Krispy Kreme, Inc. · NASDAQ:DNUT
Krispy Kreme — Q1 2023 Earnings Presentation
12 slides from Krispy Kreme's earnings presentation, May 11, 2023
Slide 1: First Quarter 2023 Earnings
FIRST QUARTER 2023 EARNINGS May 11, 2023
Slide 2: Disclosures
DISCLOSURES Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. The words “believe,” “may,” “could,” “will,” “should,” “anticipate,” “estimate,” “expect,” “outlook,” “guidance,” “working towards” or similar
Slide 3: Our purpose is to enhance lives
aoe ee oan ee sre ge Oe ei sete reeset loreal Pica 88 pee ee oeower”® yee e °° Senet er: & oe. wie’ * eT dea a our purpose Is... ics rae 4 ENHANCE LIVES THAT IS KRISPY KREME we aspire to be... THE MOST SWEET T BRAND IN THE WORLD
Slide 4: Q1 2023 Earnings Highlights
Q1 2023 EARNINGS HIGHLIGHTS I’m proud of our performance in the first quarter that continued to demonstrate the strength of our omni- channel model, which allow us to meet consumer demand with premium, fresh doughnuts in a capital efficient manner. Our global Valentine’s Day and St. Patrick’s Day ca
Slide 5: Sales per Hub Growth Driven by Low-Capital DFD Doors
SALES PER HUB GROWTH DRIVEN BY LOW-CAPITAL DFD DOORS International Segment U.S. Fresh Doughnut Business Q1 2023 Q1 2023 DFD DFD 31% 22% In Shop & Ecommerce 11% In Shop & 60% Drive Thru Drive Thru 9% 67% Ecommerce TTM Sales per $9.8 TTM Sales per $4.3 $4.6 $9.0 Hub ($M)1 $6.2 Hub ($M)1 $3.6 1Q21 1 1Q
Slide 6: Significant Progress on US Krispy Kreme Business Since Investor Day
SIGNIFICANT PROGRESS ON US KRISPY KREME BUSINESS SINCE INVESTOR DAY Expand Increased Purchase Availability Frequency Accelerate DFD Expansion Improve Customer & Krispy Kremer Experience Fresh Doughnut Points of Access Enhanced Drive- Improve Digital 6,376 Hot light sampling Thru Experience Experienc
Slide 7: Significant Progress on US Krispy Kreme Business Continued
SIGNIFICANT PROGRESS ON US KRISPY KREME BUSINESS CONTINUED Drive Hub & Spoke Improve Capital Productivity Efficiency Improve Margins Reset The Network Premiumization & Adding higher Converted 13shops; Pricing through Enhanced Labor & Closed 16 shops; volume cabinets 3 planned Specialty Material Effi
Slide 8: Financial Outlook: 2023 Outlook Re-affirmed
2023 OUTLOOK RE-AFFIRMED Financial Outlook1 $1,650 million to $1,680 million $205 million to $215 million Net Revenue (growth of 8% to 10%, Adjusted EBITDA (growth of 8% to 13%, or or 9% to 11% in constant currency) 10% to 14% in constant currency) Organic Revenue (growth of 9% to 11%) $52 million -
Slide 9: Appendix
APPENDIX
Slide 10: 1Q 2023 Buzzworthy Holiday and LTO's Drove Strong Global Organic Growth
1Q 2023 BUZZWORTHY HOLIDAY AND LTO’S DROVE STRONG GLOBAL ORGANIC GROWTH Japan – Lotus Biscoff US, Various Hershey Valentine’s Day Thailand – Chinese New Year US St Patrick’s Day Mexico – Super Bowl UK – Spring Doughnuts US Reese’s Guatamala – Nutella filled Original Glaze CONFIDENTIAL 10
Slide 11: Pro-Forma 2022 US & Market Development Segments Adjusted for Canada
PRO-FORMA 2022 US & MARKET DEVELOPMENT SEGMENTS TO ADJUSTED FOR CANADA MOVING TO MARKET DEVELOPMENT IN 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Annual 2022 KK Canada revenue 5,208 5,795 5,779 6,093 22,875 KK Canada adjusted EBITDA 1,201 1,862 1,444 1,693 6,200 US 247,919 244,665 246,830 270,836 1,010,25
Slide 12: Globally Loved Brand with Significant Growth Opportunities
GLOBALLY LOVED BRAND WITH SIGNIFICANT GROWTH OPPORTUNITIES #1 Most Loved Sweet Treat Brand in US, UK, Australia, Thailand & Turkey1 32 Countries served 99% Global brand awareness2 ~50% System-wide sales generated Internationally3 Singapore Canada >1.6B Doughnuts sold in 2022 >35B Media impressions i