Jubilant Foodworks Limited · NSE:JUBLFOOD
Jubilant Foodworks — Q4 FY'24 and FY'24 Earnings Presentation
56 slides from Jubilant Foodworks's earnings presentation, May 22, 2024
Slide 1: MONA Digitally AGGA Date: RWAL 15:48:51 +05'30'
MONA Digitally by MONA signed AGGA Date: AGGARWAL 2024.05.22 RWAL 15:48:51 +05'30'
Slide 2: Earnings Presentation Q4 FY'24 and FY'24
Earnings Presentation Q4 FY’24 and FY’24
Slide 3: Contents
Contents 2 1. FY’24 – Year of Significant Shift for the JFL Group 2. Key Market-wise Highlights 3. Key Brand-wise Highlights 4. Consolidated Statement of Profit and Loss 5. Business Outlook and Network Addition Guidance - FY’25 6. Supplementary Information
Slide 4: FY'24 – Year of Significant Shift for the JFL Group
Content 3 1 FY’24 – Year of Significant Shift for the JFL Group
Slide 5: JFL Group Store Network across Six Markets and Five Brands is now ~3,000 stores
JFL Group Store Network across Six Markets and Five Brands is now ~3,000 stores strong 4 Potential to serve ~22% of world’s population Net Net Overall Addition in Addition in India Turkey Sri Lanka Bangladesh Azerbaijan Georgia Network last 12 last 3 months months Stores Total Corporate Franchised T
Slide 6: Made Remarkable Strides under every Strategic Priority during FY'24
Made Remarkable Strides under every Strategic Priority during FY’24 5 ü Domino’s India LFL trajectory turned around by Q4 and brand is also continuously winning share ü Acquisition of Domino’s(Turkey, Azerbaijan and Georgia) and COFFY elevates profitable growth trajectory ü Record opening of 356 sto
Slide 7: FY'24 Consolidated Performance
FY’24 Consolidated Performance 6 Network System Sales* Revenue Gross Profit Op. EBITDA PAT# 2,991 stores Rs. 58,523 mn Rs. 56,541 mn Rs. 43,130 mn Rs. 11,435 mn Rs. 2,306 mn +356 +13.3% +9.6% +10.3% (0.7)% (34.7)% stores growth growth 76.3% 20.2% 4.1% Note: 1. DP Eurasia line by line consolidation a
Slide 8: FY'24 Consolidated Revenue
FY’24 Consolidated Revenue 7 +9.6 % growth Rs. 2,174 mn Rs. 56,541 mn Rs. 841 mn Rs. 1,943 mn Rs. 51,582 mn +1.6 % +4.2 % +3.8 % Reported Revenue Walk FY’23 Sales Domino’s India Emerging Businesses1 DP Eurasia Consolidation FY’24 Sales Rs. 14,923 mn Rs. 69,289 mn Rs. 841 mn Rs. 1,943 mn Rs. 51,582 m
Slide 9: Key Market-wise Highlights
Content 8 2 Key Market-wise Highlights
Slide 10: India Segment – Q4 FY'24
India Segment – Q4 FY’24 9 Revenue and Store Growth Margin Key KPIs (Domino’s) Rs. 13,313 mn Gross Margin: 76.6% New Customer Acquisition: 30% growth + 89 stores Op. EBITDA: 19.1% Monthly Active Users: 11.1 mn q Revenue growth came in at 6.3% q GM improvement driven by Project Vijay q Marketing: Rec
Slide 11: Domino's LFL Trajectory Turning Around
Domino’s LFL Trajectory Turning Around 10 • Key factors supporting Domino’s LFL recovery despite demand weakness: o Sharper-on-ground execution v Transition from four to seven region structure v Highest NCA growth at 30% v Higher NPS scores v Quarter-on-quarter improvement in Delivery under 20 min 0
Slide 12: Delivery Fee Waiver Turbocharges the Lead on Consumer Value Proposition
Delivery Fee Waiver Turbocharges the Lead on Consumer Value Proposition 11
Slide 13: Delivery continues to dominate Domino's India Channel Mix
Delivery continues to dominate Domino’s India Channel Mix 12 Delivery Channel Mix Key Highlights 67.9% 65.5% 65.2% • Delivery channel revenue up by 12.0% 64.3% 63.6% 62.4% 62.8% 62.5% v Mid-teen delivery order growth was partially offset by decline in ticket on account of delivery fee waiver 55.1% v
Slide 14: Revenue Trends (Standalone)
Revenue Trends(Standalone) 13 Revenue Revenue Growth (Rs. million) (%) 13,448 13,551 13,313 13,097 8.2% 5.6% 6.3% 12,523 4.5% 2.9% Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Domino’s Mature Store ADS Domino’s LFL Growth (%) (Rs.) 80,971 79,716 79,759 78,446 78,492 0.1% -0.
Slide 15: Profitability Trends (Standalone)
Profitability Trends(Standalone) 14 Op. EBITDA Margin Op. EBITDA Margin Gross Margin (Post Ind-AS-116) (Pre Ind-AS-116) 76.7% 76.6% 76.4% 21.1% 20.9% 20.9% 76.0% 20.1% 13.4% 19.1% 13.3% 12.9% 75.3% 12.3% 10.9% Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24
Slide 16: International Segment – Q4 FY'24
International Segment – Q4 FY’24 15 • Turkey, Azerbaijan and Georgia q Q4 FY’24 Performance o Strong performance with System Sales of Rs. 5,877 million, up by 28.1%; Domino’s Turkey LFL growth was 18.0% o Domino’s Turkey Delivery channel mix was stable at 74.4% o COFFY’s System Sales came in at Rs.
Slide 17: Key Brand-wise Highlights
Content 16 3 Key Brand-wise Highlights
Slide 18: Domino's
Content 17 a Domino’s
Slide 19: Domino's: JFL Group ~ World #1 Pizza Company
Domino’s : JFL Group ~ World #1 Pizza Company : One of the Largest Emerging Market Franchisee 18 Full Territorial Under-penetrated, Rights high-potential markets Strong Value Equation Self-delivery and Own-app through unique Infrastructure Commissary model 2,793 Stores +240 Culture of Hustle Maniaca
Slide 20: Territories with Podium positions and a potential of 5,500+ stores
Territories with Podium positions and a potential of 5,500+ stores in the medium-term 19 India Turkey Bangladesh Sri Lanka Azerbaijan Georgia Market Position #1 #1 #1 #2 #3 #2 Network 1,995 703 28 50 10 7 (store count) Medium-term 4,000 1,250 200 100 25 10 potential Markets with One of the Highest P
Slide 21: Domino's India nearing the record feat of operating 2,000 store Network
Domino’s India nearing the record feat of operating 2,000 store Network across 421 cities in India 20 Store Count City Coverage 179 net store addition in last one year Entered 28 new cities in last one year 1,995 421 1,928 1,888 407 1,838 397 1,816 393 394 1,760 387 1,701 1,625 371 349 Q1FY23 Q2FY23
Slide 22: Domino's India App – Where we were in 2022
Domino’s India App – Where we were in 2022 21 Non Intuitive Non Intuitive Non Intuitive Non Intuitive Legacy 8 Steps Onboarding Legacy Address Home Menu Cart Coupons Payments
Slide 23: Domino's India App – Where we are now
Domino’s India App – Where we are now 22 Business Benefit – Sharp jump in Domino’s India App Conversion and Focussed consumer-centric Value Targeting 1-click On- Food First Next Gen Next Gen Intuitive Home Next Gen Cart Next Gen Offers Boarding Menu Address Payments
Slide 24: Domino's India Digital Metrics Trend
Domino’s India Digital Metrics Trend 23 Sequential improvement in Installs and App despite seasonality Domino’s Cheesy Rewards App Installs Monthly Active Users(App) Cumulative Membership (million) (million) (million) 23.1 21.5 19.5 16.8 13.6 11.1 10.8 11.2 10.0 10.6 10.3 10.5 9.1 9.4 8.5 Q4FY23 Q1F
Slide 25: Launched a Dedicated Rider App
Launched a Dedicated Rider App 24 Salient features ü Auto-delivery assignment ü Order allocation notification to Riders ü Rider-id specific dashboard ü Manage profile ü Delivery notification ü Order details
Slide 26: Domino's Turkey, Azerbaijan and Georgia Network Growth
Domino’s Turkey, Azerbaijan and Georgia Network Growth 25 Store Count Franchise % 48 net store addition in last one year 720 89.2% 88.7% 707 88.1% 88.1% 691 691 87.1% 86.7% 671 672 85.4% 85.6% 651 643 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q
Slide 27: Launched new Mexicano Pizza in Turkey
Launched new Mexicano Pizza in Turkey 26
Slide 28: Domino's Turkey Digital Metrics Trend
Domino’s Turkey Digital Metrics Trend 27 App Installs Monthly Active Users(App) (million) (million) 3.7 3.3 3.3 3.0 2.6 0.66 0.76 0.64 0.51 0.53 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 MAU: Monthly Active Users
Slide 29: Domino's Bangladesh Rapid Network Growth
Domino’s Bangladesh Rapid Network Growth 28 Store Count Network Penetration in Dhaka 11 net store addition in last one year 28 26 23 20 17 13 11 10 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 • In FY’24, in addition to Dhaka, Domino’s Bangladesh entered two new cities Narayanganj and Cha
Slide 30: New Fusion Innovation Launched in Bangladesh – Oregano Rice Bowl
New Fusion Innovation Launched in rice-eating nation Bangladesh – Domino’s New Oregano Rice Bowl 29
Slide 31: Launched a new range of Garlic Bread in Sri Lanka
Launched a new range of Garlic Bread in Sri Lanka 30
Slide 32: Popeyes
Content 31 b Popeyes
Slide 33: Popeyes – Product Superiority with Modern, Digital Guest Experience
Popeyes – Product Superiority with Modern, Digital Guest Experience 32 Snapshot of our Progress Product Market Fit Established Fresh Chicken with Product Superiority guarantee of “No-antibiotics ever” Accelerated the pace Network Expansion to 10 new stores per quarter
Slide 34: Accelerated Network Expansion - 42 restaurants across 15 cities
33 Accelerated Network Expansion - 42 restaurants now serving consumers across 15 cities in India Getting better with every new store and city launch 250 Mohali Delhi Faridabad Gurugram 50 Hyderabad 42 40 32 30 22 17 Manipal Bengaluru 20 12 13 6 8 Mangalore 10 4 Chennai Mysore Salem 0 Calicut Cuddal
Slide 35: Glimpses of New Popeyes Restaurants
34 Glimpses of New Popeyes Restaurants
Slide 36: COFFY
Content 35 c COFFY
Slide 37: COFFY – One of the Fastest Growing Profitable CAFÉ Brand in Turkey
COFFY – One of the Fastest Growing Profitable CAFÉ Brand in Turkey 36 Snapshot of our Progress Product Market Fit Established Idea behind Quality coffee without COFFY the excessive price tag Network Opened 62 stores Expansion in one year
Slide 38: COFFY is now the 8th largest CAFÉ brand in Turkey
37 COFFY is now the 8th largest CAFÉ brand in Turkey
Slide 39: On track to become 5th largest CAFÉ brand in Turkey by end of 2024
38 On track to become 5th largest CAFÉ brand in Turkey by end of 2024 First amongst our Emerging Brands to cross 100 store milestone 350 97 89 59 51 29 35 15 19 8 11 Q3FY'22 Q4FY'22 Q1FY'23 Q2FY'23 Q3FY'23 Q4FY'23 Q1FY'24 Q2FY'24 Q3FY'24 Q4FY'24 Medium-term potential
Slide 40: Other Emerging Brands
Content 39 d Other Emerging Brands
Slide 41: Other Brand Performance showing Encouraging Progress
Other Brand Performance showing Encouraging Progress 40 • Added 10 net new stores in FY’24 • Added 15 net new stores in FY’24 • Successfully pivoted to Coffee-first strategy • Launched a new Chicken range consisting of Lollipop, Drumstick and Nuggets • Building Product Excitement and playing up seas
Slide 42: Stepped up Consumer Engagement across all Brands and Markets
Stepped up Consumer Engagement across all Brands and Markets 41
Slide 43: Consolidated Statement of Profit and Loss
Content 42 4 Consolidated Statement of Profit and Loss
Slide 44: Consolidated Statement of Profit and Loss
Consolidated Statement of Profit and Loss 43 Particulars (Rs. mn) FY24 FY23 % Change Revenue from operations 56,541 51,582 9.6% Other Income 419 504 -16.9% Total Income 56,960 52,087 9.4% Raw Material and Beverage Cost 13,411 12,478 7.5% Gross Profit 43,130 39,104 10.3% Margin 76.3% 75.8% Personnel
Slide 45: Consolidated Statement of Profit and Loss
Consolidated Statement of Profit and Loss 44 Particulars (Rs. mn) Q4 FY24 Q4 FY23 % Change Q3 FY24 % Change Revenue from operations 15,728 12,698 23.9% 13,781 14.1% Other Income 213 198 8.0% 42 413.2% Total Income 15,941 12,896 23.6% 13,823 15.3% Raw Material and Beverage Cost 3,673 3,165 16.1% 3,24
Slide 46: Network Addition and Business Outlook for FY'25
Content 45 5 Network Addition and Business Outlook for FY’25
Slide 47: Business Outlook and Network Addition Guidance - FY'25
Business Outlook and Network Addition Guidance - FY’25 46 Business Outlook Network Addition India Turkey Bangladesh q Focus on volumetric growth and market-share gains Guidance q Drive value and acquire new customers 180 50 20 q Innovate on the portfolio at both ends i.e. value and premium end q Con
Slide 48: Supplementary Information
Content 47 6 Supplementary Information
Slide 49: Strategic Priorities
48 Strategic Priorities Customers, technology, operations and organization’s culture to drive sustained profitable growth
Slide 50: Key competitive advantage: multi-brand, commissary based sourcing and manufacturing model
49 Key competitive advantage: Unique, multi-brand, commissary based sourcing and manufacturing model The Integrated Supply chain model helps JFL enjoys one of highest fill rates - 99.6% - globally 8 Commissaries and 2 Distribution Centers in India ‘Jubilant Food Park Bangalore’ has commenced operati
Slide 51: Key competitive advantage: Continued investments for building data and technology strengths
50 Key competitive advantage: Continued investments for building data and technology strengths Our 'Data and Technology Forward’ Pillars Advanced Analytics and Immersive Customer Experience Next Level Platform Capabilities Digitizing Value Chain Data Science • Rider App • Multi-Country, Multi-Brand
Slide 52: Sustainability Progress
Sustainability Progress 51 Sustainability is deeply embedded in our multi-stakeholder business model, as a key tenet of generating long-term value Responsible Emissions, Energy and Benefit Baking Goodness Sourcing Waste Management People and Communities • The Company empower dairy farmers with • All
Slide 53: About Us
About Us 52 Jubilant FoodWorks Limited (JFL Group/Group), incorporated in 1995, ranks among the leading emerging markets’ food service companies. Its Group network comprises 2,991 stores across six markets – India, Turkey, Bangladesh, Sri Lanka, Azerbaijan and Georgia. The Group has a strong Portfol
Slide 54: Jubilant FoodWorks Limited Reports Q4FY'24 and FY'24 Results
PRESS RELEASE Jubilant FoodWorks Limited Reports Q4FY’24 and FY’24 Results Full Year Highlights* • Revenue was Rs. 56,541 mn; Gross Margin at 76.3%; EBITDA margin at 20.2% • JFL Group Store Network is now nearing 3,000 stores with the opening of record 356 stores in FY’24 • JFL Group’s store network
Slide 55: FY 2023-24 Update
FY 2023-24 Update* Revenue from Operations of Rs. 56,541 million increased 9.6%. The JFL Group network strength is now 2,991 stores with the opening of a record 356 net stores in a year. Gross Profit was Rs. 43,130 million, higher by 10.3%. Gross margin came in at 76.3%. Op. EBITDA came in at Rs. 11
Slide 56: About Jubilant FoodWorks Limited
About Jubilant FoodWorks Limited: Jubilant FoodWorks Limited (JFL Group/Group), incorporated in 1995, ranks among the leading emerging markets’ food service companies. Its Group network comprises 2,991 stores across six markets – India, Turkey, Bangladesh, Sri Lanka, Azerbaijan and Georgia. The Grou
Jubilant Foodworks — Q4 FY'24 and FY'24 Earnings Presentation on 6ix