Guzman Y Gomez Ltd. · ASX:GYG
Guzman Y Gomez — H1 2026 Earnings Presentation
41 slides from Guzman Y Gomez's earnings presentation, Feb 20, 2026
Slide 1: Guzman Y Gomez
GUZMAN Y GOMEZ
Slide 2: Guzman Y Gomez
GUZMAN Y GOMEZ
Slide 3: Vision, Mission and Values Underpin Our Strategy
VISION, MISSION AND VALUES UNDERPIN OUR STRATEGY 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ 3
Slide 4: Guzman Y Gomez
GUZMAN Y GOMEZ
Slide 5: Strong Performance Across Key Financial and Operating Metrics
STRONG PERFORMANCE ACROSS KEY FINANCIAL AND OPERATING METRICS 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ 5
Slide 6: A Strong Half with Significant Financial Momentum
A STRONG HALF WITH SIGNIFICANT FINANCIAL MOMENTUM 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Group statutory results $ million 1H26 1H25 Change Revenue 261.2 212.4 23.0% EBITDA 40.9 31.6 29.6% Depreciation and amortisation (21.2) (19.1) 11.0% EBIT 19.8 12.5 58.1% Net finance income / costs (
Slide 7: Underlying Earnings Better Reflect the Real Earnings Power of the Business
UNDERLYING EARNINGS BETTER REFLECT THE REAL EARNINGS POWER OF THE BUSINESS 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Group underlying results1 AASB 2 AASB 16 Share-Based Other $ million Statutory Leases Payments adjustments1 Underlying Australia Segment 41.3 US Segment (8.3) EBITDA 40.9 (10
Slide 8: A Growing Network Powering Sales Growth
A GROWING NETWORK POWERING SALES GROWTH... 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Global restaurant network Global network sales 1,400 300 1,285 272 1,181 256 1,200 250 220 960 Number of restaurants (#) 1,000 15% 194 Network Sales ($m) 200 CAGR 27% 169 800 CAGR 759 158 150 138 127 600 57
Slide 9: ...and Delivering Earnings Expansion
...AND DELIVERING EARNINGS EXPANSION 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ In the last 3 years, operating leverage has delivered significant margin expansion AUSTRALIA SEGMENT AUSTRALIA SEGMENT UNDERLYING UNDERLYING EBITDA ($M) EBITDA AS A OF NETWORK SALES 41.3 6.1% +2.4pp 5.8% 46% 34.2
Slide 10: Guzman Y Gomez
GUZMAN Y GOMEZ
Slide 11: Consistent Sales Growth in the Australia Segment
CONSISTENT SALES GROWTH IN THE AUSTRALIA SEGMENT 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ AUSTRALIA ASIA Network sales ($m) Network sales ($m) 25% 20% CAGR CAGR 632 42 39 556 35 538 28 26 439 456 5 1H24 2H24 1H25 2H25 1H26 1H24 2H24 1H25 2H25 1H26 • Strong network sales growth of 17.4% on
Slide 12: Underpinned by Five Core Drivers of Volume Growth
UNDERPINNED BY FIVE CORE DRIVERS OF VOLUME GROWTH 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ In Australia, transaction growth outpaced comp sales growth, as GYG continues to prioritise value for its guests CAPACITY & DIGITAL Latent capacity in Comp sales growth Successful launch of Authentic
Slide 13: Growth in Sales Has Translated to Strong Earnings Growth
GROWTH IN SALES HAS TRANSLATED TO STRONG EARNINGS GROWTH 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Australia Segment performance $ million 1H26 1H25 Change • Network sales driven by restaurant Network sales 673.6 573.0 17.5% network expansion and positive comp sales growth Corporate restaur
Slide 14: Exceptional Network Health in Australia
EXCEPTIONAL NETWORK HEALTH IN AUSTRALIA 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Compelling restaurant economics underpinning high-quality network growth Average network AUVs1 ($m) and restaurant margins (%) DRIVE THRU • Solid sales execution across all formats, with +20% 126 drive thrus,
Slide 15: Outstanding Australian Franchise Economics
OUTSTANDING AUSTRALIAN FRANCHISE ECONOMICS 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Profitability of Australian franchisees continues to grow Median franchise AUVs ($m) and restaurant margins (%)1 6.0 5.4 • Significant increase in AUVs, up 5.4 5.1 9.8% relative to 1H25 and up 31% 4.6 19.9%
Slide 16: Sustainability of Growth Highlighted by Top of Restaurants by AUV
SUSTAINABILITY OF GROWTH HIGHLIGHTED BY TOP 10 OF RESTAURANTS BY AUV 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ CASE STUDY GYG’s top 10% of restaurants by AUV in Australia are mainly drive thrus, which continue to outperform the network 9.4% $9.6m Comp sales growth AUV 24.1% 86% Restaurant m
Slide 17: Strength in New Restaurant Roll-out
STRENGTH IN NEW RESTAURANT ROLL-OUT 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ 108 Restaurants in pipeline with 33 Additions to pipeline during commercial terms agreed the period >85% Of the pipeline are drive thrus 14 New restaurant openings in Australia in 1H26 DECEMBER 2025 17
Slide 18: Consistent Quality of New Restaurants
CONSISTENT QUALITY OF NEW RESTAURANTS 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Average drive thru opening performance by cohort RESTAURANT AUV RESTAURANT MARGINS NEW DRIVE THRUS NEW DRIVE THRUS 7.0 25% AUV (annualised) ($m) 6.0 20% Restaurant margin (%) 5.0 15% Average at Average of last 4
Slide 19: Guzman Y Gomez
GUZMAN Y GOMEZ
Slide 20: GYG Has Continued to Make Strategic Progress During H26
GYG HAS CONTINUED TO MAKE STRATEGIC PROGRESS DURING H26 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ • Sales growth remains a priority, with total network sales growth of 67.0% and comp sales growth of 2.9% across the four restaurants in the comparable base. Comp sales growth was lower in Q2 l
Slide 21: Connecting GYG with More Communities Across the Greater Chicago Area
CONNECTING GYG WITH MORE COMMUNITIES ACROSS THE GREATER CHICAGO AREA 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ 1H26 new restaurant openings JULY 2025 DECEMBER 2025 21
Slide 22: US Segment Performance
US SEGMENT PERFORMANCE 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ 1H26 performance reflects progress in existing restaurant productivity offset by the newer, ramping restaurants $ million 1H26 1H25 Change • 67.0% network sales growth driven by new Network sales 8.2 4.9 67.0% restaurants and
Slide 23: GYG Maintains FY26 Outlook for the US Segment
GYG MAINTAINS FY26 OUTLOOK FOR THE US SEGMENT 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ • Brand positioning to emphasise • Continued improvement in • Improving restaurant profitability flavour, value and culture, with a labour productivity and and stable G&A are expected continued focus on
Slide 24: Guzman Y Gomez
GUZMAN Y GOMEZ
Slide 25: Strong Conversion of Earnings into Cash Flows
STRONG CONVERSION OF EARNINGS INTO CASH FLOWS 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ $ million 1H26 1H25 NPAT 10.6 7.3 Depreciation and amortisation expense 21.2 19.1 Net finance (income) / costs 0.6 (2.7) • Growth in operating cash flows Changes in operating assets and liabilities (11.9
Slide 26: Capital Expenditure Reflects Network Investment
CAPITAL EXPENDITURE REFLECTS NETWORK INVESTMENT 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Capital expenditure during the half driven by restaurant openings, refurbishments and new restaurants in progress $ million 1H26 1H25 • $16.9 million ($16.0 million net of Restaurant capital expenditur
Slide 27: Strong Balance Sheet Supporting Continued Network Expansion
STRONG BALANCE SHEET SUPPORTING CONTINUED NETWORK EXPANSION 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ $ million 1H26 FY25 Cash and term deposits 236.4 281.7 Trade and other receivables 25.4 24.8 Inventories 6.0 3.8 Finance lease receivables 192.7 174.8 • Cash balance predominantly held in P
Slide 28: Guzman Y Gomez
GUZMAN Y GOMEZ
Slide 29: GYG Maintains Its Outlook for the Australia Segment
GYG MAINTAINS ITS OUTLOOK FOR THE AUSTRALIA SEGMENT 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ GYG expects to deliver strong sales growth through network expansion, menu innovation, daypart expansion, operational excellence, marketing, and delivery and digital FY23 FY24 FY25 FY26 guidance 1H
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Slide 31: Guzman Y Gomez
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Slide 32: Continued Comp Sales Growth in Australia
CONTINUED COMP SALES GROWTH IN AUSTRALIA 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ 1,200 Network sales ($m) and daypart comp (%) 26% 28% 1,000 17% 4% 800 8% 32% 7% 600 6% 33% 12% 9% 7% 400 46% 18% 11% 41% 14% 22% 6% 3% 200 9% 38% 7% 13% 13% 24% 13% 7% 11% 50% 36% 43% 18% 20% 15% 0 FY20 FY21
Slide 33: Key Operating and Financial Metrics
KEY OPERATING AND FINANCIAL METRICS 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ $ million, unless stated otherwise 1H24 2H24 FY24 1H25 2H25 FY25 1H26 Corporate – Australia1 62 64 64 74 81 81 87 Restaurants (#) Corporate – US2 4 4 4 4 6 6 8 Franchised – Australia 121 130 130 136 143 143 150 Fr
Slide 34: Quarterly Sales Performance
QUARTERLY SALES PERFORMANCE 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ $ million, unless otherwise stated 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Australia 214.8 223.8 217.5 238.5 260.2 278.1 267.6 288.8 305.5 326.6 Asia 13.3 13.1 14.0 13.7 16.1 18.7 18.7 20.4 20.8 20.7 US 2.7 2.9
Slide 35: Australian Restaurant Reconciliation
AUSTRALIAN RESTAURANT RECONCILIATION 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Number of restaurants at year end 1H24 2H24 FY24 1H25 2H25 FY25 1H26 Opening balance Corporate 55 62 55 64 74 64 81 Franchise 116 121 116 130 136 130 143 New restaurants Corporate 7 4 11 5 8 13 5 Franchise 6 8 14
Slide 36: Cash Conversion Methodology
CASH CONVERSION METHODOLOGY 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ $ million 1H26 1H25 Operating cash flows 23.3 19.2 Taxes paid 17.6 13.7 Lease payments (principal and interest) (13.7) (11.4) Pre-tax operating cash flows, including rent 27.1 21.4 IPO-related adjustments1 - 7.8 Adjusted
Slide 37: Glossary
GLOSSARY 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Term Description AASB means the Australian Accounting Standards Board. Amortisation of reacquired refers to the amortisation of reacquired rights due to the buyback of franchise restaurants from franchisees. These are typically rights amort
Slide 38: Glossary
GLOSSARY 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Term Description is calculated as profit or loss before interest income including interest income from lease receivables, interest expense including EBIT interest on the lease liability recognised and income tax expense. EBIT is presented o
Slide 39: Glossary
GLOSSARY 2026 HALF-YEAR RESULTS PRESENTATION GUZMAN Y GOMEZ Term Description is calculated as the aggregate sales of all or a specified group of GYG restaurants over a specified time period, including restaurants owned and operated by franchisees and master franchisees unless otherwise specified. Ne
Slide 40: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation is given on behalf of Guzman y Gomez Limited (“GYG” or “the Company”) (ASX: GYG) (ACN 125 554 743). By accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this GUZMAN Y GOMEZ Important Notice and Dis
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GUZMAN Y GOMEZ