Amrest Holdings Se · GPW:EAT
Amrest — Q3 2011 Earnings Presentation
16 slides from Amrest's earnings presentation, Nov 15, 2011
Slide 1: AmRest Holdings SE Q3 2011 Investors Presentation
AmRest Holdings SE Q3 2011 Investors Presentation 15th November 2011 1
Slide 2: Teleconference Details
Teleconference Details • AmRest Q3 2011 results are included in the Q3 2011 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 •The AmRest participants: • Hen
Slide 3: Executive Summary
Executive Summary • Significant improvement in AmRest’s performance with record results in Q3 • Quarterly sales increase +34.1% to PLN 701 m: • Strong performance in both Russia and CEE • Overall retail environment in CEE improving but still challenging • Russian market very dynamic • Addition of Re
Slide 4: Executive Summary
Executive Summary • Pipeline solid with 72 new restaurants opened YTD: • 56 in CEE/Russia – 17 new builds remaining in 2011 pipeline • 16 in May-October period for Restauravia •Extremely strong results in Restauravia: • Despite challenging environment in Spain, business ahead of pre-acquisition plan
Slide 5: Sales trends Q3 2011
Sales trends Q3 2011 • Consolidated sales improved by +34.1% • Russia up by +30.4%, driven by strong same-store-sales in KFC and PH • CEE results +15.8% with both Poland and Czech Republic very strong, +16.1% and +11.1% respectively Sales dynamic in the third quarter 2011 compared to • US market per
Slide 6: Brand portfolio
Brand portfolio 700 665* Bulgaria; 5 Serbia; 4 600 Hungary; 28 France; 2 500 437 465 Russia; 53 405 400 300 247 191 Czech; 72 Poland; 248 200 USA; 103 100 0 2006 2007 2008 2009 2010 11.2011 Spain; 150 Number of AmRest’s restaurants Casual Dining Restaurants Quick Service Restaurants 120* 103 71 301
Slide 7: Financial Highlights – Q3 2011
Financial Highlights – Q3 2011 • Q3 EBITDA at historically high level – PLN 86.1 m (12.3% margin) • Spanish business to contribute PLN 30.3 m to EBITDA result • Combined contribution of CEE business and Russia at PLN 50.8 m – QoQ incremental improvement of PLN 10.0 m driven by both, higher volumes a
Slide 8: Q3 2011 Financials - segments
Q3 2011 Financials - segments share of share of Q3 2011 margin Q3 2010 margin revenues revenues Thousand PLN Sales 701 492 523 003 Poland 243 460 34.7% 209 794 40.1% Czech Republic 82 095 11.7% 73 901 14.1% Other CEE 25 989 3.7% 19 772 3.8% Total CEE 351 544 50.1% 303 467 58.0% Russia 54 335 7.7% 41
Slide 9: YTD Q3 2011 – consolidated P&L
YTD Q3 2011 – consolidated P&L YTD Q3 2011 % of sales YTD Q3 2010 % of sales Thousand PLN Continuing operations Restaurant sales 1 771 187 1 499 026 Franchise and other sales 70 638 17 739 Total sales 1 841 825 1 516 765 Company operated restaurant expenses: Food and material -538 159 -29.2% -474 46
Slide 10: Q3 2011 Financials – key figures
Q3 2011 Financials – key figures Thousand PLN Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 TTM** Sales 523 003 517 051 524 907 615 426 701 492 2 358 876 Sales growth 7.3% 6.1% 7.9% 22.9% 34.1% - EBITDA 41 783 45 860 49 707 62 440 86 091 244 098 EBITDA (%) 8.0% 8.9% 9.5% 10.1% 12.3% 10.4% EBIT 15 453 15 0
Slide 11: IR contact
IR contact: Maciej Mausch maciej.mausch@amrest.eu mobile +48 519 19 12 64 tel. +48 71 386 12 64 11
Slide 12: Backup slides
Backup slides 12
Slide 13: AmRest Strategy
AmRest Strategy Scope Leverage our WJM culture, international capability, and superior brand portfolio to grow scalable, highly profitable restaurants globally. Our unique value proposition Through our WJM culture we will deliver craveble taste and exceptional service at affordable prices. 13
Slide 14: Brand portfolio
Brand portfolio •#1 in Chicken 16 000 restaurants in over 100 countries. •#1 and the fastest growing QSR brand in the Emerging Markets, over 700 restaurants added in 2010. •#1 CDR in the World, over 13 000 restaurants in over 100 countries •#1 Coffee in the World, 17 000 stores in over 50 countries
Slide 15: EAT Factsheet
EAT Factsheet Free float; WP 23.68% Holdings; 32.99% EAT (AmRest) Ticker AVIVA OFE; Listing WSE 6.65% BZ WBK Free Float 23.68% Henry AM*; McGovern 12.60% ING OFE; **; 6.96% UniCredit. Wood&Co. 17.13% Analyst Coverage ERSTE. Deutsche Bank. BDM. DM PKO BP. KBC. IPOPEMA Number of Employees 19 707 21.2
Slide 16: AmRest portfolio
AmRest portfolio Countries Brands 03-30-2011 06-30-2011 9-30-2011 11-01-2011 Poland 213 223 242 248 KFC 126 133 142 145 BK 21 22 26 27 SBX 9 11 16 18 PH 57 57 58 58 Czech 75 75 74 72 KFC 58 58 57 55 BK 5 5 5 5 SBX 12 12 12 12 Hungary 23 24 26 28 KFC 18 19 19 21 SBX 3 3 5 5 PH 2 2 2 2 Russia 50 50 51