Restaurant Brands Asia Limited · NSE:RBA
Restaurant Brands Asia — Q3 FY23 Earnings Presentation
27 slides from Restaurant Brands Asia's earnings presentation, Feb 8, 2023
Slide 1: Exchange filing cover letter
February 8, 2023 BSE Limited National Stock Exchange of India Limited Corporate Relations Department Listing Department Phiroze Jeejeeboy Towers Exchange Plaza, 5th Floor, Plot no. C/1, Dalal Street, Fort, G Block, Bandra Kurla Complex, Bandra (E) Mumbai- 400 001 Mumbai- 400 051 Scrip Code: 543248 S
Slide 2: Q3 FY23 Earnings Presentation
Restaurant Brands Asia Limited Q3 FY23 Earnings Presentation 8th February, 2023 CONFIDENTIAL AND PROPRIETARY INFORMATION 1
Slide 3: Disclaimer
Disclaimer Certain statements made in this presentation relating to the Company’s objectives, projections, outlook, expectations, estimates, among others may constitute ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results may differ from such expectation
Slide 4: India Business Summary – Q3 FY23
India Business Summary – Q3 FY23 Revenue from operations SSSG of 28.1% in 9M FY23 and 8.6% in Q3 FY23 9M FY23 INR 10,747 Mn against 9M FY22 INR 6,750 Mn, grew by 59.2% led by SSSG and strong store openings Q3 FY23 INR 3,698 Mn against Q2 FY23 INR 3,680 Mn , grew by 0.5% Gross profit margin 9
Slide 5: India Business Summary – Q3 FY23
India Business Summary – Q3 FY23 Restaurant Growth 379 restaurant count as at 31st December 2022; opened net 45 restaurants in Q3 FY23 23 restaurants under construction and 40 restaurants in pipeline as at today; on track to achieve Mar’23 target BK Café 72 BK Café opened in Q3 FY23, Total 252
Slide 6: Indonesia Summary – Q3 FY23
Indonesia Summary – Q3 FY23 Business Highlights Revenue from operations Q3 FY23 IDR 296,459 Mn against Q2 FY23 IDR 293,407 Mn Company EBITDA Q3 FY23 loss of IDR 34,265 Mn against Q2 FY23 loss of IDR 31,791 Mn Growth 182 store count as at 31st December 2022 (179 Burger King and 3 Popeyes)
Slide 7: Indonesia Popeyes- Grand Launch
Indonesia Popeyes- Grand Launch LAUNCH THE HYPE IS REAL GRAND OPENING EVENTS Margocity Depok | Dec 29, 2022 Supermal Karawaci | Dec 30, 2022 Skyline Thamrin | Dec 31, 2022 Kelapa Gading Boulevard | Jan 2, 2023 Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 6
Slide 8: Indonesia Popeyes- Grand Launch
Indonesia Popeyes- Grand Launch 41 KOLs attended the event 6 Mega, 7 Macro, and 34 Micro KOLs = 57 Million Total Followers 42 Million Reach 151 Publication Coverage 7.2 Billion in PR Value 53 Media attended the event Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 7
Slide 9: Indonesia Popeyes Summary – Q3 FY23
Indonesia Popeyes Summary – Q3 FY23 Launch highlights Global record for strongest opening day for a new country entry with 1,000+ transactions First month average ADS for 4 stores stood in excess of IDR 60 Million Growth Opened 4 stores till date Target to open 30 stores till 31st March 2024
Slide 10: Q3 FY23 – India Business Update
Q3 FY23 – India Business Update
Slide 11: Store Opening Status
Store Opening Status Balanced Growth Stores opened 5 4 20 22 13 18 45 Closed stores 12 390 379 328 334 315 294 265 270 274 260 187 129 88 49 12 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 E Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 10
Slide 12: Revenue Trend & Sales Mix
Revenue Trend & Sales Mix Revenue (INR in million) 3,680 3,698 3,369 2,799 2,687 2,454 1,497 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 120 127 120 114 ADS (in ‘000) 104 104 74 47% 49% 41% 43% 42% 53% 72% 53% 51% 59% 57% 58% 47% 28% Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY2
Slide 13: Improved efficiencies lead to better margins
Improved efficiencies lead to better margins Store EBITDA % Pre Ind AS 116 Co. EBITDA % Pre Ind AS 116 10.4% 7.9% 7.6% 8.2% 6.3% 6.1%* 3.2% 4.2% 2.5% 1.1% 1.1%* 0.1% Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 -5.9% Gross Profit% -1
Slide 14: Operating Performance
Operating Performance Particulars (INR Million) Q3 FY23 % Q2 FY23 % Q3 FY22 % 9M FY23 % 9M FY22 % Revenue from operations 3,698 100.0% 3,680 100.0% 2,799 100.0% 10,747 100.0% 6,750 100.0% Cost of materials consumed 1,243 33.6% 1,237 33.6% 950 33.9% 3,614 33.6% 2,320 34.4% Gross Profit 2,455 66.4% 2,
Slide 15: Q3 FY23 – Marketing Update
Q3 FY23 – Marketing Update
Slide 16: Staying focused on our core strength of the Whopper
Staying focused on our core strength of the Whopper Launched limited time Boss Whopper to increase consumption frequency Biggest Whopper with 9 layers between the buns Launched during festive and new year quarter to coincide with consumer preference for indulgence Wins Nielsen’s BASES Menu I
Slide 17: BK Café Expansion
BK Café Expansion BK Café Growth 252 180 86 35 18 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 230+ Cafés in 12 months +7K Incremental ADS in BK Café Restaurants Launched seasonal specials Cinnamon Cappuccino & Cinnamon Hot Chocolate Launched Masala Chai to complete the hot beverages portfolio
Slide 18: Launched the Chicken King campaign for South
Launched the Chicken King campaign for South Consumer preference in South Non Veg skewed Prefers spicy flavours Launched a new BTL campaign with all our chicken specials in one assortment Variety of flavours and formats Encouraging early trends and we will continue to build this program Re
Slide 19: Building Brand Love with Gen Z & Millennials
Building Brand Love with Gen Z & Millennials Celebrated Diwali with BK Housie Unique social media led housie with guests sharing their Diwali pics with BK Celebrated different facets of Diwali like Rangoli, Diya, Mithai, Cards, Friends, Diwali clothing etc. 3 Mn+ Impressions, 5,000+ Engageme
Slide 20: Outlook
Outlook Number of Stores FY 23: 390 FY 24: 470 SSSG Growth FY23: 25% SSSG Growth FY24 & onwards: 7%-10% SSSG Growth Gross Profit FY 23: 67.0% FY 24: 68.0% BK Café Stores FY 23: 250 - Target Achieved All new stores to open with Cafe Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 19
Slide 21: Q3 FY23 – Indonesia Business Update
Q3 FY23 – Indonesia Business Update
Slide 22: Burger King Indonesia Update
Burger King Indonesia Update ADS (INR’000) Trend QoQ 96 96 98 96 94 83 71 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3 FY23 ADS (Rs. '000) Store count 176 177 178 177 175 179 179 Opened 2 2 1 5 1 Closed 1 1 2 1 1 Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 21
Slide 23: Operating Performance
Operating Performance Particulars (INR Million) Q2 FY23 % Q3 FY23 % 9M FY23 % Revenue from operations 1,567 100.0% 1,566 100.0% 4,656 100.0% Restaurant EBITDA 1 0.0% -50 -3.2% 40 0.9% Company EBITDA Reported -169 -10.8% -181 -11.6% -391 -8.4% Restaurant EBITDA (Pre Ind AS 116) -102 -6.5% -151 -9.6%
Slide 24: Burger King Indonesia Go Forward Strategy
Burger King Indonesia Go Forward Strategy Best Burger Restaurant Chain Menu & Value Digital Innovation Win across Day-parts Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 23 23
Slide 25: Strengthen taste through Whopper relaunch & Chicken offering
Strengthen taste through Whopper relaunch & Chicken offering Build Whopper Strengthen Chicken Build Premium Layer Build APC, premium equity Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 24
Slide 26: Consolidated Q3 FY23
Consolidated Q3 FY23 Particulars (INR million) Q3FY23 (A) Q2FY23 (B) (A)-(B) Revenue from operations 5,263 5,248 15 Company EBITDA (Post Ind AS 116) 297 251 46 Company EBITDA % 5.6% 4.8% 0.9% Loss after tax -559 -551 -8 Restaurant Brands Asia Ltd | Q3 FY23 | 8th Feb 2023 25
Slide 27: Restaurant Brands Asia Ltd
Restaurant Brands Asia Ltd For additional Information: Mr. Prashant Desai, Head of Strategy and Investor Relations Email: pdesai@burgerking.in
Restaurant Brands Asia — Q3 FY23 Earnings Presentation on 6ix