: SA food sales
SA, FOOD SALES Constant Prices. Rebased Jan 2020 = 100. Shading = hard lockdown. Takeaway and fast-food outlets : Restaurants and coffee shops: Enterprises involved in the sale and provision of meals and drinks, ordered from a Enterprises involved in the sale and provision of meals and menu, prepare
Slide 15: F25H1 Group turnover monthly trend line
F25H1|Group Turnover Monthly Trend Line Group Dec 24 turnover exceeds previous year, following a high growth in December 22 vs, 23, Slower start to fiscal July 2024 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun F22 F23 F24 F25 Monthly Average System Wide Sales 15 SPUR CORP INTERIM RESULTS: F25 H1
Slide 16: Consumer insights
CONSUMER INSIGHTS REASONS FOR EATING FOOD AT CASUAL REASONS FOR EATING FOOD AT CASUAL DINING RESTAURANTS MORE DINING RESTAURANTS LESS Treating myself / the family 60 Saving money 48 Great tasting food 50 Financial / budgetary constraints 38 Enjoy eating out 49 Long wait times at restaurants 32 It’s
Slide 17: Restaurants: South Africa
RESTAURANTS: South Africa H1 F2025 H1 F2024 Turnover Turnover Turnover Brand No. of outlets No. of outlets R’000 R’000 % change Spur 3 434 994 312 3 340 033 305 2.8 Panarottis 535 423 92 469 602 82 14.0 John Dory’s 231 663 47 235 385 48 (1.6) RocoMamas 520 184 87 480 014 85 8.4 Speciality brands 646
Slide 18: Restaurants: International
RESTAURANTS: International H1 F2025 H1 F2024 Turnover No. of Turnover No. of % % Location R’000 outlets R’000 outlets change change* Australasia 16 665 2 24 001 2 (30.6) (28.5) India 3 329 3 5 000 3 (33.4) (29.7) Mauritius 125 924 16 111 081 14 13.4 22.9 Middle East 316 - 11 560 2 (97.3) (97.1) Rest
Slide 19: Group total turnover
GROUP TOTAL TURNOVER Restaurant Turnover Like-on-like Franchised restaurant turnover H1 F2025 vs H1 F2024 vs H1 F2025 vs % change H1 F2024 H1 F2023 H1 F2024 Spur 2.8 10.0 1.6 Panarottis 14.0 10.1 2.4 John Dory’s (1.6) (0.8) (6.4) RocoMamas 8.4 6.0 6.9 Speciality brandsꟸ 5.2 12.1 3.8 The Hussar Grill
Slide 20: Brand fast facts: SA
Brand Fast Facts: SA SA: Takeaways SA VK brands: 392 Regional Turnover Contribution Day Part Turnover 13% of total turnover participating restaurants 1 EC Breakfast 11% WC 6% Mr D 2 22% 26% Dinner Click 38% and 3 Collect 48% KZN 15% GT Lunch Uber 4 57% 51% 23% 5 E-Commerce 3% 6 20 SPUR CORP INTERIM
Slide 21: Group customer count: monthly
Group Customer Count: Monthly CC impacted in July 24 due to school holiday Lower foot count in October 2024 dates Jul Aug Sep Oct Nov Dec F22 F23 F24 F25 21 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 22: 2 700 000+ active loyalty club members
2 700 000+ ACTIVE LOYALTY CLUB MEMBERS Group Average: Voucher Redemption Rate: 75% Spur Family Club awarded Best Loyalty Program: Restaurant/QSR in 2024 (winner past 3 years) 22 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 23: Spur brand: refreshed restaurants
New refreshed Restaurants. Franchisee investment of >R102m Impressive menu innovation, media and marketing dominance Regular community events positively impacting community and adding value to under privileged children. Increased Franchisee contact via FAC’s, annual road trip & Franchise Experience
Slide 24: Consistency of product quality: ribs up 63%
Strategic drive for consistency of product quality in network: Ribs up 63% in F25H1 24 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 25: Mountain Valley Spur, Mossel Bay
Mountain Valley Spur, Mossel Bay 25 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 26: Misty Mountain Spur, Hilton Siding Shopping Centre
Misty Mountain Spur, Hilton Siding Shopping Centre 26 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 27: Pasadena Spur, Optenhorst Village, Paarl
Pasadena Spur, Optenhorst Village, Paarl (Relocation) 27 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 28: Eagle Rock Spur, Mall@55, Centurion
Eagle Rock Spur, Mall@55, Centurion (Relocation) 28 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 29: Comanche Spur, Mokopane
Comanche Spur, Mokopane 29 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 30: Kids Experience: keeping the lead
Kids Experience: Keeping the Lead Revamp acceleration of themed play areas (10) and continuous innovation 30 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 31: Desert Wolf Spur, Upington
Desert Wolf Spur, Upington 31 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 32: Oregon Spur, Secunda
Oregon Spur, Secunda 32 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 33: Montana Spur, Mooi River Mall, Potchefstroom
Montana Spur, Mooi River Mall, Potchefstroom 33 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 34: Active-Play Systems: 100+ restaurants
Active-Play Systems: 100+ restaurants 34 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 35: Lone Creek Spur Birthday Event
Lone Creek Spur Birthday Event (Mall of Africa) Spur is synonymous with birthdays, and we believe that everyone deserves to be celebrated. Every child should have the chance to experience a Spur birthday at least once in their lives, regardless of their circumstances 24 October 2024, official media
Slide 36: Desert Creek Spur, Swakopmund Namibia
Desert Creek Spur, Swakopmund Namibia (Relocation) Namibia: 11 Restaurants: 7 Spurs 36 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 37: Running Buffalo Spur, Greenfields, Harare, Zimbabwe
Running Buffalo Spur, Greenfields, Harare, Zimbabwe Zimbabwe: 9 restaurants: 4 Spurs $20m investment in Greenfields by Terrace Africa 37 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 38: Rebranding of Panarottis gains momentum
Rebranding of Panarottis gains momentum. R42m franchisee investment Brand Power score increase (Kantar Wave 6)and brand growing by 14% SWS Sharing and Togetherness positioning remains at the heart of Panarottis Take Away sales: 29% 38 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 39: SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
39 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 40: Expanding to smaller towns
Expanding to smaller towns Lephalale Mookgophong Thabazimbi Lydenburg Ermelo Vryburg Wild Coast Langebaan Makhanda Gqeberha Hermanus 40 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 41: Lydenburg
Lydenburg 41 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 42: Ermelo
Ermelo 42 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 43: Bergview
Bergview 43 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 44: SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
44 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 45: Kenilworth, Western Cape
Kenilworth, Western Cape 45 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 46: Zevenwacht, Western Cape
Zevenwacht, Western Cape 46 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 47: Flacq, Mauritius
Flacq, Mauritius Mauritius: 16 Restaurants : 14 Panarottis 47 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 48: Matsapha Lifestyle Centre, Eswatini
Matsapha Lifestyle Centre, Eswatini Eswatini: 8 Restaurants: 2 Panarottis 48 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 49: Mikocheni, Tanzania
Mikocheni, Tanzania Tanzania: Re-entry: 2 New Panarottis. Upanga & Mikocheni (Engen/Puma Energy) 49 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 50: John Dory's: F25H1 profit of R5.9m
F25H1 delivered a profit of R5.9m (despite temporary weather damage closures in Cradle stone and Secunda and two permanent closures Paarl and Potchefstroom) Impacted by small network reach: 47 restaurants in SA, 2 International (Eswatini/Zambia) Brand on special project status to ensure positive tra
Slide 51: Cavendish Square, Claremont
Cavendish Square, Claremont 51 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 52: Pavillion, KZN
Pavillion, KZN 52 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 53: Matsapha Lifestyle Centre, Eswatini
Matsapha Lifestyle Centre, Eswatini Eswatini: 8 Restaurants: 1 John Dory’s Fish & Sushi 53 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 54: RocoMamas: restaurants in SA and rest of Africa
87 Restaurants in SA and 27 Restaurants in the rest of Africa 10% of SA Turnover and 27% of International Turnover Takeaway sales 33.6% Innovators of the group (Menu & CX) 54 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 55: SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
55 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 56: SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
56 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 57: Rondebosch
Rondebosch 57 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 58: Shelly Beach, KZN
Shelly Beach, KZN 58 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 59: Greenfields Harare, Zimbabwe
Greenfields Harare, Zimbabwe Zimbabwe: 9 Restaurants: 5 RocoMamas 59 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 60: Kolwezi, DRC
Kolwezi, DRC DRC: 2 Restaurants: both RocoMamas 60 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 61: RocoGo Matsapha, Eswatini
RocoGo Matsapha, Eswatini Eswatini: 8 Restaurants: 2 RocoMamas 61 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 62: Doppio Collection gains traction
Doppio Collection gains traction with five new restaurants opening in prominent locations Primary brands Hussar Grill (28) and Doppio Zero (31) restaurants drive this portfolio The four smaller speciality brands benefit from the direction of the senior team as we define their ultimate growth path 62
Slide 63: Acquired by SC in 2014
63 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025 Acquired by SC in 2014
Slide 64: Hussar Grill and Doppio Zero share of speciality turnover
26 31 Hussar Doppio Grill Zero 32% Day Trade 71% 68% Night Trade 29% PERCENTAGE OF TURNOVER F25H1 NIGHT TRADE DOMINANCE DAY TRADE DOMINANCE Hussar Grill and Doppio Zero represent 77% of of speciality portfolio turnover 64 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 65: Dominant speciality brands: ranked average turnover
Dominant Speciality Brands: Ranked average turnover: F25H1 Company owned restaurants: 15* Company owned restaurants contribution to the speciality revenue portfolio is 84% Hussar Grill Doppio Zero 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 HG Company Owned Resta
Slide 66: Groenkloof, Pretoria
Groenkloof, Pretoria 66 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 67: Hazelwood, Pretoria
Hazelwood, Pretoria 67 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 68: Florida Road, KZN
Florida Road, KZN 68 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 69: Leaping Frog, Fourways
Leaping Frog, Fourways 69 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 70: Groenkloof, Pretoria
Groenkloof, Pretoria 70 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 71: Healthy Eating
Healthy Eating 71 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 72: Awards 2024
AWARDS 2024 Travellers Choice Awards Best of the Best 2024 Annual Dineplan Reviewers' Choice Hussar Franschhoek made top Award ~ Winner Winner 25 restaurants in the worlds 100 Exceptional Restaurants in South Africa Best Burgers Campaign of Family best date night restaurant Winner the Year Restauran
Slide 73: Agenda
Agenda 1 2 3 4 Trading Overview Financial & Segmental The Way Forward Q&A Review 73 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 74: Financial & Segmental Review
2 Financial & Segmental Review 74 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 75: Income statement
INCOME STATEMENT Unaudited Unaudited R’m H1 F2025 H1 F2024 % change Revenue 2 009.9 1 766.2 13.8 From franchised and company stores activities 547.5 422.3 29.6 From marketing and related activities 191.6 180.3 6.3 From outsourced distributor sales 1 270.8 1 163.6 9.2 Cost of sales (1 370.8) (1 232.6
Slide 76: Segmental overview
SEGMENTAL OVERVIEW % change in revenue % change in profit % of group revenue H1 F2025 vs H1 H1 F2025 vs H1 % margin H1 % margin H1 H1 F2025 F2024 F2024 F2025 F2024 Franchise 12.8 10.4 6.1 81.0 84.2 Spur 8.5 3.3 2.2 87.3 88.3 Panarottis 1.2 15.1 17.2 73.4 72.2 John Dory’s 0.5 1.3 (4.1) 57.0 60.3 Roco
Slide 77: Segment SA Franchise – Spur
SEGMENT SA Franchise – Spur R’m R’m SA franchise revenue % change 10.4* SA franchise profit before tax % change 6.1* Spur revenue % change 3.3* Spur profit before tax % change 2.2* SA Spur Revenue Total SA franchise revenue SA Spur profit before tax Total SA franchise profit before tax 300 250 250 2
Slide 78: Segment SA Franchise – ex Spur
SEGMENT SA Franchise – ex Spur R’m Revenue R’m Profit before tax Panarottis % change 15.1* John Dory's % change 1.3* Panarottis % change 17.2* John Dory's % change (4.1) RocoMamas % change 9.5* Speciality % change 96.8*ꟸ RocoMamas % change 10.4* Speciality % change 39.8*⁺ Panarottis revenue John Dor
Slide 79: Segment Retail Company Stores
SEGMENT Retail Company Stores R’m R’m Revenue % change 130.8*⁺^ Profit before tax % change 17.2*ꟸ Revenue Profit before tax 160 Profit before tax (excluding impairments, Modrockers and Doppio Collection) 140 141 10.0 129 8.7 120 7.7 6.1% 100 6.0 7.0 6.4^ 80 4.5 5.8 3.9 6.0 3.4 60 61 2.0 45 1.5 40 42
Slide 80: Segment SA Manufacturing and Distribution
SEGMENT SA Manufacturing and Distribution R’m R’m Revenue % change 9.9*ꟸ Profit before tax % change 19.4*⁺ 1 600 Net margin % Profit before tax 60 Revenue 57 1 400 1 342 50 1 200 1 221 47 45 4.2% 1 087 1 102 40 1 000 1 025 37 36 800 30 600 20 400 10 200 - - H1 2023 H2 2023 H1 2024 H2 2024 H1 2025 H1
Slide 81: Segment SA Marketing funds
SEGMENT SA Marketing funds R’000 H1 F2025 H1 F2024 % change Revenue⁺ 186 150 176 697 5.3 Profit/(loss) before tax 3 798 (2 278)ꟸ - Deferred income movement (82) (5 482) - ⁺ Current period revenue excluding Doppio Collection is R183.5m (H1 2024: R176.6m) and the percentage change from prior year is 3
Slide 82: Segment SA Other & Shared services
SEGMENT SA Other & Shared services OTHER* SHARED SERVICES H1 H1 % % R’000 R’000 H1 F25 H1 F24 change F2025 F2024 change Revenue 128 55 132.7% Revenue 37 799 37 328 1.3 Marketing fund admin fee 8 675 8 209 5.7 income Operating profit 2 590 745 247.7 Other net interest income 14 375 15 251 (5.7) Share
Slide 83: Segment SA Shared services comparable overheads
SEGMENT SA Shared services COMPARABLE OVERHEADS R’000 H1 F25 H1 F24 % change Shared overheads (100 645) (92 919) (8.3) Spur Foundation (before interest) 193 298 Legal costs (GPS Litigation) 4 064 3 181 Other IFRS 9 ECL movement 1 754 2 326 Strategic Site Pegasus Investment 1 980 - Doppio acquisition
Slide 84: Segment International
SEGMENT International R’m Store turnover % change 8.7* R’m Profit before tax % change 19.2* Revenue % change 23.0* 600 Store Turnover International revenue 50 Net margin % Profit before tax 14 558 500 514 524 13 476 12 12 464 43 400 40 10 10 28.6% 37 8 8 300 35 8 200 31 31 30 6 4 100 2 - 20 H1 2023
Slide 85: Balance sheet
BALANCE SHEET Unaudited Unaudited R'm H1 F2025 H1 F2024 Non-current assets Property, plant and equipment 108.7 103.8 Right-of-use assets 61.4 76.0 Intangible assets and goodwill 499.1 500.0 Other non-current assets1 6.1 7.3 675.3 687.1 Current Assets Inventories 148.1 192.2 Trade and other receivabl
Slide 86: Cash flow
CASH FLOW Unaudited Unaudited R'm H1 F2025 H1 F2024 Operating profit 230.7 174.9 Working capital changes (51.2) (74.7) Cash generated from operations 179.5 100.2 Trade and other payables 0.8 77.8 Trade and other receivables (40.0) (85.4) Inventories (12.0) (67.1) Total working capital changes (51.2)
Slide 87: Cash flow
CASH FLOW Unaudited Unaudited R'm H1 F2025 H1 F2024 Cash generated from operations 179.5 100.2 Net interest received 12.0 16.4 Tax paid (58.7) (54.9) Dividend paid (102.0) (95.9) Cash flow from operating activities 30.8 (34.2) Cash flow from investing activities* (9.0) (69.6) Cash flow from financin
Slide 88: Agenda
Agenda 1 2 3 4 Trading Overview Financial & Segmental The Way Forward Q&A Review 88 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 89: The Way Forward
3 The Way Forward 89 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 90: The Greater Good Journey continues. A future of value
The Greater Good Journey continues. Tech enabled A Future Restaurant of Value of the future Creation: New & Customer Value, Facing BetterDigitization Value and More Value Growth Lever #1. Growth Lever #3. Expansion of our Ensure quality and Keep the lead with Customer Loyalty Clubs Increase sales an
Slide 91: Agenda
Agenda 1 2 3 4 Trading Overview Financial & Segmental The Way Forward Q&A Review 91 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 92: YOU have a place at our table
YOU have a place at our table 92
Slide 93: Appendices
Appendices 93 SPUR CORP INTERIM RESULTS: F25 H1 FEBRUARY 2025
Slide 94: Segmental SA: Franchise – Spur
1. SEGMENTAL SA: FRANCHISE Spur R’m Store turnover % change 2.8* R’m Profit before tax % change 2.2* Revenue % change 3.3* Revenue Store turnover Profit before tax 4000 155 3500 3 435 150 3 340 149 3000 3 037 2 888 2 999 145 146 87.3% 2500 140 88.3% 2000 135 1500 130 132 128 1000 125 87.2% 125 85.6%
Slide 95: Segmental SA: Franchise – Panarottis
1. SEGMENTAL SA: FRANCHISE Panarottis R’m R’m Store turnover % change 14.0* % change 15.1* Profit before tax % change 17.2* Revenue Revenue Store turnover Profit before tax 600 20 535 18 18 500 470 448 16 427 16 73.4% 400 401 14 14 14 13 72.2% 300 12 68.5% 70.7% 68.2% 10 200 8 100 6 22 25 4 - 20 19
Slide 96: Segmental SA: Franchise – John Dory's
1. SEGMENTAL SA: FRANCHISE John Dory’s Period margin R’m Store turnover % change (1.6)* R’m % change 1.3* Profit before tax % change (4.1)* Revenue Revenue Store turnover Profit before tax 250 7 237 235 232 213 210 6 6 6 6 200 5 60.3% 57.9% 5 5 57.0% 150 4 58.2% 52.5% 100 3 50 2 - 10 10 10 10 10 1 H
Slide 97: Segmental SA: Franchise – RocoMamas
1. SEGMENTAL SA: FRANCHISE RocoMamas R’m Store turnover R’m % change 8.4* Revenue % change 9.5* Profit before tax % change 10.4* Revenue Store turnover 600 Profit before tax 25 500 520 480 20 20 453 453 400 412 18 17 16 77.1% 15 76.5% 300 70.2% 14 78.6% 10 69.5% 200 100 5 - 23 20 23 22 26 - H1 2023
Slide 98: Segmental SA: Franchise – Speciality brands
1. SEGMENTAL SA: FRANCHISE Speciality brands R’m Store turnover % change 86.0*& R’m Revenue % change 96.8*⁺ Profit before tax % change 39.8*ꟸ Revenue Store turnover 700 Profit before tax 646 20 600 598 18 500 17 16 16 400 C 14 67.7% 60.6% 347 12 12 300 V 10 251 261 8 8 9 85.3% 200 89.9% 6 86.5% 100
Slide 99: International: restaurant count
2. INTERNATIONAL: RESTAURANT COUNT Doppio Spur Panarottis John Dory’s RocoMamas* Total Zero Botswana 3 - - 1 2 6 Eswatini 3 2 1 - 2 8 Democratic Republic of Congo (DRC) - - - - 2 2 Ghana - - - - 3 3 Kenya 5 - - - 2 7 Africa (excluding SA Lesotho - 1 - - - 1 and Mauritius) Namibia 7 1 - - 3 11 Nigeri
Slide 100: Segmental International: overview
3. SEGMENTAL INTERNATIONAL: OVERVIEW REVENUE NET PROFIT / (LOSS) % R’000 % R’000 % of group margin margin revenue H1 H1 H1 H1 Chang Change H1 H1 H1 F2025 F2024 F2025 F2024 e F2025 F2025 F2024 Australasia - 250 305 (18.0) (40) (43) 7.0 (16.0) (14.1) Rest of Africa & M.East 1.9 37 696 31 367 20.2 16 7
Slide 101: South Africa shared services cost analysis
4. SOUTH AFRICA SHARED SERVICES Cost analysis R’m H1 F25 H1 F24 Information Technology 21.7 17.2 People, Leadership and Culture 7.0 7.6 Executives 18.7 18.8 Finance and facilities 9.7 9.5 Legal and company secretarial 2.8 3.0 Development and New Business 6.4 5.8 Long-term incentives 10.9 9.1 Spur Co
Slide 102: International shared services
5. INTERNATIONAL SHARED SERVICES R’000 H1 F25 H1 F24 % change Operating loss (4 290) (2 971) (44.4) Net interest income (288) (42) Financial instrument impairments (IFRS 9) & actual credit 349 (41) losses Foreign exchange loss 1 655 461 Comparable operating costs* (2 574) (2 593) 0.7 * Applying a co