Americana Restaurants International Plc · ADX:AMR
Americana Restaurants International — FY2024 Earnings Presentation
30 slides from Americana Restaurants International's earnings presentation, Feb 13, 2025
Slide 1: FY24 Results Earnings Presentation
EARNINGS PRESENTATION FY24 RESULTS GREAT PEOPLE, GREAT FOOD, GREAT COMPANY Fe bru a ry 2 0 2 5 0 Americana Confidential
Slide 2: Disclaimer
Disclaimer Cautionary statement regarding forward looking information This presentation includes statements that are, or may be deemed to be, "forward looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "e
Slide 3: Agenda & Presenters
AGENDA & PRESENTERS AMARPAL SANDHU 01 Business Updates CHIEF EXECUTIVE OFFICER 02 Financial Review HARSH BANSAL CHIEF FINANCIAL OFFICER & CHIEF GROWTH OFFICER 03 The Way Forward SONIKA SAHNI HEAD OF INVESTOR RELATIONS 04 Appendix 2 Americana Confidential
Slide 4: Business Updates
BUSINESS UPDATES 3 Americana Confidential
Slide 5: 2024 – Navigating challenges with resilience, focus and purpose
2024 – Navigating challenges with resilience, focus and purpose 2024 performance metrics Sales recovery Enhanced market presence ✓ ✓ 14.1% growth YoY (Q4 24 vs Q4 23) ✓ 6.1% growth QoQ (Q4 24 vs Q3 24) ✓ ✓ Pizza Hut Oman business acquisition; LOI signed in Q4, completed Jan 2025 ✓ Peet’s Coffee debu
Slide 6: Ongoing focus on elevating customer experience and community engagement
Ongoing focus on elevating customer experience as well as enhanced community engagement efforts Year-round efforts on business recovery, digital assets expansion, and community engagement Affordability by offering limited time offers and value meals Product innovation across Power brands kk Driving
Slide 7: FY24 Performance dashboard
FY24 Performance dashboard Restaurant Portfolio Revenues $2,196.8m LfL 2,590 stores (vs. 2023A) (vs. 2023A) +213 gross new restaurants added (9.0%) decline (12.5%) decline +155 net new restaurants added Adj. EBITDA $484.3m Net Profit $158.8m Capex $115.3m (vs. 2023A) (vs. 2023A) 5.2% of revenue (12.
Slide 8: 155 net new stores added in FY24
155 net new stores added in FY 24 Restaurant portfolio evolution (1 Jan 24 – 31 Dec 24) Restaurant openings (2019A – 2024A) No. of restaurants Impacted by regional geopolitical situation 213 (58) (2) 67 (33) 110 173 252 (16) 2,590 155 30 2,435 183 (40) 300 220 213 164 116 61 1 Jan 24 Gross Openings
Slide 9: Financial Review
FINANCIAL REVIEW 8 Americana Confidential
Slide 10: Double digit revenue growth in Q4 24; supported by LFL growth and NSOs
Double digit revenue growth in Q4 24; supported by LFL growth and NSOs Revenue bridge (FY 23 to FY 24) Revenue bridge (Q4 23 to Q4 24) $m $m (9.0%) 179 2,413 2,197 14.1% (290) (65) (38) (2) 61 589 39 (13) (7) (6) 516 3 2023A NSO LFL FX Impact 3 Closures Others 4 2024A Q4 23 NSO LFL FX Impact Closure
Slide 11: Higher ADS in Q4 24, driven by business recovery and the base effect
Higher ADS in Q4 24, driven by business recovery and the base effect Continued business recovery which started in Q3 24 Impact of EID shift Ramadan from Jul to Impact of crisis Days Shift Jun 250 200 ADS / store 150 (2023-24)1 100 (2022-23)1 50 0 Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Slide 12: Strategic initiatives drive Q4 24 recovery across brands
Strategic initiatives drive Q4 24 recovery across brands Revenues by Power Brands $m 9 months (Jan to Sept)1 4th quarter1 Full year1 2023 1,172 307 1,479 2024 971 (17.2%) (21.1%) 355 15.6% 12.4% 1,325 (10.4%) (14.0%) 2023 316 80 395 2024 269 (14.9%) (17.8%) 98 23.0% 21.7% 367 (7.2%) (9.8%) 2023 218
Slide 13: Higher contribution from home delivery due to evolving consumer preferences
Higher contribution from home delivery due to evolving consumer preferences and increased focus towards digital channels Revenue mix Channel mix $m $m 2023A1 2024A 2,413 (9.0%) 2,197 3% 2% 8% 1% 10% 21% 9% 17% 13 (1%) 146 (6%) 10 (<1%) 21% 133 (6%) 39% 24% 2,254 44% (93%) 2,054 (94%) Dine-in Takeawa
Slide 14: Lower cost of inventory supporting margins
Lower cost of inventory supporting margins; driven by favorable commodity trends and procurement initiatives, despite value offerings and discounts Cost of inventory1 evolution % FY 23 vs FY 22 FY 24 vs FY 23 Q1 24 vs Q1 23 Q2 24 vs Q2 23 Q3 24 vs Q3 23 Q4 24 vs Q4 23 Change2 % (0.9%) (1.9%) (2.9%)
Slide 15: Double digit growth in margins in Q4 24; robust full year margins
Double digit growth in margins registered in Q4 24; robust full year margins despite revenue decline Profitability Period 9 months (Jan-Sept)1 4th quarter1 Full year1 4-wall EBITDA 2023 567 29.9% 147 28.6% 714 29.6% ($m) 2024 464 28.9% (18.1%) 171 29.0% 16.1% 635 28.9% (11.0%) Adj. EBITDA 2023 447 2
Slide 16: Net income impacted by revenue decline, depreciation, impairment and UAE tax
Net income impacted by revenue decline, higher depreciation charges due to NSOs, impairment charges and implementation of UAE corporate tax Net income bridge (2023 to 2024) $m 10.8% 7.2% (353bps) Margin Margin Impact due to lower 259.5 10.2 1.7 4.3 revenue Largely driven by NSOs Driven by UAE Corpor
Slide 17: Portfolio level paybacks at 3.1 years
Portfolio level paybacks at 3.1 years; impacted due to business performance Key metrics by restaurants1 New restaurant openings by brands New Avg. Capex / new Brand Restaurants Payback (years) restaurant ($k) openings 10% 167 485 2.2 10% 32% 147 136 >5 years 102 309 3.0 20% 51 415 4.2 28% Others2 52
Slide 18: Continued negative NWC and prudent Capex deployment
Continued negative NWC and prudent Capex deployment Net Working Capital Gross Capex $m $m (9.2%)1 (8.9%)1 7.0% 5.2% (222) (195) 300 213 109 110 156 134 168 (487) (440) 115 31 Dec 2023 31 Dec 2024 2023 2024 Payables Receivables Inventory Gross capex No. of new restaurants opened NWC NWC % of revenues
Slide 19: The Way Forward
THE WAY FORWARD 18 Americana Confidential
Slide 20: 2025 guidance
2025 guidance Revenue ✓ Continued focus on transactions ✓ Organic and Inorganic avenues for Growth recovery recovery and average check growth long term platform development ✓ Continue to maintain value ✓ 150 – 160 net NSO rollout in 2025; leadership NSO continued expansion in the UAE, KSA, Innovatio
Slide 21: Concluding Remarks and Q&A
CONCLUDING REMARKS AND Q&A 20 Americana Confidential
Slide 22: Appendix
APPENDIX 21 Americana Confidential
Slide 23: Acquisition of Pizza Hut Oman Business
Acquisition of Pizza Hut Oman Business The acquisition accelerates our growth trajectory by expanding our portfolio with a new brand in Oman ✓ Strategic fit for Americana and aligns with our M&A framework Strategic fit ✓ Helps consolidating Pizza Hut brand in the region and grow our footprint ✓ Oper
Slide 24: Changes in the corporate income tax
Changes in the corporate income tax Tax impact post Pillar Two Applicability to Americana Country Current tax rate announcement Restaurants UAE 9% 15% 15% 2.5% (1) (Effective tax rate Saudi Arabia - 2.5% (1) 15% - 20%) Kuwait - 15% 15% Bahrain - 15% 15% Oman 15% 15% 15% Qatar 10% 15% 15% 23 1. 2.5%
Slide 25: Portfolio evolution – FY24
Portfolio evolution – FY 24 No. of restaurants – by country and brands Openings & closures – FY 24 No. of restaurants – by brand/ category Kazakhstan 128 Iraq 33 76 Lebanon 17 Qatar 109 Jordan 63 Morocco 45 42 40 Kuwait 262 Bahrain 78 30 25 UAE 605 14 16 11 8 7 - 21 Egypt 453 Oman 63 KFC Pizza Hut H
Slide 26: Store closures – FY24
Store closures – FY 24 Store closures in 2024 Brand portfolio Closures % of total stores1 FY 24 Power brands 40 1.7% Growth / Niche Brands2 16 6.0% Others 23 66.7% Total 58 2.2% Source: Company information 1. Calculated as store closures during FY 24 divided by total stores per category as of 31 Dec
Slide 27: Free cash flows
Free cash flows Movement in Cash & Cash Equivalents Adj. Free Cash Flow (FCF) $m $m Conversion % 52.1% 34.8% 92 (80) 183 35 95 551 540 484 433 (140) (104) (166) (113) (21) (13) (27) (16) (17) (308) (409) (200) (212) (7) 2023A 2024A 2023A 2024A Net Cash From Operating Activities Net Cash From Investi
Slide 28: EBITDA & Adj. EBITDA reconciliation – 2023A and 2024A
EBITDA & Adj. EBITDA reconciliation – 2023A and 2024A Post IFRS-16 basis $k 2023A 2024A Net profit for the period 262,331 151,404 Income tax, zakat 13,041 20,727 Finance cost (net) excluding finance costs on lease liabilities (10,923) (12,642) Depreciation and amortization (excluding depreciation re
Slide 29: Key definitions
Key definitions • Adjusted EBITDA: • Net capex: Adjusted EBITDA post IFRS-16 is defined as Net profit for the year plus finance cost Defined as Gross capex less proceeds from sale of property and equipment. Gross (net), plus income tax and zakat, plus depreciation and amortisation expenses, capex de
Slide 30: Thank You
THANK YOU Investor.Relations@americanarestaurants.com 29 Americana Confidential
Americana Restaurants International — FY2024 Earnings Presentation on 6ix