Collins Foods Limited · ASX:CKF

Collins Foods — FY2025 Earnings Presentation

47 slides from Collins Foods's earnings presentation, Jun 24, 2025

  1. Slide 1: Results 2025

    RESULTS 2025 29 April 2024 to 27 April 2025 GL COLLINS FOODS LIMITED 24 June 2025 | Authorised for release by the Board

  2. Slide 2: Executive Summary

    EXECUTIVE SUMMARY • Effective execution of strategy in challenging environment • Continued targeted investment • Stronger H2 underlying performance, up vs H2 FY24 • Positioned to take advantage of improving conditions • Remaining active and open to organic and inorganic growth opportunities COLLINS

  3. Slide 3: Immediate Growth Priorities

    IMMEDIATE GROWTH PRIORITIES CORE MARKET GROWTH ACCELERATING SCALE OPERATIONAL Australia GermanY EXCELLENCE Laser focus on SSS, margin, service (1) • SSS growth in KFC through • Accelerated growth in • Sales performance, product and service Germany productivity and efficiency innovation • Profitable

  4. Slide 4: Resilient Revenues & Solid Underlying Earnings

    RESILIENT REVENUES & SOLID UNDERLYING EARNINGS NET DEBT REVENUE (1) Underlying EBITDA (1) $1,519.5M $228.5M $137.9M $27.6m vs FY24: $165.5m 2.1% vs FY24: $1,488.9m 0.6% vs FY24: $229.8m NLR(3) 0.93 0.14 vs FY24 1.07 UNDERLYING NPAT (1) $51.1M NET OPERATING CASH FLOW $181.4M 14.8% vs FY24: $60.0m $5.

  5. Slide 5: Current KFC Restaurant Network

    CURRENT KFC RESTAURANT NETWORK 16 288 KFC restauranTs KFC restauranTs 500+ 27 team members taco bell restaurants Düsseldorf RSC 18,000+ 62 KFC restauranTs team members and master franchise Brisbane RSC Amsterdam 2,000+ RSC team members RSC - Restaurant Support Centre COLLINS FOODS LIMITED | RESULTS

  6. Slide 6: Operational Highlights

    OPERATIONAL HIGHLIGHTS $$ Digital Investment Modern & Elevated KFC FLG Brand Brand Experience (Australia) 53 14 Remodels New Restaurant Impactful Menu (including 8 supercharged) Openings Innovation COLLINS FOODS LIMITED | RESULTS 2025 5

  7. Slide 7: Brand, Operations & Improving Consumer Sentiment Lifting Sales, Market Share

    BRAND, OPERATIONS & IMPROVING CONSUMER SENTIMENT LIFTING SALES, MARKET SHARE AUSTRALIA EUROPE AUSTRALIA (1) (1) • FY25 total sales up 3.0%; SSS growth +0.3% • FY25 total sales slightly lower 0.4%; SSS (2.7)% • FY25 sales down (2.5)% with Netherlands (2.5)% and Germany (3.3)% – H2 SSS improved to +0.

  8. Slide 8: Sustainability: Beyond Compliance in a Changing Regulatory Landscape

    SUSTAINABILITY: BEYOND COMPLIANCE IN A CHANGING REGULATORY LANDSCAPE FY25 SUSTAINABILITY HIGHLIGHTS FY25 FOCUS Preparing for upcoming mandatory reporting requirements (ASRS & CSRD) Reporting & compliance progress: ↓ 21% reduction in our Employed 21,688 Almost $1m raised for relative per-restaurant p

  9. Slide 9: Financial Performance

    FINANCIAL PERFORMANCE COLLINS FOODS LIMITED | RESULTS 2025 8

  10. Slide 10: Resilient Revenues, Solid Underlying Earnings

    RESILIENT REVENUES, SOLID UNDERLYING EARNINGS ECONOMIC CONDITIONS CHALLENGING, BUT IMPROVING (3) FY25 FY24 Change Underlying Underlying ($m) (1) Revenue continuing operations 1,519.5 1,488.9 2.1% # • Revenue a record $1,519.5m, up 2.1% with growth in Australia partially EBITDA continuing operations

  11. Slide 11: H2 Performance & Profitability Above PCP

    H2 PERFORMANCE & PROFITABILITY ABOVE PCP; OPERATIONAL IMPROVEMENT EMERGING H2 FY25 H2 FY24 Change Underlying Underlying • H2 underlying performance stronger than same period last year ($m) – absolute performance higher on revenues, EBITDA and EBIT Revenue ($m) 816.0 793.7 2.8% # – % EBITDA margins u

  12. Slide 12: Income Statement

    INCOME STATEMENT FY25 Non- FY25 FY24 Change Statutory Trading Underlying Underlying ($m) Items Revenue 1,519.5 – 1,519.5 1,488.9 2.1% # RECONCILING ITEMS BETWEEN STATUTORY AND UNDERLYING RESULTS EBITDA 226.4 2.1 228.5 229.8 (0.6)% $ • $(0.4)m NPAT - release of Taco Bell lease liability upon settleme

  13. Slide 13: Strong Cash Flows Enabling Disciplined Capital Allocation

    STRONG CASH FLOWS ENABLING DISCIPLINED CAPITAL ALLOCATION FY25 FY24 ($m) Net operating cash flows before interest and tax 250.3 233.4 • Net operating cash flow up $5.1m on prior year to $181.4m; cash Net interest paid (8.7) (7.6) conversion 120.2% Interest paid on leases (32.2) (28.9) • Investing ca

  14. Slide 14: Balance Sheet Capacity to Fund Future Growth Opportunities

    BALANCE SHEET CAPACITY TO FUND FUTURE GROWTH OPPORTUNITIES 27 April 2025 28 April 2024 ($m) Cash and equivalents 119.1 83.8 Other current assets 27.1 25.8 • Net debt down $27.6m to $137.9m driven by strong cash generation and disciplined allocation of capital Total current assets 146.3 109.6 Propert

  15. Slide 15: Capital Allocation Priorities

    CAPITAL ALLOCATION PRIORITIES INVEST IN MAINTAIN A CONSISTENT PROFITABLE STRONG FULLY FRANKED GROWTH BALANCE DIVIDENDS & OPPORTUNITIES SHEET DISCIPLINED CAPITAL MANAGEMENT COLLINS FOODS LIMITED | RESULTS 2025 14

  16. Slide 16: Collins Foods Limited

    COLLINS FOODS LIMITED | RESULTS 2025 15

  17. Slide 17: Summary - KFC Australia

    SUMMARY - KFC AUSTRALIA FY25 • Effective execution, focused on operational excellence • Strong brand metrics, demonstrating resilience in challenging environment • Digital investment delivering results • Margin improvement realised H2 FY26 • Enhanced operating disciplines, strong execution and impro

  18. Slide 18: Brand Strength & Execution Benefitting H2

    BRAND STRENGTH & EXECUTION BENEFITTING H2 (2) FY25 FY24 Change Underlying Underlying Restaurants at year end (no.) 288 279 9 # • Revenue up 3.0% to $1,154.2m Revenue ($m) 1,154.2 1,121.0 3.0% # (1) – SSS growth +0.3%, growth accelerating in H2 (1) (1) % SSS 0.3% 3.8% – cycling two years of very stro

  19. Slide 19: Largest KFC Franchisee in Australia

    LARGEST KFC FRANCHISEE IN AUSTRALIA 808 Total KFC RESTAURANTS 6 IN AUSTRALIA 7 182 182 57 68 288 9 53 13 KFC Restaurants Operated by Collins Foods 260 10 4 35% 211 KFC restaurants operated by Collins Foods 17 17 COLLINS FOODS LIMITED | RESULTS 2025 18

  20. Slide 20: Continuing to Deliver Profitable Development, Solid Pipeline

    CONTINUING TO DELIVER PROFITABLE DEVELOPMENT, SOLID PIPELINE 10 new restaurants opened in FY25, one closure KFC Yarrabilba - March 2025 KFC Burdell - March 2025 28-30 restaurants On track to open by 2028 Targeting 7 - 10 in FY26, and c. 30 remodels KFC Harristown - April 2025 KFC Gordonvale - April

  21. Slide 21: Leadership in Brand Health Positions KFC for Continued Growth

    LEADERSHIP IN BRAND HEALTH POSITIONS KFC FOR CONTINUED GROWTH MENU INNOVATION • Innovation on core products, including 'Waffle Double Chicken' and 'Zinger Nachos' • Return of consumer favourites, 'The Slab' and 'Tower Burger' KFC AUSTRALIA BRAND • KFC maintained leadership, highest brand (1) index a

  22. Slide 22: KFC Leads QSR Brand Index Amongst Key Competitors

    KFC leads qsr brand index AMONGST KEY COMPETITORS brand buzz increasing, ESPECIALLY with gen z Brand Index Brand Buzz KFC MCD HJ DOM GYG REDS Jan QTR 2024 April QTR 2024 July QTR 2024 Oct QTR 2024 Jan QTR 2025 KFC MCD Others (Av.) Data Source: YouGov Q1 2025, 1 Jan 2025 – 31 Mar 2025 Brand Index: Yo

  23. Slide 23: Network & Digital Investment Elevating Customer Experience

    NETWORK & DIGITAL INVESTMENT ELEVATING CUSTOMER EXPERIENCE remodels POSITIONED +480 BASIS POINTS & upgrades FOR GROWTH DIGITAL SALES • Upgraded assets with 40 remodels in FY25 • Clarity of execution plans driving positive SSS H2, • (1) Digital at 34.2% of sales vs. 29.4% FY24 positioning KFC for fur

  24. Slide 24: Collins Foods Limited

    COLLINS FOODS LIMITED | RESULTS 2025 23

  25. Slide 25: Challenging Year in Netherlands

    CHALLENGING YEAR IN NETHERLANDS EVIDENCE OF IMPROVING CONDITIONS (2) FY25 FY24 Change Underlying Underlying Restaurants at year end (no.) 78 75 3 # • Weaker performance in Netherlands driving Europe result Revenue ($m) 312.3 313.5 (0.4)% $ (1) • Revenue down 0.4% to $312.3m, reflecting cost-of-livin

  26. Slide 26: Collins Foods Limited

    COLLINS FOODS LIMITED | RESULTS 2025 25

  27. Slide 27: Netherlands Performance Impacted by Cost-of-Living Pressures, Labour Inflation

    NETHERLANDS PERFORMANCE IMPACTED BY COST-OF-LIVING PRESSURES, LABOUR INFLATION FY25 Average Restaurant Revenue ($m) 4.4 4.1 4.1 • Healthy average annual restaurant revenues $4.1m • Margins challenged: – FY25 underlying EBITDA margins 17.5%, below other markets – EBIT margin 6.7%, also below other ma

  28. Slide 28: Netherlands Reset to Restore Profitability

    NETHERLANDS RESET TO RESTORE PROFITABILITY (1) • Lifting operational standards to drive SSS , improving customer experience, labour productivity • Refreshed leadership with greater operational depth, cost focus • Elevating KFC brand, quality and value perceptions to support sales – effective marketi

  29. Slide 29: Market Share Gains Driven by Innovation & Digital Investment

    MARKET SHARE GAINS DRIVEN BY INNOVATION & DIGITAL INVESTMENT NEW PRODUCTS In the Netherlands, innovative products 'Kipsalon' and 'Lava Sauce' deliver higher margins while meeting consumer demand for value and distinctive experiences 70% BRAND AWARENESS 62.9% Awareness and consideration improving in

  30. Slide 30: Collins Foods Limited

    COLLINS FOODS LIMITED | RESULTS 2025 29

  31. Slide 31: Germany Offers Significant, Untapped Growth Opportunity

    GERMANY OFFERS SIGNIFICANT, UNTAPPED GROWTH OPPORTUNITY LARGE ADDRESSABLE MARKET • 80 million+ consumers, only 207 KFC restaurants (1) (vs c.1,400 McDonalds & c.750 Burger King) (2) • QSR outpacing GDP growth in Germany (3) • KFC brand, and chicken category, under-penetrated in QSR • Other franchise

  32. Slide 32: Targeting Attractive States; Significant Development Potential

    TARGETING ATTRACTIVE STATES; SIGNIFICANT DEVELOPMENT POTENTIAL • North Rhine Westphalia: (1) – Germany’s most populous state - c. 18 million residents – 46 KFCs; 8 operated by Collins Foods > Yum! and Collins Foods RSCs in Düsseldorf > 1 KFC to 391k people (2) – 295 McDonalds, 98 Burger Kings • Bade

  33. Slide 33: High-Performing Restaurants in Germany...

    HIGH-PERFORMING RESTAURANTS IN GERMANY... COLLINS FOODS LIMITED | RESULTS 2025 32

  34. Slide 34: ...With Attractive Store Economics

    ...WITH ATTRACTIVE STORE ECONOMICS FY25 Average Restaurant Revenue ($m) 4.4 4.1 4.1 • Strong average annual restaurant revenues of $4.4m, slightly ahead of KFC Australia and the Netherlands • FY25 restaurant margins broadly comparable with KFC Australia despite market KFC Australia KFC Germany KFC N

  35. Slide 35: Collins Foods Limited

    COLLINS FOODS LIMITED | RESULTS 2025 34

  36. Slide 36: Continuing Flat Performance Amid Challenging Consumer Environment

    CONTINUING FLAT PERFORMANCE AMID CHALLENGING CONSUMER ENVIRONMENT (2) FY25 FY24 Change Underlying Underlying Restaurants at year end (no.) 27 27 – TACO BELL RESULTS Revenue ($m) 53.0 54.4 (2.5)% $ (1) • Revenue down 2.5% to $53.0m, impacted by weaker consumer % SSS (1.7)% 3.5% environment • Digital

  37. Slide 37: Outlook

    OUTLOOK

  38. Slide 38: Summary

    SUMMARY • Effective execution of strategy - operational excellence to drive growth and margins • Strong brand metrics, demonstrating resilience in challenging environment • Positioned to take advantage of improving conditions, with momentum building • Strong cash generation and healthy balance sheet

  39. Slide 39: Well Positioned in Improving Markets; Significant Growth Runway

    WELL POSITIONED IN IMPROVING MARKETS; SIGNIFICANT GROWTH RUNWAY AUSTRALIA THE NETHERLANDS GERMANY • First 8 weeks FY26 total sales up 4.9%, SSS +1.6% • First 8 weeks FY26 total sales up 2.6%, SSS (0.2%) on • First 8 weeks FY26 total sales up 2.4%, SSS +1.3% on pcp pcp on pcp ◦ H2 SSS improvement con

  40. Slide 40: Questions

    COLLINS FOODS LIMITED | RESULTS 2025 QUESTIONS 39

  41. Slide 41: Appendix

    COLLINS FOODS LIMITED | RESULTS 2025 APPENDIX 40

  42. Slide 42: Group Results Summary

    GROUP RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY25 FY25 FY25 FY24 Change FY25 FY25 FY25 FY24 Change Statutory Non-trading Underlying Underlying Statutory Non-trading Underlying Underlying items items ($m) (1) Revenue continuing operations 1,519.5 – 1,519.5 1,488.9 2.1% # 1,519.5 – 1,519.5 1,488.9 2

  43. Slide 43: KFC Australia Results Summary

    KFC AUSTRALIA RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY25 FY25 FY25 FY24 Change FY25 FY25 FY25 FY24 Change Statutory Non-trading Underlying Underlying Statutory Non-trading Underlying Underlying items items Restaurants at year end (no.) 288 288 279 9 # 288 288 279 9 # Revenue ($m) 1,154.2 – 1,154.

  44. Slide 44: KFC Europe Results Summary

    KFC EUROPE RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY25 FY25 FY25 FY24 Change FY25 FY25 FY25 FY24 Change Statutory Non-trading Underlying Underlying Statutory Non-trading Underlying Underlying items items Restaurants at year end (no.) 78 78 75 3 # 78 78 75 3 # Revenue ($m) 312.3 – 312.3 313.5 (0.4)

  45. Slide 45: Taco Bell Results Summary

    TACO BELL RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY25 FY25 FY25 FY24 Change FY25 FY25 FY25 FY24 Change Statutory Non-trading Underlying Underlying Statutory Non-trading Underlying Underlying items items Restaurants at year end (no.) 27 27 27 – 27 27 27 – Revenue ($m) 53.0 – 53.0 54.4 (2.5)% $ 53.0

  46. Slide 46: FY25 Non-Trading Items Summary

    FY25 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) (0.9) (0.9) (0.6) Taco Bell impairment - previously impaired restaurants – 1.0 0.7 – 0.3 0.2 KFC Australia impairment – 2.3 1.6 – 0.6 0.4 KFC Germany im

  47. Slide 47: For Further Information Please Contact

    FOR FURTHER INFORMATION PLEASE CONTACT Collins Foods Limited ACN 151 420 781 Level 3, KSD1, 485 Kingsford Smith Drive Hamilton QLD 4007 AUSTRALIA INVESTORS www.collinsfoods.com Adrian Mulcahy Automic Group P: +61 438 630 422 E: adrian.mulcahy@automicgroup.com.au MEDIA Jasmine Walters Automic Group P

Collins Foods — FY2025 Earnings Presentation on 6ix