AmRest Holdings SE · GPW:EAT
AmRest — Q1 2018 Earnings Presentation
21 slides from AmRest's earnings presentation, May 15, 2018
Slide 1: AmRest Holdings SE Q1 2018 Presentation for Investors
AmRest Holdings SE Q1 2018 Presentation for Investors May 15th, 2018
Slide 2: Teleconference details
Teleconference details • AmRest Q1 2018 results are included in the Q1 2018 Financial Report which is available to download from Investor Relations section at: http://www.amrest.eu • The recording of this Teleconference will be available at our website within 24 hours. AmRest participants: Henry Fou
Slide 3: Executive summary
Executive summary • Solid business growth continued. SALES +31% and EBITDA +24% vs LY • Core business driving the results (24% EBITDA growth delivered) • 2x3 Vision on track: • Accelerated organic growth (42 new restaurants YTD). 300+ openings for 2018 • Continued integration of M&As • Significant p
Slide 4: Our restaurants
Our restaurants Total: 1 662 83 China: 49
Slide 5: New restaurant openings
New restaurant openings* • 21 stores opened in Q1 2018: 7 CE, 4 Russia and 10 WE (2 TAG in Spain, 1 KFC in France, 1 KFC in Germany, 3 SBX in Germany, 3 PH in Germany); • 42 stores opened in 2018 YTD (till May 14th, 2018): 14 CE, 11 Russia, 15 WE (3 TAG in Spain, 2 KFC in France, 1 KFC in Germany, 2
Slide 6: Financial highlights Q1 2018
Financial highlights Q1 2018 • Sales at EUR 347m (+31% vs LY) • Central Europe EUR 164m (+21%) • Russia EUR 39m (+23%) • Western Europe EUR 125m (+54%) • China EUR 15m (+10%) • EBITDA at EUR 34m (+24.4% vs LY) • EBITDA margin at 9.7% (-0.5pp vs LY) • Net profit* at EUR 5m (+7.6% vs LY) • Net debt at
Slide 7: Continued growth in the number of restaurants
Continued growth in the number of restaurants* 4 47 4 45 54 54 301 300 4 32 45 22% 327 336 275 4 25 41 3 236 2 17 100 92 236 40 1 11 35 67 77 10 37 61 70 214 35 53 70 193 39 68 172 71 170 145 27 122 685 12 21 24 669 8 13 70 4 79 77 519 77 428 464 348 383 64 310 202 223 239 127 166 2006 2007 2008 200
Slide 8: Q1 2018 financials by segments
Q1 2018 financials by segments 20.7% 164 SALES (mEUR) 54.2% 136 30.2% 125 81 10.1% 23.1% 39 32 14 15 CE Russia Western Europe China Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Adjusted EBITDA 13.3% 12.8% 7.7% 11.2% 8.0% 9.3% 5.9% 5.3% margin 8
Slide 9: Q1 2018 financials – key figures
Q1 2018 financials – key figures mEUR Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 TTM [1] Sales 277.4 265.5 294.8 318.5 359.1 347.4 1 319.7 Sales growth [2] 28.8% 34.9% 31.9% 19.4% 29.4% 30.8% 27.7% Adjusted EBITDA [3] 38.5 28.0 38.4 49.2 46.5 35.7 169.8 Adjusted EBI TDA (%) 13.9% 10.6% 13.0% 15
Slide 10: Outlook
Outlook • Solid start of the year. Positive trends continued • Accelerated development pace. 300+ openings planned for 2018 • Focus on integration of acquired businesses • Expected short-term pressure on margins driven by M&A • Continued execution of our ”2x3 growth vision”, based of 3 pillars: • En
Slide 11: IR contact
IR contact Michał Serwatka michal.serwatka@amrest.eu tel. +48 71 3861 246 mobile: +48 519 191 246 Dorota Surowiec dorota.surowiec@amrest.eu tel. +48 71 3861 235 mobile: +48 519 191 235
Slide 12: Backup
Backup
Slide 13: AmRest strategy
AmRest strategy Leverage our WJM culture, international capability and superior brand portfolio to grow scalable, highly profitable restaurants globally BRAND Superior brand portfolio PEOPLE WJM culture Scalable and highly profitable restaurants (20% ROIC) SCALE International capability Our unique p
Slide 14: Superior BRAND portfolio (franchised brands)
Superior BRAND portfolio Franchised brands • Global #1 in chicken category • Fresh chicken, genuine food, craveable taste • Innovative design and order system • Delivery platform and mobile restaurants 685 restaurants 12 countries AmRest since 1994 • Global #1 in pizza category • Handmade pizza… and
Slide 15: Superior BRAND portfolio (franchised brands)
Superior BRAND portfolio Franchised brands • Global #1 in coffee category • Personalized customer service • Fresh food offer, locally developed • Starbucks Reserve • Substantial white space in CE 300 coffee shops 7 countries AmRest since 2008 • Global #2 in burger category • Better burger – 100% bee
Slide 16: Superior BRAND portfolio (proprietary brands)
Superior BRAND portfolio Proprietary brands • High-end casual dining concept • American cuisine with Asian touch • Fresh, craveable food served in a relaxed atmosphere 47 restaurants • Distinctive restaurant concept poised for China, Spain, Poland expansion AmRest since 2013 • AUV leader in our port
Slide 17: EAT factsheet
EAT factsheet Ticker EAT (AmRest) Listing WSE FCapital Dutch B.V. 56,38%[2] Free float 24.44% Unicredit, mBank, Wood&Co, Trigon, Raiffeisen Centrobank AG, Analyst Free float Nationale- Noble Securities, IPOPEMA, ERSTE, Coverage 24,44% Nederlanden DM PKO BP, DM Banku BPS, BM OFE Bank BGŻ Gosha 5,21%
Slide 18: Segment reporting
Segment reporting Q1 2018 Q1 2017 m EUR Share Margin m EUR Share Margin Sales 347.4 265.5 Poland 95.3 27.4% 83.2 31.3% Czech Republic 37.5 10.8% 29.0 10.9% Hungary 19.9 5.7% 14.9 5.6% Other CE 10.9 3.1% 8.4 3.2% Total CE 163.6 47.1% 135.5 51.0% Russia 39.4 11.3% 32.0 12.1% Spain 55.2 15.9% 48.7 18.3
Slide 19: Consolidated P&L
Consolidated P&L [mEUR] Q1 2018 % of sales Q1 2017 % of sales Restaurant sales 328.2 250.6 Franchise and other sales 19.2 14.9 Total sales 347.4 265.5 Company operated restaurant expenses: Food and material -95.4 -27.5% -74.9 -28.2% Payroll and employee benefits -85.8 -24.7% -63.9 -24.0% Royalties -
Slide 20: Net profit and adjusted EBITDA reconciliation
Net profit and adjusted EBITDA reconciliation [mEUR] Q1 2018 % of sales Q1 2017 % of sales Q1 vs Q1 % change Restaurant sales 328.1 94.5% 250.6 94.4% 77.6 31.0% Franchise and other sales 19.2 5.5% 14.9 5.6% 4.3 28.7% Total sales 347.4 265.5 81.9 30.8% Net Profit for the period 4.5 1.3% 4.9 1.9% -0.5
Slide 21: AmRest portfolio
AmRest portfolio Countries Brands 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 14.05.2018 Poland 131 139 158 188 206 256 279 299 320 346 389 454 461 KFC 79 85 94 110 121 150 163 179 191 206 222 243 246 BK 4 9 17 19 27 28 27 32 33 36 41 41 SBX 3 9 21 32 35 38 40 52 64 64 PH 52 50 55 58