Amrest Holdings Se · GPW:EAT
Amrest — WOOD 'EME NYC' Conference October 2022
33 slides from Amrest's conference presentation, October 2022
Slide 1: AmRest Equity Story
AmRest Equity Story October 2022
Slide 2: AmRest is the leader restaurant operator in Europe
AmRest is the leader restaurant operator in Europe with… 2 2,382 2,436 restaurants restaurants* * FY 2021 main figures across23 across 25 countries countries Europe + ME 30 millions clients every month are served by +45,000 employees 6 595 11 263 3 213 18 2 356 11 1 1 8 143 19 63 24 Sales € 1,917m €
Slide 3: AmRest vision and strategy
AmRest vision and strategy 3 Common culture across the AmRestee family Trust Fairness Become the European leader who inspires the global Responsibility AmRest Loyalty restaurant industry values Prudence
Slide 4: AmRest is a diversified multinational company
AmRest is a diversified multinational company… 4 4 … with a clear goal, TO BECOME THE EUROPEAN LEADER WHO INSPIRES THE GLOBAL RESTAURANT INDUSTRY DELIVERING THE BEST EXPERIENCE 1 RESTAURANTS 2 FRANCHISING 3 FOODSERVICE / 4 DIGITAL 5 LONG TERM SCM CAPABILITIES AND SUSTAINABLE INNOVATION GROWTH 474 fr
Slide 5: Restaurants
AmRest is the leader restaurant operator in Europe with… 5 1 RESTAURANTS Quick service restaurants (franchisee business) Fast casual restaurants (own brands, master franchisor and franchisee business) Casual dining restaurants (own brands) Coffee category (franchisee business) Virtual brands (Food A
Slide 6: AmRest with a balance between equity and franchise restaurants
AmRest with a balance between equity and franchise restaurants 6 AAA+ brands with leading positions in their markets 2 FRANCHISING High profitability and ongoing support to out franchisees Spain and Portugal Spain France, UAE, Belgium, China, Spain MFA: France and CEE Portugal, Saudi Arabia, (Hungar
Slide 7: AmRest provides unique economy of scale opportunities
AmRest provides unique economy of scale opportunities 3 FOOD SERVICE/SCM ▪ Direct Procurement ➢ To guarantee quality supply and to beat CPI pressure. ▪ Master Quality Assurance & Supply approval process ➢ Global food safety policy, environment policy, nutrition policy ▪ Food production & logistic kn
Slide 8: AmRest is an operator and a platform
AmRest is an operator and a platform 8 DIGITAL CAPABILITIES & To maintain a leadership position requires a continue 4 INNOVATION innovation in several dimensions Technology at service to our customers Optimization tools Best-fit scheduling Integrated Business Kiosks, Web and App ordering Click & Eat
Slide 9: AmRest Global Sustainability Strategy
AmRest Global Sustainability Strategy 9 5 LONG TERM Three pillars for all AmRest employees and executives SUSTAINABLE GROWTH across each brand operated by AmRest in every geography Our Food Our Environment Responsible sourcing Circular economy Balanced choice Climate change Food safety Our People Fa
Slide 10: Q2'22 – Latest Update
Q2’22 —- LATEST UPDATE
Slide 11: Q2'22 Highlights
Q2´22 Highlights 11 Revenues The highest ever quarterly revenues of EUR 606m Further balance sheet strengthened despite impairment Balance of EUR 53 million in KFC Russia business sheet First net reversal of impairments at restaurant level since Covid eruption Strategic Focus on profitability managi
Slide 12: New milestone the highest ever quarterly and H1 revenues
New milestone the highest ever quarterly and H1 12 revenues 12 New advances in the dine-in sales channel and the excellence of the services offered resulted in the highest revenues in AmRest's history Sales [EURm] EBITDA [EURm] & EBITDA Margin 18% 18% 16% 1 200 1 113 176.1 165.8 1 000 928 153.7 844
Slide 13: Gradual and steady dine-in recovery
Gradual and steady dine-in recovery 13 Successful omnichannel strategy and dine-in recovery are supporting new quarterly sales record Total AmRest & dine-in sales evolution (EURm) 606 2018 2019 2020 2021 2022 AmRest sales Dine in sales
Slide 14: Q2'22 quality sales growth back to 2019 highest level
Q2’22 quality sales growth back to 2019 highest level 14 Sales leverage as a key lever for maintaining margins in an inflationary environment. AmRest is well position for margin expansion once cost pressure diminished. EURk 12 months trailing average revenue per store Number of restaurants 950 918 3
Slide 15: Cost pressure weights on margins
Cost pressure weights on margins 15 We are almost at the peak level of inflation expectations for most of the countries we operate Inflation evolution and EC forecast by country 14% 12% 10% 8% 6% 4% 2% 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022e 2023e -2% Poland Czechia Hung
Slide 16: AmRest has a proven resilience business model
AmRest has a proven resilience business model 16 AmRest's strength in the Quick Service Restaurants (QSR) has historically shown great resilience, even in periods of contraction in consumption GDP QSR Number of AmRest equity restaurants QSR SSS growth rate* 15% 35% 2000 1800 25% 10% 1600 15% 1400 5%
Slide 17: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 18: H1'22 highlights and current trading
H1’22 highlights and current trading 18 Sales € 1,113m +31.8% 125% Growth Sales Sales growth SSS index € 844 in H1´21 vs. H1’21 vs. 2021 EBITDA Liquidity € 176.1m € 240.5m € 43.1m EBITDA growth Cash position CAPEX CAPEX +14.6% vs. H1’21 H1’21 € 32.6m Portfolio 29 performance Gross openings (20 Eq, 9
Slide 19: Q2'22 highlights and current trading
Q2’22 highlights and current trading 19 Sales € 605.7m +30.4% 123% Growth Sales Sales growth SSS index € 464.4 in Q2´21 vs. Q2’21 vs. 2021 EBITDA € 100.8m € 26.6m CAPEX EBITDA CAPEX Q1’21 € 10.1m Current c.120% SSS index trading vs. 2021 YTD as of 29th August 2022
Slide 20: Q2'22 Revenues highlights
Q2’22 Revenues highlights 20 20 New milestone achieving the highest ever quarterly revenues of EUR 606m Quarterly revenues evolution (EURm) Quarterly SSS 605.7 123% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2019 2020 2021 2022 2020 2021 2022 SSS vs LY
Slide 21: Q2'22 EBITDA highlights
Q2’22 EBITDA highlights 21 21 EBITDA of EUR 100.8 million in Q2´22, reaching an EBITDA margin of 17% EBITDA [EURm] & EBITDA Margin EBITDA [EURm] +15% 22% 20% 176.1 18% 17% 15% 153.7 104.0 107.5 98.0 100.8 75.3 75.3 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 H1'20 H1'21 H1'22
Slide 22: Q2'22 Cash flow
Q2’22 Cash flow 22 Quarterly Yearly Reporting period Q2'21 Q1'22 Q2'22 variation variation Restaurants 2,371 2,438 2,382 (56) 11 Operational* 97% 99% 100% - Equity openings 1,882 1,924 1,908 -16 26 Franchise openings 489 514 474 -40 -15 Revenue 464.4 507.0 605.7 19.5% 30.4% EBITDA 104.0 75.3 100.8 3
Slide 23: Portfolio optimization strategy on track
Portfolio optimization strategy on track 23 Portfolio optimization 44 26 24 25 4 7 56 3 33 29 24 36 32 19 9 11 18 -16 -7 -17 -12 -7 -12 -13 -15 -25 -39 -7 -2 -20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2022 Openings Closures Net Openings Number of opened and New Openings closed stores Target 98 1 88
Slide 24: Q2'22 debt and cash evolution
Q2’22 debt and cash evolution 24 24 Balance sheet strength reinforced. ❑ Net debt reduced by EUR 196.1 million since the beginning of pandemic. * ❑ Leverage ratio at 2.0x in Q2’22. Net financial debt evolution & cash position -19.8% 541.0 484.1 433.7 Leverage ratio monitoring Q2'22 Cash (EURm) 240.5
Slide 25: Balance debt structure and maturity profile
Q2’22 debt profile 25 25 Balance debt structure and maturity profile Debt structure Debt maturity profile 68% 15% 8% 10% 18% 85% 82% 20% 82% 12% Short-Term Debt Bond Debt 1% PLN EUR Long-Term Debt Bank Debt 2022 2023 2024 2025 2026 Other * Excluding IFR16
Slide 26: Forward Guidance
FORWARD GUIDANCE
Slide 27: 2022 expectations
2022 expectations 27 2020 | 2021 2022 Revenues (EUR Million) 1,523 | 1,917 > 10% EBITDA 13.2% | 18.7% Margin level % Margin similar to FY21 CAPEX* 75 | 104 > 150 (EUR Million) New 88 | 147 150 openings* Range Leverage* 3.2x | 2.3x [2.0x – 2.5x] * Excluding acquisitions
Slide 28: Appendix
APPENDIX
Slide 29: AmRest footprint
AmRest footprint 29 29 Europe + ME As of end of June 2022 Store count by country # Equity | # Franchise Country Shadow Total Kitchen 6 595 Poland 317 - 152 8 46 - 69 - - - - - - - - - 3 - 587 8 11 263 3 213 18 2 Czechia 114 - 17 - 31 - 51 - - - - - - - - - - - 213 - 356 11 143 1 8 63 19 1 24 Hungary
Slide 30: Factsheet: Shareholder structure - Finaccess
Factsheet 30 Shareholder structure - Finaccess AmRest: Finaccess’ most relevant long-term operational investment in the restaurant sector Grupo Finaccess Engagement • Finaccess actively participates in the AmRest Board of Directors with three directors who contribute to maintaining the company's str
Slide 31: Factsheet: Shareholder structure and listing details
Factsheet 31 Shareholder structure** Listing details Warsaw (since 2005) Listing venues: Madrid (since 2018) ISIN: ES010537500 Shares issued: 219.6m Other Shareholders; 19.70% Aviva OFE ; 3.19% Artal International S.C.A.; 5.18% FCapital Dutch B. V.*; Nationale-Nederlanden OFE; 67.05% 4.88% *FCapital
Slide 32: Glossary
Glossary 32 32 ▪ COS – Cost of Sales ▪ COL – Cost of Labor ▪ SEMIS – Occupancy and other operating expenses ▪ EBITDA – It is a close measure of profitability on operations and consist of profit from operations excluding amortization and depreciation costs as well as impairments. ▪ Adjusted EBITDA -
Slide 33: Disclaimer
DISCLAIMER 33 This Presentation regarding AMREST HOLDINGS, SE (“AmRest” or the “Company”) has been prepared for information purposes only and it is not regulated information or information which has been subject to prior registration or control by the Spanish Securities Market Commission. “Presentat