Collins Foods Limited · ASX:CKF
Collins Foods — FY2026 Earnings Presentation
44 slides from Collins Foods's earnings presentation, Jun 30, 2026
Slide 1: Results 2026
RESULTS 2026 28 April 2025 to 3 May 2026 (FY26) (53 weeks) 30 June 2026 Authorised for release by the Board
Slide 2: FY26: A Record Year
FY26: A RECORD YEAR RECORD RECORD STATUTORY REVENUE * NPAT *# NPAT * $1,592.6M $61.4M $47.1M up 8.6% (FY25: $1,466.5m) up 13.0% ( FY25: $54.4m) up 280.5% (FY25: $12.4m) * Continuing operations, excluding Taco Bell results # Underlying, excluding the effects of non-trading items 2
Slide 3: FY26 Achievements
FY26 ACHIEVEMENTS IN ADDITION TO RECORD UNDERLYING RESULTS: 01 02 03 04 LIFTED PERFORMANCE ENABLED GROWTH IMPROVED PROFITABILITY TACO BELL EXIT IN AUSTRALIA PATHWAY IN GERMANY IN THE NETHERLANDS • Successful negotiation • Operational disciplines resulting in • New development agreements • Extended a
Slide 4: Record Revenue and Underlying Earnings
RECORD REVENUE AND UNDERLYING EARNINGS REVENUE* UNDERLYING EBITDA* NET DEBT $1,592.6M $244.5M $119.6M 8.6% vs FY25: $1,466.5m 6.3% vs FY25: $230.1m $18.3m vs FY25: $137.9m NET LEVERAGE RATIO2 UNDERLYING NPAT* 0.77 $61.4M 0.16 vs FY25 0.93 13.0% vs FY25: $54.4m UNDERLYING NPAT (INC. DISCONTINUED OPER
Slide 5: FY26 Sustainability Progress
FY26 SUSTAINABILITY PROGRESS PATHWAY TO 2030 • FY26 marks the first year of mandatory climate reporting under AASB S2, including release of inaugural transition plan • FY26 was a year of consolidation and capability-building to enable Collins Foods’ sustainability agenda • Following establishment of
Slide 6: Financial Performance
FINANCIAL PERFORMANCE
Slide 7: Strong result with record revenue and underlying earnings, continued reduction in net debt and leverage
STRONG RESULT WITH RECORD REVENUE AND UNDERLYING EARNINGS, CONTINUED REDUCTION IN NET DEBT AND LEVERAGE FY26* FY25 CHANGE UNDERLYING UNDERLYING ($m) Revenue# 1,592.6 1,466.5 8.6% # • Revenue: a record $1,592.6m, up 8.6%, growth in Australia and Europe • Underlying EBITDA $244.5m up 6.3% at margin 15
Slide 8: Income Statement: Reconciliation of Underlying and Statutory Results
INCOME STATEMENT: RECONCILIATION OF UNDERLYING AND STATUTORY RESULTS FY26 DISCONTINUED NON-TRADING FY26 FY25 CHANGE STATUTORY 1 OPERATIONS ITEMS UNDERLYING2 UNDERLYING2 ($m) Revenue 1,640.3 (47.7) – 1,592.6 1,466.5 8.6% # NON-TRADING ITEMS EBITDA 231.1 1.8 11.6 244.5 230.1 6.3% # • $2.7m NPAT - 2 KF
Slide 9: Strong Cash Flows Enabling Disciplined Investment, Consistent Dividends, Debt Reduction
STRONG CASH FLOWS ENABLING DISCIPLINED INVESTMENT, CONSISTENT DIVIDENDS, DEBT REDUCTION ($m) FY26 FY25 Net operating cash flows before interest and tax 232.6 250.3 • Net operating cash flow before interest and tax $232.6m Net interest paid (8.1) (8.7) – lower than prior year due to timing of royalty
Slide 10: Strong Balance Sheet, Capacity to Fund Growth Opportunities
STRONG BALANCE SHEET, CAPACITY TO FUND GROWTH OPPORTUNITIES 3 MAY 2026 27 APRIL 2025 ($m) Cash and equivalents 93.9 119.1 • Net debt down vs. FY25 to $119.6m, strong cash generation Other current assets 26.9 27.1 • Cash $93.9m, down $25.2m over pcp reflecting $32.9m debt repayment Total current asse
Slide 11: KFC Australia
CL ‘COLLINS FOODS LIMITED KFC AUSTRALIA COLLINS FOODS LIMITED | RESULTS 2026
Slide 12: Sales Growth, Productivity Driving Profits Up
SALES GROWTH, PRODUCTIVITY DRIVING PROFITS UP FY26* FY25 CHANGE UNDERLYING UNDERLYING Restaurants at year end (no.) 295 288 7 # • Restaurant count up 7 to 295 Revenue ($m) 1,241.3 1,154.2 7.6% # • Revenue up 7.6% to $1,241.3m – SSS1 growth +2.7% % SSS1 2.7% 0.3% • Restaurant EBITDA up 6.2% to $260.5
Slide 13: KFC Brand Strength, Menu Innovation Powering Growth
KFC BRAND STRENGTH, MENU INNOVATION POWERING GROWTH INNOVATION DRIVING MOMENTUM BRAND LEADERSHIP SUSTAINED EXPANDING USAGE OCCASIONS • Innovation on core, including Zinger Banh Mi, Upside • KFC dominated the QSR1 category in Brand Index • Commenced ‘Kwench by KFC’ national rollout, Down Double, and
Slide 14: KFC Dominates QSR Brand Index and Brand Buzz
KFC DOMINATES QSR BRAND INDEX AND BRAND BUZZ Brand Index Brand Buzz KFC MCD Others (Av.) Jan QTR 2025 April QTR 2025 July QTR 2025 Oct QTR 2025 Jan QTR 2026 KFC MCD Others (Av.) QSR means Quick Service Restaurants. Data Source - YouGov January 2025 to March 2026. Brand Index - YouGov Brand Index is
Slide 15: Operational Excellence Elevating Customer Experience & Supporting Growth
OPERATIONAL EXCELLENCE ELEVATING CUSTOMER EXPERIENCE & SUPPORTING GROWTH OPERATIONAL EXCELLENCE RECOGNISED • Best year ever on KFC Australia National Balanced Scorecard • Received 6 of Top 11 National Restaurant Managers, 4 of 9 National category awards and Area Coach of the Year • Global recognitio
Slide 16: KFC Europe
CL ‘COLLINS FOODS LIMITED KFC EUROPE
Slide 17: Solid Improvement in Challenging Economic Conditions
SOLID IMPROVEMENT IN CHALLENGING ECONOMIC CONDITIONS FY26* FY25 CHANGE UNDERLYING UNDERLYING Restaurants at year end (no.) 80 78 2 # • Profit improvement in Netherlands, profitable growth in Germany Revenue ($m) 351.3 312.3 12.5% enabling materially stronger result # • Revenue up 12.5% to $351.3m (7
Slide 18: Operational Performance Improving Restaurant Experience, in Turn Driving Results
OPERATIONAL PERFORMANCE IMPROVING RESTAURANT EXPERIENCE, IN TURN DRIVING RESULTS CUSTOMER EXPERIENCE SALES MARGINS • Investment improving customer experience • The Netherlands and Germany benefitting from • Focus on sales forecasting, unlocking efficiency increased number of marketing windows in FY2
Slide 19: Germany
CL ‘COLLINS FOODS LIMITED GERMANY COLLINS FOODS LIMITED | RESULTS 2026
Slide 20: Execution on Key Strategic Opportunity Progressing
EXECUTION ON KEY STRATEGIC OPPORTUNITY PROGRESSING FY26 Average Restaurant Revenue ($m) HIGHLIGHTS 6.3 • Unit economics in existing restaurants comparable to Australia despite lower restaurant density and network maturity 4.7 4.5 4.2 4.1 4.2 4.3 • FY26 margins slightly down on FY25 due to poultry co
Slide 21: Establishing Germany as Second Strategic Growth Pillar
ESTABLISHING GERMANY AS SECOND STRATEGIC GROWTH PILLAR LARGE ADDRESSABLE MARKET • 80 million+ consumers1, only 217 KFC restaurants (vs c.1,400 McDonalds & c.750 Burger King) • KFC brand and chicken category under-penetrated ACTION ON SECOND GROWTH PILLAR STRATEGIC STRENGTHENING OF MARKET POSITION •
Slide 22: The Netherlands
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Slide 23: Brand Health, Operational Focus Supporting Performance
BRAND HEALTH, OPERATIONAL FOCUS SUPPORTING PERFORMANCE IMPROVED PERFORMANCE 71% BRAND AWARENESS CFA EXTENDED, SIMPLIFIED 67% DIGITAL CHANNEL MIX4 • Restaurant EBIT margin up from 6.7% to • Awareness +1.1 percentage points, with • Yum! Brands to resume marketing • Continued digital channel growth4, 8
Slide 24: Taco Bell
COLLINS FOODS LIMITED | RESULTS 2026
Slide 25: Taco Bell Exit Successfully Negotiated
TACO BELL EXIT SUCCESSFULLY NEGOTIATED FY26* FY25 CHANGE UNDERLYING UNDERLYING Restaurants at year end (no.) – 27 (27) $ TRANSITION AGREEMENT DETAILS Revenue ($m) 47.7 53.0 (10.0)% $ • Taco Bell exit announced 31 March 2026 • 20 restaurants transferring to a joint venture between a subsidiary of Yum
Slide 26: Investing and Executing for Growth
INVESTING AND EXECUTING FOR GROWTH
Slide 27: Strategic Growth Priorities
STRATEGIC GROWTH PRIORITIES 01 ACCELERATING GROWTH IN AUSTRALIA • Invest in product innovation to drive SSS1 growth • Expansion into new day parts • Continued investment in brand equity and digital • Profitable restaurant development • Disciplined focus on costs and efficiencies 02 ACCELERATING SCAL
Slide 28: Australian Operations Transforming with Targeted Investment
AUSTRALIAN OPERATIONS TRANSFORMING WITH TARGETED INVESTMENT TEAM EXPERIENCE OPERATIONS MODERN BRAND • More field-based roles to strengthen training and • Balanced scorecard focused, driving team and • Brand relaunch: GO FULL CHICKEN development of restaurant managers customer experience and profitab
Slide 29: A Proud Obsession with Chicken
A PROUD OBSESSION WITH CHICKEN • New brand campaign captures the heart of what makes KFC iconic: – unapologetic obsession with chicken – pride and care in what we serve to customers – culture restaurant teams bring to life every day • More than a tagline, Go Full Chicken the red thread connecting ho
Slide 30: Day Part Evolution, Category Growing Breakfast and Late Night
DAY PART EVOLUTION, CATEGORY GROWING BREAKFAST AND LATE NIGHT SHARE OF TOTAL AUSTRALIAN QSR1 SPEND BY DAY PART 2 LATE NIGHT/POST MIDNIGHT, 9 % 11% vs 20243 BREAKFAST, 27 % 7% vs 20243 DINNER, 24 % 4% vs 20243 KFC INACTIVE KFC ACTIVE AFTERNOON, 12 % LUNCH, 28 % 9% vs 2024 3 0% vs 20243 1 QSR means Qu
Slide 31: Accelerated Growth Through Strategic Initiatives
ACCELERATED GROWTH THROUGH STRATEGIC INITIATIVES 01 Kwench by KFC 02 Late Night 03 Breakfast Trial • Unlocking speciality beverage segment for • Late night fastest growing segment for • Breakfast higher frequency & growing KFC with high consumer appeal and strong QSR1 spend2 - menu architecture alre
Slide 32: KFC Europe - Accelerating Brand Relevance
KFC EUROPE - ACCELERATING BRAND RELEVANCE CORE & BEYOND CORE CATEGORY USAGE OCCASIONS BRAND IN CULTURE • Boneless formats and hot wings gaining traction as KWENCH BY KFC • Netherlands pivoting to move closer to consumers; preferred formats aiming to be brand that ‘fuels your fire’ • Yum! preparing f
Slide 33: FY27 A Record German Development Year Expected
FY27 A RECORD GERMAN DEVELOPMENT YEAR EXPECTED INVESTING TO DELIVER STEP-UP IN GROWTH Base Case vs Upside Case restaurant growth (Collins Foods restaurants) 115 • FY27 capex approximately $20m: – Mid-single digit new restaurants predominantly in North Rhine Westphalia 86 71 – Munich development oppo
Slide 34: Trading Update & Outlook
CL ‘COLLINS FOODS LIMITED TRADING UPDATE & OUTLOOK
Slide 35: FY27 Trading Update
FY27 TRADING UPDATE FIRST 8 WEEKS OF TRADING UP-WEIGHTED INVESTMENT IN GROWTH • Australia total sales growth 6.7% and SSS1 4.0% • Targeted investment in growth Australia and Europe – strong plan, executing well, effective innovation – Restaurant development – KFC Australia the main profit engine > 7
Slide 36: Summary
SUMMARY 01 FY26 RECORD FINANCIAL RESULT, STRATEGIC INITIATIVES ADVANCED 02 FY27 A YEAR OF INVESTMENT IN GROWTH AND CONTINUED OPERATIONAL EXECUTION 03 SIGNIFICANT STRATEGIC GROWTH RUNWAY IN AUSTRALIA AND EUROPE 04 STRONG BALANCE SHEET WITH CAPACITY TO INVEST FOR PROFITABLE GROWTH UNDERPINNED BY STRON
Slide 37: Questions
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Slide 38: Appendix
COLLINS FOODS LiMiTED APPENDIX COLLINS FOODS LIMITED | RESULTS 2026
Slide 39: Group Results Summary
GROUP RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY26 CHANGE FY26 CHANGE FY26 FY26 FY25 FY26 FY26 FY25 NON-TRADING NON-TRADING STATUTORY UNDERLYING UNDERLYING STATUTORY UNDERLYING UNDERLYING ITEMS ITEMS ($m) Revenue# 1,592.6 – 1,592.6 1,466.5 8.6% # 1,592.6 – 1,592.6 1,466.5 8.6% # EBITDA# 232.9 11.6
Slide 40: KFC Australia Results Summary
KFC AUSTRALIA RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY26 CHANGE FY26 CHANGE FY26 FY26 FY25 FY26 FY26 FY25 NON-TRADING NON-TRADING STATUTORY UNDERLYING UNDERLYING STATUTORY UNDERLYING UNDERLYING ITEMS ITEMS Restaurants at year end (no.) 295 295 288 7 # 295 295 288 7 # Revenue ($m) 1,241.3 – 1,241.
Slide 41: KFC Europe Results Summary
KFC EUROPE RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY26 CHANGE FY26 CHANGE FY26 FY26 FY25 FY26 FY26 FY25 NON-TRADING NON-TRADING STATUTORY UNDERLYING UNDERLYING STATUTORY UNDERLYING UNDERLYING ITEMS ITEMS Restaurants at year end (no.) 80 80 78 2 # 80 80 78 2 # Revenue ($m) 351.3 – 351.3 312.3 12.5%
Slide 42: Taco Bell Results Summary
TACO BELL RESULTS SUMMARY POST AASB 16 PRE AASB 16 FY26 CHANGE FY26 CHANGE FY26 FY26 FY25 FY26 FY26 FY25 NON-TRADING NON-TRADING STATUTORY UNDERLYING UNDERLYING STATUTORY UNDERLYING UNDERLYING ITEMS ITEMS Restaurants at year end (no.) – – 27 (27) $ – – 27 (27) $ Revenue ($m) 47.7 – 47.7 53.0 (10.0)%
Slide 43: FY26 Non-Trading Items Summary
FY26 NON-TRADING ITEMS SUMMARY POST AASB 16 PRE AASB 16 EBITDA EBIT NPAT EBITDA EBIT NPAT ($m) KFC Australia - restaurant impairment – 3.9 2.7 – 0.9 0.6 KFC Germany impairment - previously impaired restaurants – 0.3 0.2 – 0.1 – KFC Netherlands impairment - previously impaired restaurants – 4.6 4.6 –
Slide 44: Contacts and Disclaimer
Andreas Lundberg Max Hewett Fortitude IR Patterson Advisory +61 457 650 482 +61 432 332 215 andreas.lundberg@fortitudeir.com.au mhewett@pattersonadvisory.com.au Steve Loxton Fortitude IR +61 412 595 133 steve.loxton@fortitudeir.com.au DISCLAIMER Collins Foods Limited ACN 151 420 781 (CKF) | Level 3,