Amrest Holdings Se · GPW:EAT
Amrest — Q1 2026 Earnings Presentation
29 slides from Amrest's earnings presentation, May 8, 2026
Slide 1: Investors Presentation Q1'26 results presentation
Investors Presentation Q1’26 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 2,129 22 48% of the brands restaurants countries portfolio AmRest is a leading Fast casual restaurants European listed 17% of the 5 restaurant operator, 691 portfolio 177 master franchiser 6 3 249 and operator of 26 Ca
Slide 3: Q1 2026 Highlights
3 Q1 2026 Highlights Performance dashboard Revenues New restaurants EUR 588.7m -1.5% vs. last year excluding disposals* +89 gross openings in the last 12 months** +12 gross openings in Q1´26 EBITDA EUR 76.8m Leverage 13% EBITDA margin 2.6x Prudent financial profile Positive evolution free cash flow
Slide 4: Committed to providing exceptional products and services to our clients
4 Committed to providing exceptional products and services to our clients Diverse mix of innovation-led New flavors, Strengthening beverage mix launches renewed identity
Slide 5: Committed to providing exceptional products and services to our clients
5 Committed to providing exceptional products and services to our clients “Le Petit Prince” LTO New “Flavors of Hut deals – value Enjoy great meals without sales momentum China” Menu proposition and variety a big budget
Slide 6: Sales channel performance
6 Sales channel performance ❑ Temporary factors led to a shift in consumer behavior toward more cautious, convenience-driven choices, resulting in higher delivery sale. ❑ Digital sales** remain strong, consistently accounting for over 60% of total sales. AmRest sales* channel evolution (EURm) Digita
Slide 7: Ongoing CapEx optimization execution
7 Ongoing CapEx optimization execution ❑ CapEx effort is getting normalized as is the pace of renovation work. ❑ Gross opening path remained broadly stable. AmRest CapEx as % of total TTM sales* TTM Gross** new equity openings and renovation 10% 300 200 5% 100 0% 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q4 Q
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 restaurants 2,318 2,414 2,313 2,163 2,099 2,139 2,129 2,500 2,500 2,139 2,036 2,099 2,129 Strategic adjustments / Non-performing 1,961 2,000 1,846 1,92
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 10: Q1'26 highlights
10 Q1’26 highlights Sales growth € 588.7m (1.5)% 96.3 Sales Sales vs. Q1’25 SSS Index € 620.2m in Q1’25 excl. SCM disposal * vs. Q1’25 Profitability € 76.8m € 5.5m € (17.3)m EBITDA EBIT Net profit € 28.0m EBITDA Non-IFRS16 0.9% margin € (8.7)m in Q1’25 Portfolio CapEx 12 Gross openings € 22.0m CAPEX
Slide 11: EBITDA and EBIT margin evolution
11 EBITDA and EBIT margin evolution EBITDA amounted to EUR 76.8 million in Q1’26. Q1’26 delivered EBIT of EUR 5.5m. EBITDA [EURm] & EBITDA Margin EBIT [EURm] & EBIT Margin 13.7% 50.0 6.0% 13.2% 13.0% 45.0 3.1% 4.0% 40.0 2.1% 35.0 0.9% 2.0% 30.0 81.1 81.7 76.8 25.0 0.0% 20.0 -2.0% 15.0 18.6 10.0 13.0
Slide 12: Q1'26 P&L highlights
12 Q1’26 P&L highlights Variation Reporting period Q1'26 Q1'25 ❑ Net cash from operating activities increased EURm by EUR 9.5m,+17.9% vs Q1’25. Net Operating CF 62.6 53.1 9.5 Net Investment CF (32.0) (47.6) 15.6 ❑ Investing cash outflows decreased by EUR 15.6 million. Reporting period Q1'26 Q1'25 Va
Slide 13: Q1'26 debt and cash evolution
13 Q1’26 debt and cash evolution ❑ Leverage ratio(1) at prudent leverage. ❑ Efficient liquidity position, in line with the Group´s needs. (2) Net financial debt evolution & cash position 700.0 616.4 9.0 600.0 547.2 Liquidity and leverage 518.3 7.0 500.0 468.3 5.0 Cash (EURm) 117.1 397.4 400.0 3.0 2.
Slide 14: AmRest, a diversified multinational company
14 AmRest, a diversified multinational company Business is distributed between three different geographical segments for analysis purposes. Breakdown of Sales, EBITDA and unit count for Q1’26 by segment: Sales by segment EBITDA by segment Number of units by segment 3% 4% 4% 35% 29% 36% 62% 68% 60% C
Slide 15: Q1'26 segment breakdown | CEE
15 Q1’26 segment breakdown | CEE 4 1,283 10 brands restaurants countries Revenues EUR 365.1m -0.4% vs. Q1’25 Quick service restaurants 691 62% of the portfolio 249 26 EBITDA EUR 59.0m 2 172 Fast casual restaurants 1 13 71 -5.5% vs. Q1’25 15% of the 31 portfolio 16.2% margin 27 -0.9 p.p. vs. Q1’25 Co
Slide 16: Q1'26 segment breakdown | CEE
16 Q1’26 segment breakdown | CEE ❑ Revenues reached EUR 365.1 million in Q1’26, down 0.4% YoY. ❑ EBITDA at EUR 59.0 million, representing a margin of 16.2% CEE sales [EURm] EBITDA [EURm] & EBITDA Margin Store count 19.8% 20.4% 19.9% -0.4% 17.0% 16.2% 421.4 399.5 394.2 86.1 366.5 365.1 78.9 78.4 1,26
Slide 17: Q1'26 segment breakdown | WE
17 Q1’26 segment breakdown | WE 5 762 11 brands restaurants countries Revenues Quick service restaurants EUR 204.4m 5 29% of -2.5% vs. Q1’25 177 portfolio 6 3 EBITDA Casual dining restaurants 29% of 187 11 EUR 24.9m portfolio -15.5% vs. Q1’25 2 12.2% margin Fast casual restaurants -1.9 p.p. vs. Q1’2
Slide 18: Q1'26 segment breakdown | WE
18 Q1’26 segment breakdown | WE ❑ Revenues reached EUR 204.4 million, a decrease of 2.5% compared to Q1’25. ❑ EBITDA reached EUR 24.9 million, representing a margin of 12.2% WE sales [EURm] EBITDA [EURm] & EBITDA Margin Store count -2.5% 14.1% 15.3% 14.7% 15.1% 12.2% 219.6 219.2 221.2 209.5 204.4 33
Slide 19: Q1'26 segment breakdown | China
19 Q1’26 segment breakdown | China 1 84 1 brand restaurants country Revenues EUR 19.2m -12.5% vs. Q1’25 Casual dining restaurants 100% of EBITDA portfolio EUR 3.1m 84 -22.6% vs. Q1’25 16.3% margin -2.1 p.p. vs. Q1’25
Slide 20: Q1'26 segment breakdown | China
20 Q1’26 segment breakdown | China ❑ Revenues reached EUR 19.2 million, representing a 12.5% decrease compared to the same period in 2025. ❑ The EBITDA generated amount to EUR 3.1 million, representing a margin 16.3%. Segment sales [EURm] EBITDA [EURm] & EBITDA Margin Store - count -12.5% 22.8% 18.4
Slide 21: Appendix
de APPENDIX
Slide 22: AmRest footprint
22 AmRest footprint Store count by country 8 2,129 22 brands restaurants countries 5 691 Total 177 6 Poland 405 - 131 16 44 - 95 - 675 16 3 249 26 Czechia 140 - 15 - 33 - 61 - 249 - 2 187 11 172 Hungary 106 - 22 6 - - 38 - 166 6 1 71 13 Romania 10 - 61 - 71 - 31 Spain 129 - 62 151 4 - - 2 195 153 2
Slide 23: Financial statement
23 Financial statement Balance Sheet Note 31 March 2026 31 Decem ber 2025 Share capital 9 22.0 22.0 Reserves 9 163.4 162.3 Retained earnings 170.9 188.1 Translation reserve 9 0.2 (1.0) Equity attributable to shareholders of the parent 356.5 371.4 Note 31 March 2026 31 Decem ber 2025 Non-controlling
Slide 24: Financial statement
24 Financial statement Segment breakdown 3 MONTHS ENDED 3 MONTHS ENDED 31 March 2026 31 March 2025 31 March 2026 31 March 2025 Amount % of sales Amount % of sales Amount % of sales Amount % of sales Revenue 588.7 100.0% 620.2 100.0% Adjusted EBITDA* 77.6 13.2% 87.8 14.2% Poland 200.5 34.1% 193.3 31.
Slide 25: Financial statement
25 Financial statement EBITDA bridge 3 MONTHS ENDED 31 March 2026 31 March 2025 Amount % of sales Amount % of sales Profit/(loss) for the period (17.3) (2.9%) (8.7) (1.4%) + Finance costs 24.3 4.1% 20.6 3.3% – Finance income (0.2) (0.0%) (4.1) (0.7%) +/– Income tax expense (1.3) (0.2%) 5.2 0.8% + De
Slide 26: Financial statement
26 Financial statement P&L 3 MONTHS ENDED Note 31 March 2026 31 March 2025 Restaurant sales 572.6 581.6 Franchise and other sales 16.1 38.6 Total revenue 4 588.7 620.2 Restaurant expenses: Food and merchandise 5 (154.2) (160.6) Payroll and other employee benefits 5 (157.6) (152.0) Royalties 5 (29.2)
Slide 27: Restaurant portfolio
27 Restaurant portfolio Shareholder structure* Other Shareholders, 23.32% Listing details Warsaw (since 2005) Listing venues: Madrid (since 2018) PTE Allianz Polska SA**; 4.34% ISIN: ES010537500 FCapital Dutch S.L.***, 67.05% Shares issued: 219.6m FYNVEUR S.C.A., 5.29% *Last update as of 31 March 20
Slide 28: Glossary
28 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 29: 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