Retail Food Group Limited · ASX:RFG
Retail Food — FY2026 Earnings Presentation
31 slides from Retail Food's earnings presentation, Aug 26, 2026
Slide 1: FY26 Results Presentation
Retail Food Group Limited Level 4, 35 Robina Town Centre Drive Robina Qld 4226 26 August 2026 FY26 Results Presentation Please find enclosed for release to the market Retail Food Group Limited’s FY26 Results Presentation. This announcement has been authorised for release by the Board of Directors. S
Slide 2: RFG FY26 Results
RFG FY26 Results 26 August 2026
Slide 3: Agenda & Presenters
AGENDA & PRESENTERS Agenda Presenters 1 FY26 Business Update Peter George Executive Chairman 2 FY26 Financial Results Ryan Chellingworth Chief Financial Officer 3 FY27 Trading and Outlook 4 Q&A RFG FY26 Results | 26 August 2026 2
Slide 4: Australia's largest multi-brand retail food franchise manager
CORPORATE SNAPSHOT Australia’s largest multi-brand retail food franchise manager RFG owns 9 retail food franchise brands with a footprint spanning 29 countries and ~1,200 trading outlets, including 665 in Australia. RFG manufactures and distributes high-quality pies & coffee products, and holds the
Slide 5: Improving Franchise Partner profitability remains RFG's core focus
STRATEGIC FOCUS Improving Franchise Partner profitability remains RFG’s core focus STRATEGIC PRIORITIES Profitable Stronger Customer Improved Store Efficient Group Core Brand Growth Engagement Economics Support Simpler operating model to improve store economics and support network growth TRANSFORMAT
Slide 6: FY26 Business Update
FY26 Business Update
Slide 7: Transformation delivered, positioned for growth
BUSINESS UPDATE HIGHLIGHTS Transformation delivered, positioned for growth Performance Transformation Growth Opportunities FY26 Underlying EBITDA within guidance range of Cost Rationalisation Core Brands $20.0-21.0m and 2H26 Underlying EBITDA up 20.9% ➢ Business right-sized ➢ Gloria Jean’s new forma
Slide 8: Earnings within guidance, with transformation benefits emerging
FY26 RESULTS SUMMARY Earnings within guidance, with transformation benefits emerging Domestic Network Sales of $489.5m (-3.1% vs PCP) Domestic Network Sales Domestic Outlets impacted by difficult trading conditions, non-core brand and low performing outlet closures, and company store $489.5m -3.1% P
Slide 9: Core Brands reflect network optimisation
FY26 NETWORK RESULTS Core Brands reflect network optimisation Underlying Revenue Underlying EBITDA Network Sales ($m) Same Store Sales ($m) Domestic Outlets ($m) ($m) FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 Dec 25 Jun 26 Café, Coffee, Bakery (CCB) 366.9 348.8 +1.1% -1.3% 90.9 88.3 25.5 16.1 427 406
Slide 10: Core Brands offer customer reach and scalable growth opportunities
CORE GROWTH OPPORTUNITIES Core Brands offer customer reach and scalable growth opportunities 117 183 60 16 140 1 Trading Outlets Trading Outlets Trading Outlets Trading Outlets Trading Outlets Trading Outlet1 9.1m 14.2m 6.5m 1.3m 2.8m Customer Count2 Customer Count Customer Count Customer Count Cust
Slide 11: 'Glorange' format continues to outperform
GLORIA JEAN’S 'Glorange' format continues to outperform Winning back relevance New format realising significant AWS uplift Restoring the in-store experience ➢ Establishing point of difference with a premium & personalised coffee experience ➢ Relaunch of Coffee Excellence Training Program Simplifying
Slide 12: Reconnecting with core customers & partners
DONUT KING Reconnecting with core customers & partners Back to Basics Value Program Licenced Partnerships Loyalty ➢ Core product focus ➢ Focus on value as the #1 ➢ Driving crave-ability and ➢ Relaunch of Loyalty app to ➢ Consistent media promotion driver of customer traffic relevant cultural moments
Slide 13: Strengthening Franchise Partner Engagement and Store Economics
BRUMBY’S Strengthening Franchise Partner Engagement and Store Economics Strengthening Improving Franchise Invigorating Improving Store Engagement Partner support the brand Economics ➢ Bringing existing Franchise ➢ Improved communication ➢ Clear brand standards ➢ Simplifying the operating model Partn
Slide 14: Enhancing new store performance for sustainable growth
BEEFY’S PIES Enhancing new store performance for sustainable growth Return to core marketing Driving profitable growth Beefy’s remains a key financial contributor to the Group, with FY26: ➢ Network Sales growth of 11.9% ➢ Average Weekly Sales of $26.3k ➢ Underlying Revenue of $23.5m (+10.9% on PCP)
Slide 15: Building further from a strong base
CRUST Building further from a strong base Focussing on Core Product Range Driving further growth +3.1% Network Sales vs -1.6% in PCP +0.3% Same Store Sales vs -3.5% in PCP Crust’s return to growth over the past ~15 months has been achieved though: ➢ Network growth including new Franchise Partners &
Slide 16: Successful launch, more to come
FIREHOUSE SUBS Successful launch, more to come Strong first store opening ➢ First Australian Firehouse Subs store opened at Mt 750+ Gravatt (Brisbane) in June 2026 ➢ Grand opening day sales, a record for any Tickets served on grand international Firehouse Subs store, with over 750 opening day transa
Slide 17: Growth in international outlets with Türkiye Hub now online
INTERNATIONAL Growth in international outlets with Türkiye Hub now online Growing the Network Türkiye Roasting Hub Open from February 2026 536 Trading Outlets 68% Orders Up from 528 at December 2025 Utilising road freight ➢ The International Network recorded expansion over the period, with Gloria Je
Slide 18: Brand-aligned structure strengthens Franchise Partner support
ORGANISATIONAL STRUCTURE Brand-aligned structure strengthens Franchise Partner support Previous Model New Model Benefits ➢ Stakeholder feedback indicated that ➢ Each core brand now led by an Executive ➢ Clear ownership of brand performance – there were opportunities to improve General Manager accoun
Slide 19: FY26 Financial Update
FY26 Financial Update
Slide 20: Improving momentum in 2H26 as transformation benefits emerge
P&L Improving momentum in 2H26 as transformation benefits emerge A$m FY251 FY26 Change In 2H26, Underlying EBITDA increased 20.9% to $11.1m from $9.2m in 1H26, despite seasonal headwinds, as transformation benefits began to Network Sales 505.4 489.5 -3.1% emerge. Underlying Revenue 102.7 99.6 -3.0%
Slide 21: Underlying results exclude one-off and strategic investment items
UNDERLYING RECONCILIATION Underlying results exclude one-off and strategic investment items ➢ Refer detailed reconciliation on slides 26 and 27. ➢ Marketing fund EBITDA represents timing differences between the collection and expenditure of marketing levies. These amounts are restricted for use for
Slide 22: Sales impacted by outlet decline; network health improving
CCB – CAFÉ, COFFEE, BAKERY Sales impacted by outlet decline; network health improving Domestic Network Sales Trading Outlets CCB accounts for 71% of Domestic Network Sales (vertical integration of coffee & pies). $348.8m -4.9% PCP 406 -21 vs Dec 25 Network Sales decline reflects lower customer count
Slide 23: Sales & earnings back in growth, well positioned for FY27
QSR – QUICK SERVICE RESTAURANTS Sales & earnings back in growth, well positioned for FY27 Domestic Network Sales Trading Outlets QSR accounts for 29% of Domestic Network Sales $140.7m +1.6% PCP 259 -8 vs Dec 25 Network Sales growth was driven by improved customer count alongside an easing of the agg
Slide 24: Strong 2H26 operating cashflow improvement
CASH FLOW Strong 2H26 operating cashflow improvement Operating Cash Flow declined in FY26 vs the PCP primarily due to first half headwinds. A$m FY25 FY26 Change 2H26 Operating cashflow saw a dramatic Operating Cash Flow 18.4 9.3 (49.6%) improvement, up 284% on 1H26 and 11% on the PCP which included:
Slide 25: Stable balance sheet post debt refinancing
BALANCE SHEET Stable balance sheet post debt refinancing A$m Jun-25 Jun-26 Change Cash reserves include $14.4m of unrestricted cash ($13.9m in PCP). Restricted Cash 26.0 24.2 (7.0%) cash balances relate to marketing funds, cash-backed bank guarantees, and cash Receivables 11.0 8.3 (24.0%) Inventorie
Slide 26: Refinancing provides funding support for strategic execution
STRATEGIC GROWTH FUNDING Refinancing provides funding support for strategic execution 2H26 Refinance Strategic focus areas ➢ In February 2026 the Group’s senior debt facility with ➢ Improve Core Brand network sales and Franchise WHSP was refinanced, with a new 19-month, $41.2m Partner performance fa
Slide 27: Positioned to build on 2H26 momentum in FY27
FY27 OUTLOOK & TRADING Positioned to build on 2H26 momentum in FY27 ➢ Trading for the first 8 weeks of FY27 has seen Core Brand Network Sales down 2.6% vs PCP, primarily reflecting network rationalisation. Same Store Sales down 0.4%, as still-challenging macroeconomic conditions are mitigated by the
Slide 28: Q&A
Q&A RFG FY26 Results | 26 August 2026 27
Slide 29: FY26 Statutory to Underlying Reconciliation
INCOME STATEMENT RECONCILIATION FY26 Statutory to Underlying Reconciliation Statutory to Underlying Adjustments FY26 H1FY26 H2FY26 $ millions FY26 Statutory Marketing C-Stores C-Stores M&A and Firehouse Underlying Underlying Underlying Funds Trading Strategic reset Other NETWORK SALES 489.5 489.5 25
Slide 30: FY25 Statutory to Underlying Reconciliation
INCOME STATEMENT RECONCILIATION FY25 Statutory to Underlying Reconciliation Statutory to Underlying Adjustments FY25 FY25 H1FY25 H2FY25 $ millions Marketing C-Stores C-Stores Impairment of M&A and Statutory Underlying Underlying Underlying Funds Trading Provision Brumby's Other NETWORK SALES 505.4 -
Slide 31: Disclaimers
DISCLAIMERS This Presentation contains summary information about the current and proposed activities of Retail Food Group Limited ACN 106 840 082 and its subsidiaries (RFG, the Company or Group) as at the date of this Presentation, unless otherwise stated. The information in this Presentation is of