AmRest Holdings SE · GPW:EAT
AmRest — H1 2020 Earnings Presentation
21 slides from AmRest's earnings presentation, Sep 25, 2020
Slide 1: AmRest Investor Presentation 1H20
AmRest | Investor Presentation 1H20 25 September 2020
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/Q2 2020 results are available for download at: http://www.amrest.eu The
Slide 3: 2Q20 highlights & current trading
2Q20 highlights & current trading 3 Sales €272.1m 78.8% 93% 13 Sales SSS index* Stores operating Openings Growth versus €411.9m in 1Q20 in June 2020 as of end of June 2020 versus 57 LY. Overall 31 in and €482.8m 2Q19 versus 48.8% in April’20 versus 44% end of March H1 vs. 83 LY 8.1% €218m €15.5m Mar
Slide 4: 2Q20 financial highlights
2Q20 financial highlights 4 Highlights Executive Summary Date 2Q’20 2Q’19 Y/Y 1Q’20 Q/Q Restaurants* 2 318 2 195 123 2 320 (2) ▪ Net cash from operations as % of revenue up to 23.7% Operational** 77% 100% (23pp) 81% (4pp) in 2Q20 compared to 18.9% last year. Quarter-to- Equity openings 13 43 -30 14
Slide 5: 1H20 financial highlights
1H20 financial highlights 5 Highlights Executive Summary Date 1H 2020 1H 2019 Y/Y Restaurants* 2 318 2 195 123 ▪ Cash balance improved by EUR 73.0m from end of 2019 Operational** 79% 100% (21pp) to EUR 217.7m as a result of strong execution around Equity openings 27 65 (38) recovery in the business
Slide 6: Segment breakdown | CEE
Segment breakdown | CEE 6 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Sales recovery visible as in April, May and 389.1 22.5% 21.5% June were down 58.1%, 31.5% and 15.0% 315.4 18.1% yoy. At the same time number of stores 16.8% operating, as of end of a month, but still 203.3
Slide 7: Segment breakdown | WE
Segment breakdown | WE 7 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Improving sales trends month by month in 386.4 15.6% 15.5% Q2 at the levels of (79.1%), (49.3%) and (29.6%) yoy in April, May and June, 257.3 respectively. At the same time percentage 195.7 59.7 2.4% of ope
Slide 8: Segment breakdown | Russia
Segment breakdown | Russia 8 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Month by month sales trend in Q2 at the 95.9 21.7% levels of (65.9%), (59.5%) and (47.0%) yoy 20.3% 71.4 in April, May and June, respectively. At the 52.0 13.5% same time percentage of opened 9.5% 19.5
Slide 9: Segment breakdown | China
Segment breakdown | China 9 General Summary Segment sales [EURm] EBITDA [EURm] & EBITDA Margin ▪ Month by month sales in Q2 down at the 44.0 30.9% 30.0% levels of 36.8%, 9.0% and 18.5% yoy in 27.8% April, May and June, respectively. At the 29.1 24.3 19.0% same time percentage of opened 19.2 12.2 res
Slide 10: Appendix
Appendix Investor Presentation H1’20 25.09.2020 10
Slide 11: Restaurants portfolio
Restaurants portfolio 11 Period 2016-YTD Bacoa, Sushi Shop, Pokai, Lepieje, • New brands oi’ Poke Slovakia, Portugal, Armenia, Azerbaijan, Slovenia, Austria, • New markets Belgium, Italy, Swiss, Luxembourg, UK, UAE, Saudi, Netherlands • Net new added 1 414 Period 2011-2015 • New brands La Tagliatell
Slide 12: AmRest footprint
AmRest footprint 12 Europe + ME Russia + China As of end of June As of end of June 264 5 1 557 11 274 191 2 3 3 14 72 7 2 130 328 1 8 54 15 3 24 UAE & SA 6 329 3 11 # Equity | # Franchise # Equity | # Franchise Virtual Country Total Country Brands Total China -|- -|- -|- -|- -|- -|- 67 | 4 -|- 1|- 6
Slide 13: Key figures
Key figures 13 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 TTM mEUR IFRS16 IFRS16 IFRS16 IFRS16 IFRS16 IFRS16 IFRS16 Revenue 444.9 482.8 504.8 529.0 411.9 272.1 1 717.8 Revenue growth [1] 28.1% 32.5% 28.7% 19.4% (7.4%) (43.6%) (2.6%) EBITDA 76.8 89.0 100.6 128.0 42.6 22.0 293.2 EBITDA margin 17.
Slide 14: Financial statement: Segment breakdown H1
Financial statement 14 Segment breakdown H1 % % % % H1 2020 2019 H1 2020 2019 of sales of sales of sales of sales Margin Margin SALES 684.0 100.0% 927.7 100.0% Adj. EBITDA** 65.8 9.6% 169.9 18.3% Poland 174.7 25.5% 217.5 23.4% Poland 28.6 16.4% 42.6 19.6% Czech Republic 74.7 10.9% 92.1 9.9% Czech Re
Slide 15: Financial statement: Segment breakdown Q2
Financial statement 15 Segment breakdown Q2 % % % % Q2 2020 2019 Q2 2020 2019 of sales of sales of sales of sales Margin Margin SALES 272.1 100.0% 482.8 100.0% Adj. EBITDA** 22.2 8.2% 91.5 19.0% Poland 73.9 27.2% 112.9 23.4% Poland 14.3 19.3% 23.2 20.6% Czech Republic 32.7 12.0% 48.3 10.0% Czech Rep
Slide 16: Financial statement: EBITDA bridge
Financial statement 16 EBITDA bridge H1/Q2 6 months ended 30 June 2020 6 months ended YoY EBITDA BRIDGE H1 IFRS16 impact with IFRS16 impact 30 June 2019 excluded Amount % of sales Amount % of sales % of change Profit/(loss) for the period (162.3) (23.7%) 11.0 1.2% (1 575.5%) + Finance costs 33.2 4.9
Slide 17: Financial statement: Balance sheet
Financial statement 17 Balance sheet Assets 30-Jun-20 31-Dec-19 Diff Equity and liabilities 30-Jun-20 31-Dec-19 Diff PPE 511.1 584.9 (73.8) Total equity 297.5 476.7 (179.2) Right-of-use 779.3 852.7 (73.4) Loans 155.4 656.0 (500.6) Goodwill 317.2 350.2 (33.0) Lease 683.5 719.4 (35.9) Intangible 245.1
Slide 18: Financial statement: Cash flow H1
Financial statement 18 Cash flow H1 Operating and investing 30-Jun-20 30-Jun-19 Financing 30-Jun-20 30-Jun-19 Profit/(loss) before tax (172.5) 15.3 Shares-based transactions 0.0 0.0 D&A 129.4 121.7 Proceeds from loans 136.9 46.2 Impairment 73.1 8.6 Repayments of loans (25.8) (15.5) Net interest 22.5
Slide 19: Financial statement: Cash flow Q2
Financial statement 19 Cash flow Q2 Operating and investing 30-Jun-20 30-Jun-19 Financing 30-Jun-20 30-Jun-19 Profit/(loss) before tax (124.5) 8.2 Shares-based transactions 0.0 0.4 D&A 65.0 62.9 Proceeds from loans 55.3 11.8 Impairment 73.1 8.1 Repayments of loans (4.0) (3.0) Net interest 11.5 10.5
Slide 20: Factsheet
Factsheet 20 Shareholder structure** Listing details Warsaw (since 2005) Listing venues: Madrid (since 2018) ISIN: ES010537500 Shares issued: 219.6m Other free float; 19.59% Analyst coverage Aviva OFE,3.67% WOOD&CO Raiffeisen Bank Nationale- FCapital Dutch B.V.*; PKO BP JB Capital Netherlanden OFE;
Slide 21: Disclaimer
DISCLAIMER 21 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.