Amrest Holdings Se · GPW:EAT
Amrest — Q1 2025 Earnings Presentation
32 slides from Amrest's earnings presentation, May 9, 2025
Slide 1: Investors Presentation Q1'25 results presentation
Investors Presentation Q1’25 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 2,096 22 brands restaurants countries 47% of the portfolio AmRest is a leading European listed Fast casual restaurants restaurant operator, 18% of the portfolio 5 174 664 master franchiser 7 3 242 and operator of 25 so
Slide 3: Q1'25 Highlights
3 Q1’25 Highlights Healthy levels of revenue and ordinary operating results growth. Revenues Adjusted EBITDA* EUR 620.2m EUR 87.8m +4.7% growth vs. last year +6.5% growth vs. last year EBIT Leverage EUR 13.0m 2.0x 2.1% EBIT margin lower end of the target New restaurants Strategic changes +15 gross o
Slide 4: Commercial focus on value: Quick service restaurants and coffee
4 Commercial focus on value Quick service restaurants and coffee Many new products, even more diverse flavors Premium chicken offer Thrives with new flavors
Slide 5: Commercial focus on value: Fast casual and casual dining
5 Commercial focus on value Fast casual and casual dining Pizza festival return Spring freshness Elevates the brand New premium recipes with new image
Slide 6: Strong sales support a steady growth in revenue per store
6 Strong sales support a steady growth in revenue per store Q1’25 revenues amounted to EUR 620.2 million, up 4.7% compared to Q1’24. Continues, steady growth in the number of own restaurants and the sales per unit. Total AmRest sales (EURm) 12 months trailing average sales per equity store + 4.7% +
Slide 7: Digital capabilities as driver of growth
7 Digital capabilities as driver of growth The Group's progress in digitization continues to support activity levels. Total AmRest & dine-in sales evolution (EURm) Digital sales 620 62% 57% 51% <20% 2019 2020 2021 2022 2023 2024 2025 2019 2023 2024 Q1'25 (Pre-Covid) (Pre-Covid) Amrest Dine in Sales
Slide 8: Restaurant portfolio
8 Restaurant portfolio Underlying restaurant growth combined with strategic adjustments on non-performing business. 3,500 3,500 Total3,000 Nº 3,000 restaurants 2,318 2,414 2,313 2,163 2,099 2,096 2,500 2,500Non-performing businesses /strategic adjustments: 2,000 2,000 • PH Russia (59 restaurants, Ma
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 10: Q1'25 highlights and current trading
10 Q1’25 highlights and current trading Sales growth € 620.2m +4.7% 100.9 Sales Sales growth SSS Index € 592.6m in Q1´24 vs. Q1´24 vs. Q1´24 Profitability € 87.8m € 81.7m € 34.3m Adjusted EBITDA EBITDA EBITDA Non IFRS16 + 6.5% vs. Q1’24 € 81.1m in Q1’24 € 38.1m in Q1’24 Current trading CAPEX 101.5 €
Slide 11: Q1'25 Revenue highlights
11 Q1’25 Revenue highlights AmRest sales momentum continues with heathy levels of growth. Group's quarterly revenue hit a new all-time high for the first quarters at EUR 620.2 million Quarterly revenue evolution (EURm) Quarterly SSS vs LY 620.2 101% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4
Slide 12: EBITDA margin expansion
12 EBITDA margin expansion Adjusted EBITDA amounted to EUR 87.8 EBITDA amounted to EUR 81.7 million in million in 2024, 6.5% higher than in 2024. Q1 2025, up 0.7% compared to 2024. Adjusted EBITDA [EURm] & Adj. EBITDA Margin EBITDA [EURm] & EBITDA Margin 150 14.8% 16.0% 150 14.7% 16% 13.9% 14.2% 13.
Slide 13: EBIT margin expansion
13 EBIT margin expansion EBIT amounted to EUR 13.0 million in Q1´25 impacted by extraordinary results after the disposal of SCM stake and termination of the collaboration agreement between the parties. AmRest will conduct all supply chain management and product quality assurance services internally
Slide 14: Q1'25 P&L highlights
14 Q1’25 P&L highlights Reporting period Q1'25 Q1'24 Variation ❑ Net equity restaurant count increased by 56 units Restaurants 2,096 2,169 (73) during last 12 months. Equity restaurants 1,853 1,797 56 Franchise restaurants 243 372 (129) ❑ Number of franchise restaurants decreased, Revenue 620.2 592.
Slide 15: Q1'25 debt and cash evolution
15 Q1’25 debt and cash evolution * ❑ Leverage ratio at the lower end of the target, defined by the company of between 2.0x and 2.5x. ❑ Efficient level of liquidity, in line with the Group´s needs. Net financial debt** evolution & cash position 700.0 20.0 616.4 Liquidity and leverage 600.0 15.0 528.1
Slide 16: Q1'25 financial debt profile
16 Q1’25 financial debt profile Financial debt structure and maturity profile ❑ Stable and balanced funding profile Financial debt profile Financial debt maturity profile 68% 9% 3% 26% 74% 14% 13% 91% 97% 5% Short-Term Debt Bank Debt PLN EUR 2025 2026 2027 2028 Long-Term Debt Other Financial debt ex
Slide 17: AmRest, a diversified multinational company
17 AmRest, a diversified multinational company Business is distributed between three different geographical segments for analysis purposes. Breakdown of Sales, EBITDA and unit count for Q1’25 by segment: Sales by Segment EBITDA by Segment Number of units by Segment 4% 3% 4% 4% 31% 65% 37% 34% 59% 59
Slide 18: Segment breakdown | CEE
18 Segment breakdown | CEE 4 1,237 10 brands restaurants countries Revenues EUR 366.5m +9.3% vs. Q1’24 Quick service restaurants 664 61% of the portfolio 242 25 EBITDA EUR 62.4m 2 166 Fast casual restaurants 1 10 72 +6.1% vs. Q1’24 16% of the 27 portfolio 17.0% margin 28 -0.5 p.p. vs. Q1’24 23% of t
Slide 19: Segment breakdown | CEE
19 Segment breakdown | CEE ➢ Revenues reached EUR 366.5 million, with YoY growth of 9.3%. ➢ EBITDA at EUR 62.4 million growing at 6.1% YoY and margin reaching 17.0%. CEE sales [EURm] EBITDA [EURm] & EBITDA Margin Store count 24.1% +9.3% 20.0% 20.1% 17.5% 17.0% 390.9 389.6 94.2 368.8 366.5 78.3 73.8
Slide 20: Segment breakdown | WE
20 Segment breakdown | WE 5 777 11 brands restaurants countries Revenues Quick service restaurants EUR 209.5m 5 29% of -4.2% vs. Q1’24 174 portfolio 7 3 EBITDA Fast casual restaurants 23% of 202 11 EUR 29.5m portfolio +6.2% vs. Q1’24 2 14.1% margin Casual dining restaurants +1.4 p.p. vs. Q1’24 29% o
Slide 21: Segment breakdown | WE
21 Segment breakdown | WE ➢ Revenues reached EUR 209.5 million, a decrease of -4.2% compared to Q1’24. ➢ EBITDA reached EUR 29.5 million, 6.2% higher than in Q1’24, representing a margin of 14.1% (+1.4pp). WE sales [EURm] EBITDA [EURm] & EBITDA Margin Store count -4.2% 1 1 1 16.4% 14.7% 16.4% 14.1%
Slide 22: Segment breakdown | China
22 Segment breakdown | China 1 82 1 brand restaurants country Revenues EUR 21.9m +1.4% vs. Q1’24 Casual dining restaurants 100% of EBITDA portfolio EUR 4.0m 82 -1.3% vs. Q1’24 18.4% margin -0.5 p.p. vs. Q1’24
Slide 23: Segment breakdown | China
23 Segment breakdown | China ➢ Revenues reached EUR 21.9 million, showed a slow but promising growth of 1.4% compared to the same period in 2024. ➢ The EBITDA almost at the same level as in 2024, with EBITDA margin of 18.4%. Segment sales [EURm] EBITDA [EURm] & EBITDA Margin Store count +1.4% 25.1 2
Slide 24: Appendix
de APPENDIX
Slide 25: AmRest footprint
25 AmRest footprint Store count by country 8 2,096 22 brands restaurants countries Total 5 664 174 Poland 387 - 135 15 44 - 83 - 649 15 7 3 242 Czechia 136 - 15 - 33 - 58 - 242 - 25 2 Hungary 102 - 22 3 39 - 163 3 202 11 166 1 72 Romania 10 - 62 - 72 - 10 28 Spain 127 - - - 66 153 4 - - 2 197 155 2
Slide 26: Financial statement: Balance Sheet
26 Financial statement Balance Sheet Note 31 March 2025 31 Decem ber 2024 Equity Share capital 9 22.0 22.0 Reserves 9 172.3 170.8 Retained earnings 177.2 187.0 Translation reserve 9 (2.9) (7.2) Equity attributable to shareholders of the parent 368.6 372.6 Note 31 March 2025 31 Decem ber 2024 Non-con
Slide 27: Financial statement: Segment breakdown
27 Financial statement Segment breakdown 3 MONTHS ENDED 3 MONTHS ENDED 31 March 2025 31 March 2024 31 March 2025 31 March 2024 Amount % of sales Amount % of sales Amount % of sales Amount % of sales Revenue 620.2 100.0% 592.6 100.0% Adjusted EBITDA* 87.8 14.2% 82.4 13.9% Poland 193.3 31.2% 173.5 29.
Slide 28: Financial statement: EBITDA bridge
28 Financial statement EBITDA bridge 3 MONTHS ENDED 31 March 2025 31 March 2024 Amount % of sales Amount % of sales Profit/(loss) for the period (8.7) (1.4%) (2.1) (0.4%) + Finance costs 20.6 3.3% 22.3 3.8% – Finance income (4.1) (0.7%) (0.9) (0.2%) +/– Income tax expense 5.2 0.8% (0.7) (0.1%) + Dep
Slide 29: Financial statement: P&L
29 Financial statement P&L 3 MONTHS ENDED Note 31 March 2025 31 March 2024 Restaurant sales 581.6 556.5 Franchise and other sales 38.6 36.1 Total revenue 4 620.2 592.6 Restaurant expenses: Food and merchandise 6 (160.6) (154.9) Payroll and other employee benefits 6 (152.0) (147.4) Royalties 6 (29.4)
Slide 30: Shareholder structure and listing details
30 Restaurant portfolio Shareholder structure* Other Shareholders, Listing details PTE Allianz Polska SA, 18.43% 4.34% Warsaw (since 2005) Listing venues: Madrid (since 2018) FYNVEUR S.C.A.**; 5.29% ISIN: ES010537500 FCapital Dutch S.L.***, 67.05% Shares issued: 219.6m Nationale-Nederlanden PTE SA,
Slide 31: Glossary
31 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 32: 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