AmRest Holdings SE · GPW:EAT

AmRest — H1 2017 Earnings Presentation

25 slides from AmRest's earnings presentation, Sep 15, 2017

  1. Slide 1: AmRest Holdings SE H1 2017 Presentation for Investors

    AmRest Holdings SE H1 2017 Presentation for Investors September 15th, 2017

  2. Slide 2: Teleconference details

    Teleconference details • AmRest H1 2017 results are included in the H1 2017 Financial Report which is available to download from Investor Relations section at: http://www.amrest.eu • The recording of this Teleconference will be available at our website within 24 hours AmRest participants: Henry Foun

  3. Slide 3: Executive summary H1 2017

    Executive summary H1 2017 • Record-high results for the second quarter • 27% top line growth in Q2 2017, driven by positive LFL trends, new openings and M&As • 17% growth of EBITDA in Q2 2017 to PLN 149m • Core business driving results of the Group • EBITDA w/o the impact of M&As grew by 21% • Stron

  4. Slide 4: Our restaurants

    Our restaurants Total: 1 460 China: 44 4

  5. Slide 5: New restaurants openings

    New restaurants openings* • 36 stores opened in Q2 2017: 20 in Central Europe, 5 inRussia, 6 in Western Europe (5 TAG Spain, 1 KFC), 5 Blue Frog in China, • 79 stores opened in 2017 YTD (till September 14th, 2017): 41 in Central Europe, 12 in Russia, 18 in Western Europe (11 TAG, 3 KFC, 2 SBx, 2 Piz

  6. Slide 6: Continued growth in the number of restaurants

    Continued growth in the number of restaurants 4 40 47 282 4 32 45 275 305 19% 4 25 41 3 2 17 40 100 92 1 11 35 67 77 10 61 223 37 70 209 35 53 70 187 39 68 171 71 170 145 27 122 12 21 24 8 13 70 559 4 79 77 464 519 77 383 428 64 310 348 [1] 202 223 239 127 166 2006 2007 2008 2009 2010 2011 2012 2013

  7. Slide 7: Financial highlights Q2 2017

    Financial highlights Q2 2017 • Sales at PLN 1 243m (+27% vs LY) • CE PLN 617m (+15%) • Russia PLN 150m (+29%) • Western Europe PLN 390m (+54%) • China PLN 73m (+49%) • EBITDA at PLN 149m (+17% vs LY) • EBITDA margin at 12% (-1pp vs LY) • Net profit* at PLN 33m (-9% vs LY) • Net debt/EBITDA ratio at

  8. Slide 8: Q2 2017 financials by segments

    Q2 2017 financials by segments +15.0% 617 SALES [mPLN] 536 +53.7% 390 254 +29.0% 150 +22.9% 116 59 73 Q2 2016 Q2 2017 Q2 2016 Q2 2017 Q2 2016 Q2 2017 Q2 2016 Q2 2017 CE Russia Western Europe China Adjusted EBITDA 15.2% 15.6% 13.9% 13.2% 15.6% 10.1% 10.3% 17.9% margin 8

  9. Slide 9: H1 2017 financials by segments

    H1 2017 financials by segments +15.6% SALES [mPLN] 1 202 1 040 +61.7% 741 +40.4% 458 +20.3% 288 205 110 133 H1 2016 H1 2017 H1 2016 H1 2017 H1 2016 H1 2017 H1 2016 H1 2017 CE Russia Western Europe China Adjusted EBITDA 14.5% 14.6% 12.2% 10.9% 17.0% 9.2% 5.2% 13.1% margin 9

  10. Slide 10: Q2 2017 financials – key figures

    Q2 2017 financials – key figures Thousand PLN Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 TTM [1] Sales 858 221 977 055 1 157 569 1 214 524 1 147 400 1 243 141 4 762 634 Sales growth [2] 14.4% 20.7% 34.4% 32.3% 33.7% 27.2% 31.8% Adjusted EBITDA [3] 113 596 139 690 166 605 168 547 121 081 162 101

  11. Slide 11: Outlook

    Outlook • Positive outlook for reminder of 2017 • Continued growing sales trends across the board • Strong performance of core business in major markets • Ambitious plan of 200+ openings in 2017 on track. Solid pipeline for 2018 secured • Further integration of acquired businesses • Finalization of

  12. Slide 12: 3 years guidance

    3 years guidance Sales growth •Double-digit organic growth •Potential M&A activity EBITDA • Strong EBITDA growth driven by sales and margin improvement • EBITDA above Capex 20%+ ROIC on expansion Capex • Improved ROIC on existing investments through growing margins, • Prudent capital allocation (80/

  13. Slide 13: IR contact

    IR contact Michał Serwatka [email protected] tel. +48 71 3861 246 mobile: +48 519 191 246 Dorota Surowiec [email protected] tel. +48 71 3861 235 mobile: +48 519 191 235 13

  14. Slide 14: Backup

    Backup

  15. Slide 15: Our unique proposition

    AmRest strategy Leverage our WJM culture, international capability and superior brand portfolio to grow scalable, highly profitable restaurants globally BRAND Superior brand portfolio PEOPLE WJM culture Scalable and highly profitable restaurants (20% ROIC) SCALE International capability Our unique p

  16. Slide 16: Franchised brands – Superior brand portfolio

    Franchised Superior BRAND portfolio – AmRest unique approach brands Global # 1 in Chicken Category 47 restaurants Fresh chicken and genuine food 3 countries 559 restaurants Craveable taste Within AmRest since 2007 9 countries Innovative design and order system Global # 2 in Burger Category Within Am

  17. Slide 17: Proprietary brands – Superior brand portfolio

    Proprietary Superior BRAND portfolio – AmRest unique approach brands # 1 in Italian category in Spain Authentic Italian cuisine Best quality ingredients sourced in Italy 223 restaurants Almost 30 years expertise 4 countries Fine dining experience at casual dining price Within AmRest since 2011 Uniqu

  18. Slide 18: EAT factsheet

    EAT factsheet Ticker EAT (AmRest) Listing WSE Free float Free float 28.56% 28.56% Unicredit, mBank, Wood&Co, Trigon, Raiffeisen Centrobank Nationale- FCapital Analyst AG, Noble Securities, IPOPEMA, Nederlanden Dutch B.V.[2] Coverage ERSTE, DM PKO BP, DM Banku OFE 61.85% BPS, BM Bank BGŻ 9,59% Number

  19. Slide 19: H1 2017 segment reporting

    H1 2017 segment reporting H1 2017 H1 2016 PLN '000 Share Margin Share Margin Sales 2 390 541 1 835 276 Poland 730 498 30.6% 658 149 35.9% Czech Republic 261 936 11.0% 226 638 12.3% Hungary 134 252 5.6% 97 087 5.3% Other CE 75 444 3.2% 58 359 3.2% Total CE 1 202 130 50.3% 1 040 233 56.7% Russia 287 9

  20. Slide 20: Q2 2017 segment reporting

    Q2 2017 segment reporting Q2 2017 Q2 2016 PLN '000 Share Margin Share Margin Sales 1 243 141 977 055 Poland 371 090 29.9% 337 931 34.6% Czech Republic 136 764 11.0% 117 392 12.0% Hungary 69 869 5.6% 50 215 5.1% Other CE 39 065 3.1% 30 688 3.1% Total CE 616 788 49.6% 536 226 54.9% Russia 149 632 12.0

  21. Slide 21: Q2 2017 consolidated P&L

    Q2 2017 consolidated P&L [ PLN '000] Q2 2017 % of sales Q2 2016 % of sales Restaurant sales 1 167 546 913 440 Franchise and other sales 75 595 63 615 Total sales 1 243 141 977 055 Company operated restaurant expenses: Food and material -336 192 -27.0% -275 700 -28.2% Payroll and employee benefits -2

  22. Slide 22: H1 2017 consolidated P&L

    H1 2017 consolidated P&L [ PLN '000] Q2 2017 % of sales Q2 2016 % of sales Restaurant sales 2 250 342 1 713 170 Franchise and other sales 140 199 122 106 Total sales 2 390 541 1 835 276 Company operated restaurant expenses: Food and material -659 753 -27.6% -523 723 -28.5% Payroll and employee benef

  23. Slide 23: Q2 2017 net profit and adjusted EBITDA reconciliation

    Q2 2017 net profit and adjusted EBITDA reconciliation [ PLN '000] Q2 2017 % of sales Q2 2016 % of sales Q2 vs Q2 % of change Restaurant sales 1 167 546 93.9% 913 440 93.5% 254 106 27.8% Franchise and other sales 75 595 6.1% 63 615 6.5% 11 980 18.8% Total sales 1 243 141 977 055 266 086 27.2% 0.0% Ne

  24. Slide 24: H1 2017 net profit and adjusted EBITDA reconciliation

    H1 2017 net profit and adjusted EBITDA reconciliation [ PLN '000] H1 2017 % of sales H1 2016 % of sales H1 vs H1 % of change Restaurant sales 2 250 342 94.1% 1 713 170 93.3% 537 172 31.4% Franchise and other sales 140 199 5.9% 122 106 6.7% 18 093 14.8% Total sales 2 390 541 1 835 276 555 265 30.3% N

  25. Slide 25: AmRest portfolio

    AmRest portfolio Countries Brands 31.12.2006 31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 31.12.2013 31.12.2014 31.12.2015 31.12.2016 31.03.2017 30.06.2017 14.09.2017 Poland 131 139 158 188 206 256 279 299 320 346 389 389 399 412 KFC 79 85 94 110 121 150 163 179 191 206 222 222

AmRest Holdings — H1 2017 Earnings Presentation on 6ix