Spur Corporation Limited · JSE:SUR
Spur — H1 2024 Earnings Presentation
136 slides from Spur's earnings presentation, Feb 29, 2024
Slide 1: F2024 H1 (six months to December 2023)
F2024 H1 (six months to December 2023)
Slide 2: F2024 H1 results, 29 February 2024, Century City
F2024 H1 29 February 2024 Century City F2024 H1 (six months to December 2023)
Slide 3: Agenda
AGENDA 1 2 3 4 Trading Overview Financial Review The Way Forward Q&A F2024 H1 (six months to December 2023)
Slide 4: F24 H1 The Period at a Glance
F24H1 THE PERIOD AT A GLANCE Group restaurant sales R5.4bn 10.5% Comparable Comparable Cash generated Revenue Profit before tax Headline earnings profit before tax headline earnings from operations 15.2% 13.9% 14.5% 15.4% 17.7% R100m 14.2%* 15.3%* 17.4%* Interim dividend: 95 cents# *excluding market
Slide 5: F24 H1 The Period at a Glance (excluding Doppio)
F24H1 THE PERIOD AT A GLANCE Group restaurant sales R5.4bn 10.5% 9.0%^ Comparable Comparable Cash generated Revenue Profit before tax Headline earnings profit before tax headline earnings from operations 15.2% 13.9% 14.5% 15.4% 17.7% R100m 13.5%^ 12.1%^ 14.5%^ 15.4% 17.7% R100m Interim dividend: 95
Slide 6: Agenda
AGENDA 1 2 3 4 Trading Overview Financial Review The Way Forward Q&A F2024 H1 (six months to December 2023)
Slide 7: Vision & Purpose
VISION & PURPOSE TOMER EXPERIEN US CE N C IO CX AT RM SFO FRA ING THE EX E D LOYEE EXPERIENC TRAN EA P NCHIS L ER DS IE BRAN NCE EE EXPERI EX FX FO D P O TH R GO E EM EG RE ATER NC IN E N O IX A V T I O IN V ESTOR EXPERIENCE N F2024 H1 (six months to December 2023)
Slide 8: Network Overview
Network Overview F2024 H1 (six months to December 2023)
Slide 9: Restaurant Count: Countries
RESTAURANT COUNT: COUNTRIES Saudi Arabia 2 India 3 International 92 Nigeria 8 Ghana 3 Kenya 7 DRC 1 Zambia 27 Mauritius 14 Botswana 5 Zimbabwe 4 Namibia 11 Australia 2 Eswatini 5 South Africa 595 RESTAURANTS 687 37 restaurants were added to the group’s restaurant count with the acquisition of the Do
Slide 10: Restaurant Count: Brand
RESTAURANT COUNT: BRAND South Brand International Total Africa Restaurant count by brand Spur 305 30 335 Panarottis 82 36 118 John Dory’s 48 2 50 11% RocoMamas* 85 23 108 Spur 16% 49% Panarottis Speciality brands 75 1 76 John Dory's 7% The Hussar Grill 26 - 26 RocoMamas 17% Speciality brands Casa Be
Slide 11: R8 Network Development
R8 NETWORK DEVELOPMENT Restaurant Restaurant count Restaurant count count 31 December New restaurants Closed Revamps Relocations 30 June 2023 31 December 2023 2022 Spur 305 304 304 2 1 11 3 Panarottis 82 78 80 5 1 6 - John Dory's 48 42 44 6 - - 1 RocoMamas 85 85 88 1 1 6 1 Speciality brands 75 40 40
Slide 12: Our Franchisees
OUR FRANCHISEES: UPHOLDING THE RIGHT SENTIMENT IN THE FACE OF COST INCREASES F2024 H1 (six months to December 2023)
Slide 13: Our Customers
OUR CUSTOMERS: BUILDING LOYALTY DESPITE HOUSEHOLD INCOME CONSTRAINTS F2024 H1 (six months to December 2023)
Slide 14: 2 500 000+ Active Loyalty Club Members
2 500 000+ ACTIVE LOYALTY CLUB MEMBERS F2024 H1 (six months to December 2023)
Slide 15: Our Employees
OUR EMPLOYEES: SAFEGUARDING WELL-BEING AMID WORK LIFE PRESSURE AND LIFESTYLES CHANGES F2024 H1 (six months to December 2023)
Slide 16: Leading for the Greater Good
Leading for the Greater Good 1 2 3 4 5 Environmental Employee Societal Supply Compliant Franchise Sustainability Experience Impact Chain Influence Network 2024 2025+ B-BBEE 2023 Level 6 * 2022 Sustainable Future B-BBEE Transformation 2021 B-BBEE Level 7 Integration Transformation Level 8 Journey Acc
Slide 17: Trading Performance
Trading Performance F2024 H1 (six months to December 2023)
Slide 18: The Lull Pre-season
The Lull Pre- season F2024 H1 (six months to December 2023)
Slide 19: Turnover Trend: H1 2021-2023
TURNOVER TREND: H1: 2021-2023 Record Dec 2022 Record July 2022 KZN Unrest 2021 Jul Aug Sep Oct Nov Dec 2021 2022 2023 F2024 H1 (six months to December 2023)
Slide 20: A Record December 2023
A Record December 2023 F2024 H1 (six months to December 2023)
Slide 21: Brands Fast Facts: SA
BRANDS FAST FACTS: SA SA VK brands: 322 participating restaurants: Regional Split: Day Part Takeaway Turnover Turnover contribution Contribution: represents 14% of total sales: 1 Eastern Breakfast; Uber Eats; Cape; 11% 20% 2 6% KZN; 17% Dinner; 38% 3 Collect Inland; (Call / Click 56% / Walk-in); Wes
Slide 22: Restaurants: South Africa
RESTAURANTS: South Africa H1 F2024 H1 F2023 Turnover Turnover Brand No. of outlets No. of outlets % change R’000 R’000 Spur 3 340 033 305 3 036 944 304 10.0 Panarottis 469 602 82 426 708 80 10.1 John Dory’s 235 385 48 237 208 44 (0.8) RocoMamas 480 014 85 452 815 88 6.0 Speciality brands 347 476^ 75
Slide 23: Restaurants: International
RESTAURANTS: International H1 F2024 H1 F2023 Turnover No. of Turnover No. of % Location % change R’000 outlets R’000 outlets change* Australasia 24 001 2 23 828 2 6.4 1.3 India 5 000 3 4 742 3 5.4 0.4 Mauritius 111 081 14 104 470 14 6.3 (0.9) Middle East 11 560 2 10 590 2 9.2 1.3 Rest of Africa 362
Slide 24: Group Total Turnover
GROUP TOTAL TURNOVER Restaurant Turnover Like-on-like Franchised restaurant turnover H1 F2024 vs H1 H1 F2023 vs H1 H1 F2024 vs H1 % change F2023 F2022 F2023 Spur 10.0 33.6 8.7 Panarottis 10.1 28.5 8.1 John Dory’s (0.8) 19.2 (0.2) RocoMamas 6.0 14.6 7.0 Speciality brands 38.7 62.3 6.7 The Hussar Gril
Slide 25: Spur Strength
SPUR STRENGTH Growth of 10% Leader in Family Casual Dining Customer Loyalty 1.9m active family club members New Spur Chief and Restaurant Dining Experience Marketing Dominance Full Tummy Fund feed 950 children daily F2024 H1 (six months to December 2023)
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Slide 34: Amigo Spur, Vaal Mall
AMIGO SPUR, VAAL MALL Revamp: Pegasus Pilot F2024 H1 (six months to December 2023)
Slide 35: Missouri Spur, Key West
MISSOURI SPUR, KEY WEST Relocation F2024 H1 (six months to December 2023)
Slide 36: Sibaya Spur, Durban
SIBAYA SPUR, DURBAN New F2024 H1 (six months to December 2023)
Slide 37: Yurok, Phalaborwa
YUROK, PHALABORWA Revamp F2024 H1 (six months to December 2023)
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Slide 39: Spur Outdoor
SPUR OUTDOOR F2024 H1 (six months to December 2023)
Slide 40: Spur Outdoor
SPUR OUTDOOR F2024 H1 (six months to December 2023)
Slide 41: Spur Outdoor
SPUR OUTDOOR F2024 H1 (six months to December 2023)
Slide 42: Spur Outdoor
SPUR OUTDOOR F2024 H1 (six months to December 2023)
Slide 43: F2024 H1 (six months to December 2023)
F2024 H1 (six months to December 2023)
Slide 44: F2024 H1 (six months to December 2023)
F2024 H1 (six months to December 2023)
Slide 45: F2024 H1 (six months to December 2023)
F2024 H1 (six months to December 2023)
Slide 46: F2024 H1 (six months to December 2023)
F2024 H1 (six months to December 2023)
Slide 47: Ops Managers On-the-Go
OPS MANAGERS ON-THE-GO F2024 H1 (six months to December 2023)
Slide 48: Spur Kids Happy & Safe
SPUR KIDS HAPPY & SAFE 99% Restaurants now have Security Sensor Tags for Kids (we care for kid’s safety) Play World Attendees ‘kids with special needs’ training (diversity and inclusion) Play World Innovation (a range of new themes)
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Slide 51: Chatoga Spur, Kempton Park
CHATOGA SPUR, KEMPTON PARK F2024 H1 (six months to December 2023)
Slide 52: Thunder Ridge Spur, Centurion
THUNDER RIDGE SPUR, CENTURION F2024 H1 (six months to December 2023)
Slide 53: LL) EY
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Slide 54: Network Development in H1
NETWORK DEVELOPMENT IN H1 New Restaurants and Revamps in the current Spur Restaurant Concept (tan & black)
Slide 55: Buffalo Bay Spur, Pongola
BUFFALO BAY SPUR, PONGOLA F2024 H1 (six months to December 2023)
Slide 56: Falcon Creek Spur, Knysna
FALCON CREEK SPUR, KNYSNA F2024 H1 (six months to December 2023)
Slide 57: Yellow Wood Spur, Plettenburg Bay
YELLOW WOOD SPUR, PLETTENBURG BAY F2024 H1 (six months to December 2023)
Slide 58: Nevada Spur, Mtubatuba
NEVADA SPUR, MTUBATUBA F2024 H1 (six months to December 2023)
Slide 59: Oak Creek Spur, Parys
OAK CREEK SPUR, PARYS F2024 H1 (six months to December 2023)
Slide 60: Sabino Canyon Spur, Malmesbury
SABINO CANYON SPUR, MALMESBURY F2024 H1 (six months to December 2023)
Slide 61: Silver Cove Spur, Gqeberha
SILVER COVE SPUR, GQEBERHA F2024 H1 (six months to December 2023)
Slide 62: Utah Spur, Bothasig
UTAH SPUR, BOTHASIG F2024 H1 (six months to December 2023)
Slide 63: Watashi Spur, Bethlehem
WATASHI SPUR, BETHLEHEM F2024 H1 (six months to December 2023)
Slide 64: Spur Strength: Africa
SPUR STRENGTH: AFRICA 30 Spur Restaurants International Top countries Namibia = 7 Kenya = 5 Nigeria = 5 Zambia = 4
Slide 65: Buffalo Ridge Spur, Harare
BUFFALO RIDGE SPUR, HARARE F2024 H1 (six months to December 2023)
Slide 66: Buffalo Hills, Bulawayo
BUFFALO HILLS, BULAWAYO F2024 H1 (six months to December 2023)
Slide 67: Spur Steak Ranches Awards
SPUR STEAK RANCHES SPUR STEAK RANCHES SPUR STEAK RANCHES SPUR STEAK RANCHES Winner Winner Winner Winner Family Restaurants Best Kids Party Venue Best Family Restaurant Coolest Sit-down Restaurant & Steak Houses SPUR STEAK RANCHES SPUR STEAK RANCHES SPUR STEAK RANCHES SPUR STEAK RANCHES Winner Winner
Slide 68: Panarottis Performance
PANAROTTIS PERFORMANCE Repositioning & Rebranding leading the way 5 new restaurants in H1 and five on the way 6 revamps and 20 restaurants new look December Sales 19.8% up on PY 3rd place proveg Awards SA 36 Panarottis Pizza in Africa F2024 H1 (six months to December 2023)
Slide 69: Panarottis 'Togetherness'
PANAROTTIS ‘TOGETHERNESS’ F2024 H1 (six months to December 2023)
Slide 70: Panarottis Eastgate
PANAROTTIS EASTGATE F2024 H1 (six months to December 2023)
Slide 71: Panarottis Galleria
PANAROTTIS GALLERIA F2024 H1 (six months to December 2023)
Slide 72: West Coast Mall, Hermanus
WEST COAST MALL, HERMANUS F2024 H1 (six months to December 2023)
Slide 73: Panarottis Menlyn Park Centre
PANAROTTIS MENLYN PARK CENTRE F2024 H1 (six months to December 2023)
Slide 74: The Pavilion: Durban
THE PAVILION: DURBAN F2024 H1 (six months to December 2023)
Slide 75: Panarottis Springs
PANAROTTIS SPRINGS F2024 H1 (six months to December 2023)
Slide 76: Panarottis The Grove: Pretoria
PANAROTTIS THE GROVE: PRETORIA F2024 H1 (six months to December 2023)
Slide 77: Waddington, Zambia
WADDINGTON, ZAMBIA F2024 H1 (six months to December 2023)
Slide 78: Maseru, Lesotho
MASERU, LESOTHO F2024 H1 (six months to December 2023)
Slide 79: Panarottis Pizza Pasta Awards
PANAROTTIS PIZZA PASTA PANAROTTIS PIZZA PASTA Best Italian restaurant Best Italian Restaurant in our Dining Out category
Slide 80: RocoMamas Rocks On
ROCOMAMAS ROCKS ON Like on Like growth of 8% High turnover site opens in Highveld Mall Witbank (Black female franchisees) Limited Advertising funds invested in supersized outdoor advertising and social media influencers Fire Wings Challenge goes viral on Tik Tok Takeaway Sales 41% 23 Rocos Internati
Slide 81: RocoMamas Outdoor
ROCOMAMAS OUTDOOR ROCOWMLS we're not normal
Slide 82: RocoMamas Outdoor
ROCOMAMAS OUTDOOR we're not normal WE'RE NOT NORMAL 1c
Slide 83: The Greenery, Polokwane
THE GREENERY, POLOKWANE F2024 H1 (six months to December 2023)
Slide 84: Highveld Mall: Witbank
HIGHVELD MALL: WITBANK F2024 H1 (six months to December 2023)
Slide 85: Highlands Park, Zimbabwe
HIGHLANDS PARK, ZIMBABWE F2024 H1 (six months to December 2023)
Slide 86: Cork Corner, Zimbabwe
CORK CORNER, ZIMBABWE F2024 H1 (six months to December 2023)
Slide 87: RocoMamas Awards
RocoMamas RocoMamas RocoMamas RocoMamas Best Shakes Best Burgers Best Restaurant Best Burgers Sit Down for a Burger Best Burgers Sit Down Best Burgers Takeaway
Slide 88: John Dory's New Dawn
JOHN DORY’S NEW DAWN Improved operating margin and turnover momentum has begun Quality Menu Offering Sushi Wednesdays Win Sustainable Seafood Commitment (Norwegian Salmon just arrived) Active in ZERO waste initiatives Top Brand in new store growth F2024 H1 (six months to December 2023)
Slide 89: F2024 H1 (six months to December 2023)
F2024 H1 (six months to December 2023)
Slide 90: Growth Momentum
GROWTH MOMENTUM 1 8 Zevenwacht 3 Wilson’s Wharf Cavendish 9 4 Grand West Sun City: Square: CT 2 Entertainment 5 Fourways Three Rivers Centre Harvest 6 Place 7 Florida Road F2024 H1 (six months to December 2023)
Slide 91: Florida Road: Durban
FLORIDA ROAD: DURBAN F2024 H1 (six months to December 2023)
Slide 92: Fourways Mall: Johannesburg
FOURWAYS MALL: JOHANNESBURG F2024 H1 (six months to December 2023)
Slide 93: Grand West Casino: New JD Format
GRAND WEST CASINO: NEW JD FORMAT F2024 H1 (six months to December 2023)
Slide 94: Three Rivers: Vereeniging
THREE RIVERS: VEREENIGING F2024 H1 (six months to December 2023)
Slide 95: Wilson's Wharf: Durban
WILSON’S WHARF: DURBAN F2024 H1 (six months to December 2023)
Slide 96: Zevenwacht Mall: Cape Town
ZEVENWACHT MALL: CAPE TOWN F2024 H1 (six months to December 2023)
Slide 97: John Dory's Best Sushi Restaurant
John Dory's Best Sushi Restaurant
Slide 98: Speciality Up!
SPECIALITY UP! F2024 H1 (six months to December 2023)
Slide 99: Piza e Vino: Hartenbos
PIZA e VINO: HARTENBOS F2024 H1 (six months to December 2023)
Slide 100: New Doppio Zero: Knysna
New Doppio Zero: Knysna F2024 H1 (six months to December 2023)
Slide 101: Tygervalley: Concept
TYGERVALLEY: CONCEPT: (APRIL 24) F2024 H1 (six months to December 2023)
Slide 102: Hussar Grill Awards
Hussar Grill George The Hussar Grill Silverstar The Hussar Grill Mouille Point Best Steak Restaurant 2023 The Hussar Grill Worcester The Hussar Grill Kimberley Wine list - Gold award 2023
Slide 103: Casa Bella Awards
Casa Bella Casa Bella Silverstar Best Italian Restaurant Casa Bella Monte Casino Service Excellence award 2023
Slide 104: Agenda
Agenda 1 2 3 4 Trading Overview Financial Review The Way Forward Q&A F2024 H1 (six months to December 2023)
Slide 105: Financial Review
Financial Review F2024 H1 (six months to December 2023)
Slide 106: Income Statement
INCOME STATEMENT Unaudited H1 Unaudited H1 R’m % change F2024 F2023 Revenue 1 766.2 1 533.8 15.2 From franchised and company stores activities 422.3 342.2 23.5 From marketing and related activities 180.3 144.7 24.5 From outsourced distributor sales 1 163.6 1 046.9 11.1 Cost of sales (1 232.6) (1 079
Slide 107: Segmental Overview
SEGMENTAL OVERVIEW % of group revenue – % change in revenue % change in net profit % margin H1 % margin H1 H1 F2024 H1 F2024 vs H1 F2023 H1 F2024 vs H1 F2023 F2024 F2023 Franchise 13.3 9.8 12.3 84.2 82.4 Spur 9.4 9.4 10.9 88.3 87.2 Panarottis 1.2 9.5 11.8 72.2 70.7 John Dory’s 0.6 (0.3) 3.7 60.3 57.
Slide 108: Segment: SA Franchise – Spur
SEGMENT SA Franchise – Spur R’m R’m SA franchise revenue % change 9.8* SA franchise profit before tax % change 12.3* Spur revenue % change 9.4* Spur profit before tax % change 10.9* SA Spur profit before tax Total SA franchise profit before tax SA Spur revenue Total SA franchise revenue 250 250 234
Slide 109: Segment: SA Franchise – ex Spur
SEGMENT SA Franchise – ex Spur R’m Revenue R’m Profit before tax Panarottis % change 9.5* John Dory's % change (0.3)* Panarottis % change 11.8* John Dory's % change 3.7* RocoMamas % change 3.2* Speciality % change 43.9*ꟸ RocoMamas % change 12.4* Speciality % change 41.9*⁺ Panarottis revenue John Dor
Slide 110: Segment: Retail company stores
SEGMENT Retail company stores R’m R’m Revenue % change 47.4*⁺ Profit before tax % change 116.5*ꟸ Revenue 10,0 Profit before tax 70 60 61 7,4 50 Profit before tax (excluding 45 6,0 Modrockers) 7,4 40 42 35 4,5 12.1% 30 4,0 28 3,4 20 2,0 1,2 1,5 10 (0,5) (0,2) - H1 2022 H2 2022 H1 2023 H2 2023 H1 2024
Slide 111: Segment: SA Manufacturing and distribution
SEGMENT SA Manufacturing and distribution R’m R’m Revenue % change 12.4*ꟸ Profit before tax % change 6.2*⁺ 50 Profit before tax 47 45 1 400 Revenue 45 3.9% 40 38 1 200 1 221 36 1 087 35 36 1 000 1 025 888 30 800 822 25 600 20 400 15 200 10 - 5 H1 2022 H2 2022 H1 2023 H2 2023 H1 2024 - H1 2022 H2 202
Slide 112: Segment: SA Marketing funds
SEGMENT SA Marketing funds R’000 *H1 F2024 H1 F2023 % change Revenue 176 697 141 407 25.0 Loss before tax (2 278) ꟸ (15) - Deferred income movement (5 482) 18 074 (130.3) Deferred marketing 53 800 69 702 contributions *H1 2024 includes the newly acquired Doppio Collection marketing funds effective f
Slide 113: Segment: SA Other & Shared services
SEGMENT SA Other & Shared services OTHER* SHARED SERVICES H1 H1 % % R’000 R’000 H1 F2024 H1 F2023 change F2024 F2023 change Revenue 55 234 (77.4) Revenue 37 328 19 742 89.1 Marketing fund admin fee income 8 209 7 717 6.4 Operating profit 745 708 5.2 Other net interest income 15 251 9 412 62.0 Shared
Slide 114: Segment: SA Shared services
SEGMENT SA Shared services Comparable overheads R’000 H1 F2024 H1 F2023 % change Shared overheads (92 919) (81 223) (14.4) Spur Foundation (before interest) 298 261 Nikos contingent consideration FV adjustment (net of ECL) - (115) Doppio acquisition due diligence and legal costs 2 533 - Litigation c
Slide 115: Segment: International
SEGMENT International R’m Store turnover R’m % change 8.0* % change 35.7* Revenue Profit before tax % change 14.3* 12 Store Turnover 600 Revenue 10 10 500 514 476 464 8 8 8 29.5% 400 358 378 7 6 Profit before tax 300 200 4 5 100 2 - 22 26 31 31 35 H1 2022 H2 2022 H1 2023 H2 2023 H1 2024 - H1 2022 H2
Slide 116: Group Comparable Profit Analysis
GROUP COMPARABLE PROFIT ANALYSIS R’000 H1 F2024 H1 F2023 % change Profit before income tax 191 843 168 404 13.9 Exclude: Marketing funds 2 278 15 Profit before tax excl marketing funds 194 121 168 419 15.3 Financial instrument expected credit loss (IFRS 9) 2 283 3 242 Profit - Doppio Collection (inc
Slide 117: Balance Sheet
BALANCE SHEET Unaudited Unaudited R'm H1 F2024 H1 F2023 Non-current assets Property, plant and equipment 103.8 89.0 Right-of-use assets 76.0 22.9 Intangible assets and goodwill 500.0 363.5 Other non-current assets1 7.3 6.2 687.1 481.6 Current Assets Inventories 192.2 150.9 Trade and other receivable
Slide 118: Cash Flow
CASH FLOW Unaudited H1 Unaudited H1 R'm F2024 F2023 Operating profit 174.9 189.0 Working capital changes (74.7) (47.6) Cash generated from operations 100.2 141.4 Trade and other payables 77.8 67.4 Trade and other receivables (85.4) (61.9) Inventories (67.1) (53.1) Total working capital changes (74.7
Slide 119: Cash Flow
CASH FLOW Unaudited Unaudited R'm H1 F2024 H1 F2023 Cash generated from operations 100.2 141.4 Net finance income 16.4 9.6 Tax paid (54.9) (43.5) Dividend paid (95.9) (66.8) Cash flow from operating activities (34.2) 40.7 Cash flow from investing activities* (69.6) (0.6) Cash flow from financing act
Slide 120: Acquisition of Doppio Collection
Acquisition of Doppio Collection The fair value of identifiable assets and liabilities acquired on 1 December 2023 comprise: R’000 Intangible assets (Doppio Zero and Piza e Vino trademarks and related intellectual property) 73 587 Right-of-use assets 47 861 Property, plant and equipment 18 511 Inven
Slide 121: Future Outlook
Future Outlook F2024 H1 (six months to December 2023)
Slide 122: F24 Focus
F24 FOCUS INNOVATION CUSTOMER ESP. Young/New Families Grow Core Ops Cadette Program Categories Spur Next Gen More Youth Product Quality & Attract Skills Compliance Delivery Optimization Loyalty/Family Club Franchisee Participation New Growth Rising Leaders 2. Strategy CX Added Value ESG Strategy THG
Slide 123: Future Outlook
FUTURE OUTLOOK 1 Robust Sales Activation Tech led CRM 2 3 Restaurant & Best in Class CX 4 Product Innovation F2024 H1 (six months to December 2023)
Slide 124: Q&A
Q&A F2024 H1 (six months to December 2023)
Slide 125: www.spurcorp.com
www.spurcorp.com F2024 H1 (six months to December 2023)
Slide 126: Appendices
Appendices F2024 H1 (six months to December 2023)
Slide 127: Segmental SA: Franchise – Spur
1. SEGMENTAL SA: FRANCHISE Spur R’m Store turnover % change 10.0* R’m Profit before tax % change 10.9* Revenue % change 9.4* Revenue Store turnover Profit before tax 4000 160 3500 140 146 3 340 132 3000 3 037 2 888 120 125 88.3% 2500 2 273 2 472 100 105 87.2% 2000 90 87.3% 80 85.1% 1500 60 82.7% 100
Slide 128: Segmental SA: Franchise – Panarottis
1. SEGMENTAL SA: FRANCHISE Panarottis R’m R’m Store turnover % change 10.1* % change 9.5* Profit before tax % change 11.8* Revenue 500 Revenue Store turnover Profit before tax 18 470 427 16 16 400 401 366 14 14 332 13 72.2% 300 12 12 70.7% 10 68.2% 200 70.6% 8 8 100 6 54.8% 17 20 19 22 4 - 14 H1 202
Slide 129: Segmental SA: Franchise – John Dory's
1. SEGMENTAL SA: FRANCHISE John Dory’s R’m Store turnover % change (0.8)* R’m Revenue % change (0.3)* Profit before tax % change 3.7* John Dory's revenue Store turnover Profit before tax 250 7 237 235 214 213 6 6 6 200 199 5 5 150 57.9% 60.3% 4 58.2% 4 100 3 3 41.7% 50 2 31.8% - 8 9 10 10 10 1 H1 20
Slide 130: Segmental SA: Franchise – RocoMamas
1. SEGMENTAL SA: FRANCHISE RocoMamas R’m Store turnover R’m % change 6.0* % change 12.4* Revenue % change 3.2* Profit before tax Revenue Store turnover Profit before tax 20 600 18 18 500 480 16 16 453 15 76.5% 400 395 394 412 14 13 14 70.2% 12 300 73.4% 69.5% 10 71.0% 200 8 6 100 4 - 19 20 23 20 23
Slide 131: Segmental SA: Franchise – Speciality brands
1. SEGMENTAL SA: FRANCHISE Speciality brands R’m Store turnover % change 38.7* R’m Revenue % change 43.9*⁺ Profit before tax % change 41.9*ꟸ Profit before tax Revenue Store turnover 12 400 350 347 10 12 300 9 C8 8 85.3% 250 251 261 7 89.9% 200 206 V6 86.5% 150 154 4 100 3 81.3% 50 2 - 6 7 9 10 14 58
Slide 132: International: Restaurant Count
2. INTERNATIONAL: RESTAURANT COUNT Doppio Spur Panarottis John Dory’s RocoMamas Total Zero Botswana 2 - - 1 2 5 Eswatini 3 1 - - 1 5 Democratic Republic of Congo (DRC) - - - - 1 1 Africa Ghana - - - - 3 3 (excluding SA Kenya 5 - - - 2 7 and Mauritius) Namibia 7 1 1 - 2 11 Nigeria 5 3 - - - 8 Zambia
Slide 133: Segmental International: Overview
3. SEGMENTAL INTERNATIONAL: OVERVIEW REVENUE NET PROFIT / (LOSS) % R’000 % R’000 % of group revenue H1 H1 H1 H1 margin margin Change Change – H1 F2024 F2023 F2024 F2023 H1 F2024 H1 F2023 F2024 Australasia - 305 415 (26.5) (43) 131 (132.8) (14.1) 31.6 Rest of Africa & M.East 1.8 31 367 27 114 15.7 13
Slide 134: South Africa Shared Services Cost Analysis
4. SOUTH AFRICA SHARED SERVICES Cost analysis R’m H1 F2024 H1 F2023 Information Technology 17.2 16.2 People, Leadership and Culture 7.6 6.2 Executives 18.8 18.5 Finance and facilities (employment costs) 9.5 9.4 Legal and company secretarial 3.0 2.6 Development 5.8 4.6 Long-term incentives 9.1 4.9 Sp
Slide 135: Comparable Headline Earnings
5. COMPARABLE HEADLINE EARNINGS R’000 H1 F2024 H1 F2023 % change Headline earnings 129 542 112 237 15.4 Exclude: Marketing funds 2 278 15 Headline earnings excluding marketing funds 131 820 112 252 17.4 Profit - Doppio Collection (including share of profit of equity-accounted investee) (1 388) - IFR
Slide 136: International Shared Services
6. INTERNATIONAL SHARED SERVICES R’000 H1 F2024 H1 F2023 % change Operating loss (2 971) (4 513) 34.2 Financial instrument (41) 290 impairments (IFRS 9) Foreign exchange loss 461 1 481 Comparable operating loss* (2 551) (2 742) 7.0 * Applying a constant exchange rate – comparable corporate costs dec