Restaurant Brands Fourth Quarter Sales

9 March 2017 NZX Restaurant Brands' Full Year Sales Close to $500 million, up 28% Restaurant Brands' total sales for the 12 months ended 27 February were $497.2 million, up 28.3% on the prior year. New Zealand operations generated sales of $400.0 million, up 3.2%, with an additional $97.2 million generated by the 42 KFC outlets in Australia (acquired in April 2016). Group same store sales for the year were +3.0% with Pizza Hut and KFC New Zealand both up 3.6%, Starbucks Coffee up 4.5% and Carl's Jr, slightly down at -3.8%. The Company finished the year strongly with fourth quarter sales of $121.6 million, an increase of 36.8% or $32.7 million on the equivalent period last year. There was positive same store sales growth for all brands, up 6.0% in total, led by KFC New Zealand at +7.1%, Starbucks Coffee up 6.6%, Pizza Hut up 1.6% and Carl's Jr. ending the quarter with positive same store sales of +0.4%. Total company store numbers were up by 39 on the equivalent period last year to 212 with the Australian acquisition, off-set by Pizza Hut store sales to independent franchisees. KFC New Zealand Year to date sales for KFC New Zealand were $296.5 million, an increase of 4.9% on a total basis and up 3.6% on a same store basis. Total sales in the fourth quarter for KFC New Zealand were $70.7 million, up 9.0% or $5.8 million on the equivalent period last year. This is rolling over an increase of 4.2% the year before. Same store sales for the quarter were also up strongly by +7.1%. Store numbers remained steady at 92 during the quarter. Pizza Hut Year to date sales for Restaurant Brands owned Pizza Hut stores were $40.5 million, an increase of 3.6% on a same store basis. Total quarterly sales for Restaurant Brands owned Pizza Hut stores were $9.0 million, a decrease of 9.2% on the equivalent period last year, due to having four fewer stores as the company continued its strategy of selling stores to independent franchisees. Same store sales for the quarter increased by 1.6%. Company owned stores reduced by one during the quarter to 35 versus 39 in the prior year with the Invercargill store sold to an independent franchisee. There are now 58 Pizza Hut stores operated by independent franchisees with one new store in Hastings opened during the quarter. This has brought the total network to 93 stores. As a brand, Pizza Hut continued to grow strongly with the total network sales for the quarter up 6.0% on prior year. Starbucks Coffee Full year sales for Starbucks Coffee were $26.7 million, up 4.5% on a same store basis. Starbucks Coffee total sales for the fourth quarter were $6.6 million, a slight decrease on the equivalent period last year, but with one less store. Same store sales for the quarter were up 6.6% (rolling over a 5.5% increase in the prior year). There were 24 stores trading at the end of the quarter, down one versus the previous year. Carl's Jr. Full year sales for Carl's Jr. were $36.3 million, an increase of 9.0% on a total basis. Sales for the year were down 3.8% on a same store basis, but finished the year with positive growth. Total sales for the fourth quarter were $8.2 million, up 11.2% on the equivalent period last year with a net increase of one store. Carl's Jr. enjoyed a second quarter of positive same store sales growth in succession, up 0.4%. During the quarter the Company closed the Carl's Jr. restaurant in Otahuhu due to poor trading at the location. With two store openings during the year and the one closure, net store numbers have increased by one from the equivalent period last year to 19 at the end of the quarter. KFC Australia On 27 April 2016 Restaurant Brands acquired 42 KFC stores in New South Wales, Australia. The 42 acquired stores contributed AUD$92.5 million (NZD$97.2 million) in total sales in the ten months since acquisition. Total sales of AUD$25.8 million (NZD$27.1 million) were made during the fourth quarter, which is an increase of 8% on a same store basis over the equivalent period last year. Store numbers remained steady at 42 during the quarter. For further information please contact Russel Creedy Grant Ellis CEO CFO/Company Secretary Phone: 525 8700 Phone: 525 8700 ENDS RESTAURANT BRANDS NEW ZEALAND LIMITED Quarterly Sales Report Summary of Results for the 4th Quarter (Q4) (for the 12 weeks 6/12/2016 to 27/02/2017) 2016/17 ($000's) 2015/16 ($000's) % change Q4 2016/17 vs Q4 2015/16 Total Store Sales - KFC New Zealand 70,726 64,890 9.0% Total Store Sales - Pizza Hut 8,977 9,889 -9.2% Total Store Sales - Starbucks Coffee 6,555 6,661 -1.6% Total Store Sales - Carl's Jr. 8,248 7,415 11.2% Total Store Sales - New Zealand 94,506 88,855 6.4% Total Store Sales - KFC Australia * 27,072 - - Total Store Sales 121,578 88,855 36.8% Same Store Sales - KFC New Zealand 68,799 64,228 7.1% Same Store Sales - Pizza Hut 8,599 8,460 1.6% Same Store Sales - Starbucks Coffee 6,462 6,063 6.6% Same Store Sales - Carl's Jr. 7,291 7,264 0.4% Same Store Sales - New Zealand 91,151 86,015 6.0% Same Store Sales - KFC Australia * N/A - - Total Same Store Sales 91,151 86,015 6.0% YTD 2016/17 vs YTD 2015/16 Total Store Sales - KFC New Zealand 296,466 282,532 4.9% Total Store Sales - Pizza Hut 40,492 44,872 -9.8% Total Store Sales - Starbucks Coffee 26,693 26,812 -0.4% Total Store Sales - Carl's Jr. 36,347 33,351 9.0% Total Store Sales - New Zealand 399,998 387,567 3.2% Total Store Sales - KFC Australia * 97,181 - - Total Store Sales 497,179 387,567 28.3% Same Store Sales - KFC New Zealand 290,557 280,360 3.6% Same Store Sales - Pizza Hut 39,450 38,097 3.6% Same Store Sales - Starbucks Coffee 26,488 25,345 4.5% Same Store Sales - Carl's Jr. 31,939 33,192 -3.8% Same Store Sales - New Zealand 388,434 376,994 3.0% Same Store Sales - KFC Australia * N/A - - Total Same Store Sales 388,434 376,994 3.0% NUMBER OF STORES OPEN AT QUARTER END Qtr End no of Stores - KFC New Zealand 92 91 1 Qtr End no of Stores - Pizza Hut 35 39 -4 Qtr End no of Stores - Starbucks Coffee 24 25 -1 Qtr End no of Stores - Carl's Jr. 19 18 1 Total Store no - New Zealand 170 173 -3 Qtr End no of Stores - KFC Australia 42 - 42 Total Stores 212 173 39 AUSTRALIAN SALES IN AUD Q4 2016/17 vs Q4 2015/16 Total Store Sales - KFC Australia 25,838 - - Same Store Sales - KFC Australia N/A - - YTD 2016/17 vs YTD 2015/16 Total Store Sales - KFC Australia 92,471 - - Same Store Sales - KFC Australia N/A - - * Note: - Blended AUD:NZD rate for Q4 0.954 - - - Blended AUD:NZD rate for YTD 0.952 - - End CA:00298040 For:RBD Type:QUARTER Time:2017-03-09 09:37:15