Alsea, S.a.b. De C.v. · BMV:ALSEA
Alsea, S.a.b. De C.v — Q2 2022 Earnings Presentation
26 slides from Alsea, S.a.b. De C.v's earnings presentation, Jul 29, 2022
Slide 1: Earnings Release 2Q22
Informe Trimestral 2T20 Earnings Release 2Q22 28.07.22 Salvador Villaseñor Nicolás Espinoza ri@alsea.com.mx +52 (55) 7583-2000 CONFERENCE CALL Date and Time: Friday, July 29th, 2022, 9:00 am (Mexico City time) Register at: https://alseareportederesultados.com/ 1
Slide 2: Index
Earnings Release 2Q22 INDEX Results and Highlights 3 Message from the CEO 3 Second Quarter Financial Highlights 5 Consolidated Quarterly Results 6 Sales 6 EBITDA 7 Net Income 8 Quarterly Results by Segment 9 Mexico 9 Europe 10 South America 11 Non-Operating Results 12 Balance Sheet 12 CAPEX 12 Bank
Slide 3: Second Quarter 2022 Results and Highlights
Earnings Release 2Q22 Second Quarter 2022 Results and Highlights • In 2Q22, Alsea reported its sixth quarter of sustained sales growth, and again positive EBITDA growth in all regions • Same-Store Sales (SSS): 2Q22 Vs. 2Q21 38.7% Vs. 2Q19 25.9% • Despite the normalization of economic activities and
Slide 4: Message from the CEO (continued)
Earnings Release 2Q22 Dine-in same store sales are up 30.2% versus the same quarter of last year, a clear sign that as all relevant mobility restrictions have been lifted, our customers value our in-store experience and our high-quality products more than ever. Also, delivery sales increased 13.1% c
Slide 5: Financial Highlights for the Second Quarter of 2022
Earnings Release 2Q22 Mexico City, July 28th, 2022. Today, Alsea, S.A.B. de C.V. (BMV: ALSEA*), the leading Quick Service Restaurant (QSR), Coffee Shop, Casual Dining and Family Restaurant operator in Latin America and Europe, released its results for the second quarter of 2022. This information is
Slide 6: Consolidated Results: Sales
Earnings Release 2Q22 NUMBER OF UNITS *Note: Total units (corporate + sub franchises) CONSOLIDATED RESULTS SALES SALES BY GEOGRAPHY* SALES BY SEGMENT* *Figures as of 2Q22, excluding restatement for hyperinflation in Argentina Net Sales in the second quarter of 2022 increased by 35.8% to reach 16,939
Slide 7: Net Sales and EBITDA
Earnings Release 2Q22 Importantly, casual dining brands reported a solid recovery, with a same store sales growth of 30.2% compared to the second quarter of 2021, and 2.0% compared to the second quarter of 2019. The fast-food segment also continues with its positive performance, with same-store sale
Slide 8: Net Income
Earnings Release 2Q22 NET INCOME Net income for the second quarter increased by 180 million pesos to 237 million pesos, compared to 57 million pesos for the same period of the previous year. The increase was due to an 821 million peso increase in operating income, resulting from the recovery in sale
Slide 9: Results by Segment: Mexico
Earnings Release 2Q22 RESULTS BY SEGMENT FOR THE SECOND QUARTER OF 2022 MEXICO Pre-IFRS 16 Post-IFRS 16 Alsea Mexico 2Q22 2Q21 Var. % Var. 2Q22 2Q21 Var. % Var. Number of Units 2,192 2,169 23 1.1% 2,192 2,169 23 1.1% Same-store sales 28.1% 86.0% N.A. - 28.1% 86.0% N.A. - Sales 8,357 6,465 $1,891 29.
Slide 10: Mexico and Europe Results
Earnings Release 2Q22 This increase was offset by a 90-basis point rise in costs as a percentage of sales related to inflationary pressures for some inputs. The increase in operating expenses was mainly due to the effect of profit sharing, which was approximately 70 million pesos in the quarter. Als
Slide 11: Adjusted EBITDA Europe and South America
Earnings Release 2Q22 Adjusted EBITDA EUROPE Alsea Europe's Adjusted EBITDA represented 31.2% of the consolidated Adjusted EBITDA in the second quarter of 2022, and reported an increase of 131 million pesos, reaching 1,451 million pesos, compared to 1,320 million pesos in the same period of 2021. Th
Slide 12: South America Adjusted EBITDA and Non-Operating Results
Earnings Release 2Q22 Adjusted EBITDA SOUTH AMERICA Alsea South America's adjusted EBITDA was 14.6% of the consolidated Adjusted EBITDA in the second quarter of 2022, and increased by 335 million pesos compared to 2Q21, reaching 679 million pesos. This increase was primarily due to the reduction thr
Slide 13: Bank and Public Debt
Earnings Release 2Q22 Excluding the effect of IFRS16, Alsea’s total debt decreased by 2,883 million pesos, to close at 28,677 million pesos compared to 31,560 million pesos on the same date last year. The Company's consolidated net debt, including leases due to IFRS16, decreased 5,672 million pesos,
Slide 14: Financial Ratios and Key Information
Earnings Release 2Q22 FINANCIAL RATIOS As of June 30th, 2022, the financial ratios were: • Total Debt to EBITDA (last 12 months) was 3.5 times. • Net Debt to EBITDA (last 12 months) was 3.2 times • EBITDA (last 12 months) to interest paid (last 12 months) was 3.2 times. • In terms of liquidity, at t
Slide 15: Units by Brand
Earnings Release 2Q22 UNITS BY BRAND BRANDS UNITS 2Q22 Corporate Sub franchises Total Domino’s Pizza 842 481 1,323 Mexico 446 367 813 Spain 297 67 364 Colombia 99 47 146 Burger King 405 - 405 Mexico 174 - 174 Argentina 114 - 114 Spain 55 - 55 Chile 62 - 62 Quick Service Restaurants 1,247 481 1,728 S
Slide 16: Units by Country and Analyst Coverage
Earnings Release 2Q22 UNITS BY COUNTRY MEXICO 2,192 SPAIN 1,092 ARGENTINA 245 CHILE 216 FRANCE 204 COLOMBIA 220 NETHERLANDS 93 BELGIUM 35 PORTUGAL 24 URUGUAY 11 LUXEMBOURG 4 ANALYST COVERAGE INSTITUTION ANALYST RECOMMENDATION ACTINVER VALENTIN MENDOZA BALDERAS HOLD BANK OF AMERICA MERRILL LYNCH ROBE
Slide 17: Relevant Events 2Q22
Earnings Release 2Q22 RELEVANT EVENTS 2Q22 • On April 29th, 2022. Alsea, S.A.B. de C.V. (BMV: ALSEA*) informed that it was notified by Mexico’s Tax Administration Service (SAT) regarding the resolution to the appeal filed by Alsea against the settlement order, in which the SAT claimed payment of tax
Slide 18: Consolidated Balance Sheet
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET STATEMENTS AS OF JUNE 30TH, 2022 and 2021 (In thousands of nominal pesos) June 30th, June 30th, 2022 2021 ASSETS Current assets: Cash and short-term investments 5,042,752 6.3% 3,830,343 4.8% Clients 1,234,552 1.5
Slide 19: Consolidated Income Statement – Three Months
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS FOR THE THREE MONTHS ENDED JUNE 30TH, 2022 AND 2021 (In thousands of nominal pesos) Three months ended Three months ended June 30th, June 30th, 2022 2021 Net sales $ 16,939,128 100% $ 12,477,368 100% Cost of
Slide 20: Consolidated Income Statement by Segment – Three Months
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS BY SEGMENT FOR THE THREE MONTHS ENDED JUNE 30TH, 2022 AND 2021 (In thousands of nominal pesos) Three months ended Three months ended MEXICO June 30th, June 30th, 2022 2021 Net sales $ 8,356,719 100% $ 6,465,3
Slide 21: Consolidated Income Statement – Six Months
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS ENDED JUNE 30TH, 2022 AND 2021 (In thousands of nominal pesos) Six months ended Six months ended June 30 June 30 2022 2021 Net sales $ 32,167,301 100% $ 22,689,082 100% Cost of sales 10,388,
Slide 22: Consolidated Cash Flow Statement – Six Months
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30TH, 2022 AND 2021 (In thousands of nominal pesos) June 30th, June 30th, 2022 2021 Operating activities: Consolidated result before income taxes $ 1,062,206 $ (549,160) Items
Slide 23: Consolidated Balance Sheet with Restatement and IFRS 16
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET STATEMENT AS OF JUNE 30TH, 2022 (In thousands of nominal pesos) June 30th, Argentinian IFRS June 30th, 2022 Restatement 16 2022 ASSETS Current assets: Cash and short-term investments 5,042,752 8.8% - - 5,042,752
Slide 24: Income Statement Three Months with Adjustments
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT FOR THE THREE MONTHS ENDED JUNE 30TH, 2022 (In thousands of nominal pesos) Three months ended Argentinian IFRS Three months ended June 30th, Restatement 16 June 30th, 2022 2022 Net sales $ 16,793,388 100% 145,
Slide 25: Income Statement by Segment with Adjustments
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS BY SEGMENT FOR THE THREE MONTHS ENDED JUNE 30TH, 2022 (In thousands of nominal pesos) Three months ended IFRS Three months ended MEXICO June 30th, 16 June 30th, 2022 2022 Net sales $ 8,356,719 100% - $ 8,356,
Slide 26: Income Statement Six Months with Adjustments
Earnings Release 2Q22 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS ENDED JUNE 30TH, 2022 (In thousands of nominal pesos) Six months ended Argentinian IFRS Six months ended June 30th Restatement 16 June 30th 2022 2022 Net sales $ 31,958,231 100% 209,070 - $