Restaurant Brands Third Quarter Sales

13 December 2018 ASX/NZX Restaurant Brands' Third Quarter Sales Up 4.7% with Strong Growth in Overseas Operations Restaurant Brands' total sales for the third quarter of the financial year (12 weeks to 3 December 2018) were $181.5 million, an increase of 4.7% or $8.2 million on the equivalent period last year. New Zealand operations generated sales of $94.7 million, down 2.2% on a total basis and up 2.2% on a same store basis. Australian KFC outlets produced sales of $NZ44.3 million, up 18.8% on a total basis, and 2.4% on a same store basis (local currency). Hawaiian operations generated sales of $NZ42.5 million, up 8.5% on a total basis and 3.6% on a same store basis (local currency). Year to date sales were $612.5 million, an increase of 9.5% over the prior year on a total basis. Total company store numbers were down by 26 on the equivalent period last year to 284, primarily because of the sale of the 22 Starbucks Coffee stores in October and the sale of five New Zealand Pizza Hut stores to independent franchisees. KFC New Zealand Total third quarter sales for KFC New Zealand were $77.2 million, an increase of 5.0% on the equivalent period last year and up 4.1% on a same store basis for this quarter. Year to date sales for KFC New Zealand were $256.5 million, an increase of 5.2% in total and up 3.9% on a same store basis. Store numbers remained steady at 94 during the quarter, and one higher than last year. Pizza Hut New Zealand Total third quarter sales for Restaurant Brands-owned Pizza Hut stores were $7.6 million, a decrease of 18.3% on the equivalent period last year. Same store sales for the quarter decreased by 6.1%. Year to date sales for Restaurant Brands-owned Pizza Hut stores were $28.0 million, a decrease of 12.8% in total, and down 5.2% on a same store basis. Restaurant Brands-owned store numbers were steady through the quarter and down by five from last year to 29 as five Pizza Hut stores were sold to independent franchisees. There are now 67 Pizza Hut stores operated by independent franchisees, with the total network at 96 stores. Network total sales for the quarter were $23.1 million, an increase of 0.3%. Year to date network total sales were $79.0 million, an increase of 1.3%. Starbucks Coffee Starbucks Coffee total sales for the third quarter were $3.0 million, 50.3% lower in total due to the sale of the 22 stores completing during the quarter. Same store sales for the quarter were up 5.0%. Year to date sales for Starbucks Coffee were $16.0 million, an increase of 4.0% on a same store basis. Carl's Jr. Total Carl's Jr. sales for the third quarter were $7.0 million, a decrease of 13.9% on the equivalent period last year with the network having one less store than last year. Same store sales for the quarter were down by 8.3%. Year to date sales for Carl's Jr. were $24.4 million, a decrease 9.2% on a total basis and 3.9% on a same store basis. Store numbers remained steady at 18 during the quarter. KFC Australia Third quarter sales for KFC Australia were $A40.9 million ($NZ44.3 million), an increase of 21.3% on a total basis and 2.4% on a same store basis (local currency). Year to date sales for KFC Australia were $A136.4 million ($NZ147.7 million), an increase of 35.8% on a total basis and 3.8% on a same store basis (local currency). Store numbers increased by one to 62 stores during the quarter with one new store opening. Total store numbers are three higher than last year from the acquisition of two stores and one new store opening. Taco Bell Hawaii Total Taco Bell sales for the third quarter were $US16.7 million ($NZ25.1 million), an increase of 7.2% on a total basis and 8.1% on a same store basis (local currency). Year to date sales for Taco Bell were $US55.4 million ($NZ81.2 million), an increase of 6.0% on a total basis and 4.7% on a same store basis (local currency). Store numbers remained steady at 36 during the quarter, and reduced by one on last year with the closure of the Taco Bell Pearlridge store due to the lease expiring. Pizza Hut Hawaii Total Pizza Hut Hawaii sales for the third quarter were $US11.7 million ($NZ17.5 million), a decrease of 0.1% on a total basis and 2.4% on a same store basis (local currency). Year to date Pizza Hut Hawaii sales were $US40.1 million ($NZ58.7 million), an increase of 3.0% on a total basis and a decrease of 2.1% on a same store basis (local currency). Store numbers remained steady at 45 during the quarter. For further information please contact: Russel Creedy Grant Ellis CEO CFO/Company Secretary Phone: 525 8710 Phone: 525 8710 ENDS RESTAURANT BRANDS NEW ZEALAND LIMITED Quarterly Sales Report Summary of Results for the 3rd Quarter (Q3) (for the 12 weeks 11/09/18 to 03/12/18) 2018/19 ($000's) 2017/18 ($000's) Change Total Store Sales ($NZ) Q3 2018/19 vs Q3 2017/18 KFC New Zealand 77,213 73,549 5.0% Pizza Hut New Zealand 7,566 9,258 -18.3% Starbucks Coffee 2,973 5,977 -50.3% Carl's Jr. 6,958 8,079 -13.9% New Zealand 94,710 96,863 -2.2% KFC Australia * 44,270 37,279 18.8% Taco Bell * 25,068 22,422 11.8% Pizza Hut Hawaii * 17,460 16,778 4.1% Hawaii * 42,528 39,200 8.5% Total Store Sales 181,508 173,342 4.7% YTD 2018/19 vs YTD 2017/18 KFC New Zealand 256,477 243,856 5.2% Pizza Hut New Zealand 28,018 32,120 -12.8% Starbucks Coffee 16,022 19,402 -17.4% Carl's Jr. 24,419 26,882 -9.2% New Zealand 324,936 322,260 0.8% KFC Australia * 147,661 109,143 35.3% Taco Bell * 81,183 73,372 10.6% Pizza Hut Hawaii * 58,716 54,697 7.3% Hawaii * 139,899 128,069 9.2% Total Store Sales 612,495 559,472 9.5% * - Converted at exchange rates on following page Same Store Sales (Local Currency) Q3 2018/19 vs Q3 2017/18 KFC New Zealand 75,996 73,037 4.1% Pizza Hut New Zealand 7,346 7,822 -6.1% Starbucks Coffee 2,973 2,832 5.0% Carl's Jr. 6,957 7,590 -8.3% New Zealand ($NZ) 93,271 91,281 2.2% KFC Australia ($A) 33,020 32,239 2.4% Taco Bell 16,429 15,195 8.1% Pizza Hut Hawaii 11,292 11,570 -2.4% Hawaii ($US) 27,721 26,765 3.6% YTD 2018/19 vs YTD 2017/18 KFC New Zealand 251,097 241,727 3.9% Pizza Hut New Zealand 27,242 28,743 -5.2% Starbucks Coffee 15,993 15,374 4.0% Carl's Jr. 24,415 25,397 -3.9% New Zealand ($NZ) 318,746 311,241 2.4% KFC Australia ($A) 100,154 96,458 3.8% Taco Bell 53,166 50,793 4.7% Pizza Hut Hawaii 37,603 38,416 -2.1% Hawaii ($US) 90,769 89,210 1.7% RESTAURANT BRANDS NEW ZEALAND LIMITED Quarterly Sales Report Summary of Results for the 3rd Quarter (Q3) (for the 12 weeks 11/09/18 to 03/12/18) 2018/19 ($000's) 2017/18 ($000's) Change Total Store Sales (Local Currency) Q3 2018/19 vs Q3 2017/18 KFC Australia ($A) 40,933 33,741 21.3% Taco Bell 16,743 15,618 7.2% Pizza Hut Hawaii 11,670 11,686 -0.1% Hawaii ($US) 28,412 27,304 4.1% YTD 2018/19 vs YTD 2017/18 KFC Australia ($A) 136,413 100,460 35.8% Taco Bell 55,383 52,246 6.0% Pizza Hut Hawaii 40,113 38,938 3.0% Hawaii ($US) 95,496 91,185 4.7% 2018/19 2017/18 Change Number Of Stores Open At Quarter End KFC New Zealand 94 93 1 Pizza Hut New Zealand 29 34 -5 Starbucks Coffee - 23 -23 Carl's Jr. 18 19 -1 New Zealand 141 169 -28 KFC Australia 62 59 3 Taco Bell 36 37 -1 Pizza Hut Hawaii 45 45 - Hawaii 81 82 -1 Total Stores 284 310 -26 Exchange Rates - Blended $A:$NZ rate for Q3 0.925 0.905 0.020 - Blended $A:$NZ rate for YTD 0.924 0.920 0.003 - Blended $US:$NZ rate for Q3 0.668 0.697 -0.028 - Blended $US:$NZ rate for YTD 0.683 0.712 -0.029 Note: Some Sales numbers for each of the concepts may not aggregate in total due to rounding. End CA:00328283 For:RBD Type:MKTUPDTE Time:2018-12-13 08:59:40