Guzman Y Gomez Ltd. · ASX:GYG
Guzman Y Gomez — H1 FY2025 Earnings Presentation
29 slides from Guzman Y Gomez's earnings presentation, Feb 21, 2025
Slide 1: Guzman y Gomez
GUZMAN Y GOMEZ"
Slide 2: Vision, Mission and Values
VISION, MISSION AND VALUES 2 Guzman y Gomez Limited | 1H25 Results
Slide 3: Global Restaurant Network
GLOBAL RESTAURANT NETWORK Corporate & Franchise Master Franchise 20 210 Master Franchise 74 CORPORATE 136 FRANCHISE 5 Corporate 4 Note: Restaurant count as at 31 December 2024. 3 Guzman y Gomez Limited | 1H25 Results
Slide 4: Track Record of Growth
TRACK RECORD OF GROWTH Global restaurant network Global network sales1 300 1,300 1,100 1,067 250 239 220 960 194 900 Number of restaurants (#) 200 15% CAGR 759 Network sales ($m) 169 158 28% 700 CAGR 150 138 575 127 116 500 448 100 93 76 306 62 300 254 207 50 166 137 101 100 0 FY15 FY16 FY17 FY18 FY
Slide 5: 1H25 Key Operational Highlights
1H25 KEY OPERATIONAL HIGHLIGHTS 1 2 3 9.4% 16 50% Comp Sales Growth New restaurant openings Franchisee ROI (Australia Segment) in Australia 4 5 6 Delivery outperformance Impactful marketing Value menu items campaigns 5 Guzman y Gomez Limited | 1H25 Results
Slide 6: 1H25 Financial Highlights
1H25 FINANCIAL HIGHLIGHTS Results reflect strong sales performance and solid operating execution 2025 half year financial results 1H25 1H24 Change vs $ million Pro forma¹,² PCP Network sales 577.9 470.7 22.8% Revenue 212.4 167.3 27.0% EBITDA 31.6 24.6 28.3% PBT 15.2 10.0 51.4% NPAT 7.3 3.8 91.2% 1.
Slide 7: Segment Performance
SEGMENT PERFORMANCE Performance underpinned by strong sales growth in the Australia segment Segment result 1H25 1H24 Change vs $ million Pro forma¹ PCP Australia Segment² Underlying EBITDA 31.8 23.1 37.3% US Segment Underlying EBITDA (5.0) (3.1) 62.0% Segment Underlying EBITDA³ 26.8 20.0 33.5% Share
Slide 8: Australia Segment Network Sales
AUSTRALIA SEGMENT NETWORK SALES Strong sales growth across Australia, Singapore and Japan, underpinned by continued Comp Sales Growth Australia segment highlights 1H25 1H24 Change vs $ million PCP Network sales Australia 538.2 438.6 22.7% Singapore 30.2 22.2 35.7% Japan 4.6 4.2 8.6% Network sales 57
Slide 9: Australian Sales Performance
AUSTRALIAN SALES PERFORMANCE Sales growth continued to be underpinned by progress across all sales drivers 1 – Demonstrating restaurant capacity with peak hourly sales record of $10.5k Restaurant – 10 largest restaurants (by AUV) continued to participate in the Comp Sales Growth achieved across the
Slide 10: New Restaurant Openings
NEW RESTAURANT OPENINGS Restaurant pipeline continues to strengthen in Australia WARRAWONG UMINA 103 Sites in pipeline¹ as at 31 December 2024 JULY 20 24 AUG UST 20 24 32 MORNINGTON ALBERT LANE Restaurants approved in 1H25 16 New restaurants opened in 1H25 NO VE MBE R 20 24 DECEMBE R 20 24 1. Refers
Slide 11: Australian Restaurant Margin
AUSTRALIAN RESTAURANT MARGIN The first half of FY25 has positioned GYG for network margin expansion over the long term 1 Operating – Strong Comp Sales Growth in half, driving operating leverage of fixed restaurant costs and certain leverage components of labour 2 Format – Shift in mix toward higher
Slide 12: Australia Segment Performance
AUSTRALIA SEGMENT PERFORMANCE Strong network sales contributed to earnings growth through corporate restaurant margin expansion and increased franchise revenues Australia segment performance ($m) 1H25 1H24 Change vs $ million PCP Network sales 573.0 465.1 23.2% Corporate restaurant sales 176.1 136.2
Slide 13: Restaurant Health Metrics
RESTAURANT HEALTH METRICS Robust health metrics across the network, with strip and other format restaurant margin reflecting higher delivery sales 1H25 Median restaurant economics1 vs PCP Median restaurant Drive Thru Strip Other Restaurants (#) PCP change (#) 104 66 40 +18 +10 (1) Average unit volum
Slide 14: Franchisee Health Metrics
FRANCHISEE HEALTH METRICS Compelling franchisee ROIs and AUVs demonstrate commitment to creating shared value for all stakeholders 1H25 Median franchisee performance 50% Franchisee ROI¹ $5.4M Franchise AUV 20.2% Franchise restaurant margin² 4 FRANCHISEE Franchisees on royalty relief S 1. Franchisee
Slide 15: US Segment Performance
US SEGMENT PERFORMANCE Demonstrating proof of concept in the US remains a priority for GYG and focus remains on driving sales through expanding brand awareness and improving the guest experience US segment performance 1H25 1H24 Change vs $ million PCP Network sales 4.9 5.6 (12.7%) Corporate restaura
Slide 16: Cash Flows
CASH FLOWS Strong conversion of earnings into cash flows during the half Cash flow statement $ million 1H25 1H24 NPAT 7.3 3.8¹ D&A 19.1 15.9 Net finance (income) / costs (2.7) 4.1 Change in operating assets and liabilities (9.5) (9.8) Other² 5.0 7.5 Operating cash flows 19.2 21.5 Funds drawn from /
Slide 17: Capital Expenditure
CAPITAL EXPENDITURE Capital expenditure primarily driven by new restaurant openings Capital expenditure overview $ million 1H25 1H24 Restaurants – Australia (15.2) (12.6) Capital expenditure driven primarily by new restaurant openings, refurbishments and Other additions – Australia (3.2) (0.2) new r
Slide 18: Balance Sheet
BALANCE SHEET GYG’s strong financial position, supported by a healthy balance sheet, enables continued restaurant network expansion Balance sheet overview $ million 1H25 FY24 Cash and term deposits 274.5 294.5 Trade and other receivables 19.1 26.5 Inventories 4.2 2.8 Finance lease receivable 149.6 1
Slide 19: Guidance Framework (Australia Segment)
GUIDANCE FRAMEWORK (AUSTRALIA SEGMENT) GYG expects to exceed its FY25 NPAT prospectus forecast, supported by the drivers set out in the framework below UPDATED GUIDANCE FY23 FY24 FY25F Target Gross openings 22 25 31 40+ Franchise : Corporate 17F 5C 14F 11C 18F 13C ~60%F ~40%C Drive thru : Strip 19DT
Slide 20: Trading Update and Outlook
TRADING UPDATE AND OUTLOOK • In the first 7 weeks of the half, Australia segment Comp Sales Growth has been above expectations at 12.2%. • This has been driven by a continuation of sales drivers from the first half and a lower trading momentum in the prior corresponding period. GYG’s strategic prior
Slide 21: Q&A
Q&A 21 Guzman y Gomez Limited | 1H25 Results
Slide 22: Appendix
APPE N D IX 22 Guzman y Gomez Limited | 1H25 Results
Slide 23: Glossary
GLOSSARY Term Description AASB means the Australian Accounting Standards Board. amortisation of reacquired rights due to the buyback of franchise restaurants from franchisees. These are typically amortised over the remaining Amortisation of reacquired rights term of the lease. Average Unit Volume or
Slide 24: Glossary
GLOSSARY Term Description is calculated as the aggregate sales of all or a specified group of GYG restaurants over a specified time period, including restaurants owned and Network sales operated by franchisees and master franchisees unless otherwise specified. Network sales relates to the total valu
Slide 25: Quarterly Performance
QUARTERLY PERFORMANCE Continuation in sales momentum driven by delivery outperformance, impactful marketing and strong demand for value menu items Quarterly result Q1 Q2 1H $ million FY25 FY25 FY25 Australia 260.2 278.1 538.2 Singapore 13.6 16.6 30.2 Japan 2.5 2.1 4.6 US 2.6 2.4 4.9 Network sales 27
Slide 26: Strong Australian Comp Sales Growth
STRONG AUSTRALIAN COMP SALES GROWTH GYG expects to continue to drive growth in Comp Sales through daypart expansion, investment in marketing to grow brand awareness, menu innovation and continued improvement of the guest experience 1,200 Daypart 1,000 8.4% Comp Daypart 15.0% 17% Comp 800 32% 7% Dayp
Slide 27: Operating Segments
OPERATING SEGMENTS Australia US Group 1H25 1H24 1H25 1H24 1H25 1H24 $ million Pro forma Pro forma Pro forma Corporate restaurant sales 176.1 136.2 3.2 5.6 179.3 141.8 Corporate Restaurant Margin 31.7 23.9 (1.3) (0.5) 30.4 23.4 Franchise and other revenue 38.2 29.5 0.1 - 38.3 29.5 General and adminis
Slide 28: Key Operating and Financial Metrics
KEY OPERATING AND FINANCIAL METRICS $ million 1H25 1H24 Key operating metrics - Group Network sales Australia 538.2 438.6 Singapore 30.2 22.2 Japan 4.6 4.2 US 4.9 5.6 Global network sales 577.9 470.7 Key operating metrics - Australia Number of corporate restaurants at period end 74 62 Number of fran
Slide 29: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation is given on behalf of Guzman y Gomez Limited (GYG or Company) (ASX: GYG) (ACN 125 554 743). By accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this Important Notice and Disclaimer. Summary inform