AmRest Holdings SE · GPW:EAT
AmRest — H1 2019 Earnings Presentation
20 slides from AmRest's earnings presentation, Aug 29, 2019
Slide 1: AmRest Investor Presentation H1 2019
1 AmRest Investor Presentation H1 2019 29 August 2019 More than 25 years of success… …and yet, we are just getting started 1
Slide 2: Speakers
Speakers 2 Mark Chandler Eduardo Zamarripa Peter Kaineder Chief Executive Officer Chief Financial Officer Chief Strategy Officer Aleksandra Tajak Dorota Surowiec Robert Patrzykąt Global Controller IR Manager IR Manager AmRest H1 2019 results are available for download at: http://www.amrest.eu The re
Slide 3: Highlights
Highlights 3 1 Solid top line growth (+32.5% yoy) and margin (EBITDA* 10.9%) development in 2Q19 2 Year-to-date 84 store openings (as of June), on track for about 300 gross openings in 2019 3 Management confident to achieve and re-iterating targets for the full year SBX Germany turnaround bearing fr
Slide 4: 2Q19 financial highlights
2Q19 financial highlights 4 Highlights QTD (excluding the impact from IFRS16) 2Q 2018 Executive Summary Date 2Q 2019 1Q 2019 2Q 2018** YoY** (restated) • Revenue growth at 32.5% in 2Q’19 vs. last year to EUR Restaurants 2,179 2,133 1,744 1,744 +435 482.8m. Core sales (w/o M&A’s from the last 12 mont
Slide 5: 1H19 financial highlights
1H19 financial highlights 5 Highlights YTD (excluding the impact from IFRS16) 1H 2018 Executive Summary Date 1H 2019 1H 2018** YoY** (restated) • Solid top-line growth of 30.4% in 1H’19 vs. last year to Restaurants 2,179 1,744 1,744 +435 EUR 927.7m driven by strong core sales dynamics (w/o Equity op
Slide 6: Segment breakdown | CEE
Segment breakdown | CEE 6 General Summary Store-count Segment capex** [EURm] • +18 new openings in 2Q’19 and +29 in 1H, 34.7 31.3 mainly in KFC and SBX. 21.1 • YTD sales grew at 15.8% vs. last year to EUR 19.3 389.1m with non-IFRS 16 EBITDA at EUR 55.0m 873 882 899 or 14.1% (+0.2pp). 767 790 • Solid
Slide 7: Segment breakdown | WE
Segment breakdown | WE 7 General Summary Store-count Segment capex** [EURm] 32.9 • +23 new openings in 2Q’19 and +33 in 1H driven by SSG, KFC Spain and SBX Germany. 23.1 • Revenue reached EUR 386.4m in 1H’19 (+54.4% 511 515 528 15.1 350 368 yoy) with non-IFRS 16 EBITDA at EUR 32.3m or 10.5 8.3% (-0.
Slide 8: Segment breakdown | Russia
Segment breakdown | Russia 8 General Summary Segment capex** [EURm] 9.0 • +12 new openings in 2Q’19 and +18 in 1H driven Store-count 8.4 by KFC and PH. 6.1 5.6 • Sales in 1H’19 grew by 17.3% to EUR 95.9m, while non-IFRS 16 EBITDA margin reached 11.4% 217 218 221 192 200 (-1.4pp vs. last year, exclud
Slide 9: Segment breakdown | China
Segment breakdown | China 9 General Summary Segment capex** [EURm] 2.8 2.8 • +4 new openings in 2Q’19 and in 1H. Store-count 2.2 2.0 • Year-to-date sales reached EUR 44.0m and grew by 24.4% vs. last year, while EBITDA margin improved by 0.8pp to 13.2% or EUR 5.8m. 57 63 62 64 51 • In 2Q’19 revenue i
Slide 10: Outlook FY 2019
Outlook FY 2019 10 Metric Target Comment Store openings (gross) Ca. 300 Reiterated Top-line growth YoY Mid to High Twenties Reiterated EBITDA vs. LY Flat margin Reiterated Capex 2019 w/o M&A Ca. EUR 250m Reiterated
Slide 11: AmRest Capital Markets Day
AmRest Capital Markets Day 11 AmRest Investor Relations: Dorota Surowiec Jointly hosted with WOOD&CO dorota.surowiec@amrest.eu tel. +48 71 3861 235 mobile: +48 519 191 235 Robert Patrzykąt • A unique opportunity to deep-dive into the most recent industry robert.patrzykat@amrest.eu trends and how AmR
Slide 12: Appendix
Appendix Investor Presentation H1 2019 29.08.2019 12
Slide 13: Restaurants portfolio
Restaurants portfolio 13 Period 2016-YTD • New brands Bacoa, Sushi Shop, Pokai Slovakia, Portugal, Armenia, Azerbaijan, Slovenia, Austria, • New markets Belgium, Italy, Swiss, Luxembourg, UK, UAE, Saudi, Netherlands • Net new added 1 274 Period 2011-2015 • New brands La Tagliatella, Blue Frog 27 Per
Slide 14: AmRest footprint
AmRest footprint 14 Europe + ME Russia + China 252 5 1 523 10 259 2 168 2 2 10 64 6 2 107 322 1 8 46 11 3 23 UAE & SA 5 333 3 10 # Equity | # Franchise # Equity | # Franchise Country Total Country Total Poland 267 | - 142 | - 42 | - 71 | - -|- -|- 1|- -|- -|- 523 | 0 China -|- -|- -|- -|- -|- -|- 61
Slide 15: Key figures
Key figures 15 Q1 2019 Q2 2019 TTM [5] mEUR Q1 2018 Q2 2018 [4] Q3 2018 Q4 2018 non IFRS16 IFRS16 non IFRS16 IFRS16 non IFRS16 Revenue 347.4 364.3 392.3 442.9 444.9 444.9 482.8 482.8 1 762.9 Revenue growth [1] 30.8% 23.6% 23.2% 23.3% 28.1% 28.1% 32.5% 32.5% 26.9% EBITDA 33.7 41.3 49.7 48.3 42.1 76.8
Slide 16: Financial statement: Segment breakdown 2Q 2019
Financial statement 16 Segment breakdown – 2Q 2019 2019 with % 2019 w/o % 2018 % 2019 with % 2019 w/o % 2018 % 2Q 2019 2Q 2019 IFRS 16 of sales IFRS 16 of sales (restated) of sales IFRS 16 of sales IFRS 16 of sales (restated) of sales Margin Margin Margin SALES 482.8 - 482.8 - 364.3 - Adj. EBITDA**
Slide 17: Financial statement: Segment breakdown 1H 2019
Financial statement 17 Segment breakdown – 1H 2019 2019 with % 2019 w/o % 2018 % 2019 with % 2019 w/o % 2018 % 1H 2019 1H 2019 IFRS 16 of sales IFRS 16 of sales (restated) of sales IFRS 16 of sales IFRS 16 of sales (restated) of sales Margin Margin Margin SALES 927.7 - 927.7 - 711.6 - Adj. EBITDA**
Slide 18: Financial statement: EBITDA bridge 1H 2019
Financial statement 18 6 months ended 30 June 2019 6 months ended YoY EBITDA BRIDGE 1H 2019 IFRS16 impact with IFRS16 impact IFRS16 impact excluded 30 June 2018 excluded Amount % of sales Amount % of sales Amount % of sales % of change Profit/(loss) for the period 11.0 1.2% 19.8 2.1% 13.1 1.8% 51.1%
Slide 19: Factsheet
Factsheet 19 Shareholder structure (June 30th 2019) Listing details Warsaw (since 2005) Listing venues: Madrid (since 2018) ISIN: ES010537500 Shares issued: 219.6m Market Cap.: EUR 2.0 bn Other free float; 20.10% Aviva OFE; 3.19% Analyst coverage Artal International Berenberg PKO BP S.C.A; 4.78% FCa
Slide 20: Disclaimer
DISCLAIMER 20 Disclaimer 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.