Restaurant Brands Fourth Quarter Sales

7 March 2019 ASX/NZX Restaurant Brands' Full Year Sales Up 7.2% with Strong Growth in Overseas Operations Restaurant Brands' total sales for the 12 months ended 25 February 2019 were $794.0 million, up 7.2% on the prior year. Restaurant Brands' Chairman Ted van Arkel expressed the Board's satisfaction with this result, particularly the sales achieved by the KFC and Taco Bell brands that have been earmarked for future expansion. New Zealand operations generated sales of $419.8 million, down 0.4% on a total basis mainly as a result of the sale of Starbucks Coffee in October 2018, and up 2.7% on a same store basis. Australian KFC outlets produced sales of $NZ191.5 million, up 27.8% on a total basis with a full year's trading from last year's acquisitions, and 4.7% on a same store basis (local currency). Hawaiian operations generated sales of $NZ182.7 million, up 4.1% on a total basis and 2.0% on a same store basis (local currency). Restaurant Brands' total sales during the fourth quarter of the financial year (12 weeks ended 25 February 2019) were $181.6 million, an increase of $0.2 million or 0.1% on the equivalent period last year. Total company store numbers were down by 31 on the equivalent period last year to 283, primarily because of the sale of the 22 Starbucks Coffee stores in October and the sale of eight New Zealand Pizza Hut stores to independent franchisees. KFC New Zealand Full year sales for KFC New Zealand were $336.5 million, an increase of 5.3% in total and up 4.3% on a same store basis. Fourth quarter sales for KFC New Zealand were $80.1 million, an increase of 5.7% on the equivalent period last year and up 5.6% on a same store basis for this quarter. Store numbers remained steady at 94 during the quarter. Pizza Hut New Zealand Full year sales for Restaurant Brands-owned Pizza Hut stores were $35.4 million, a decrease of 14.0% in total, and down 6.1% on a same store basis. Total fourth quarter sales for Restaurant Brands-owned Pizza Hut stores were $7.3 million, a decrease of 18.5% on the equivalent period last year. Same store sales for the quarter decreased by 9.4%. Restaurant Brands-owned store numbers increased by one during the quarter and down by six from last year to 30, primarily due to eight Pizza Hut stores being sold to independent franchisees. There are now 68 Pizza Hut stores operated by independent franchisees, with the total network at 98 stores. Network total sales for the full year were $101.0 million, an increase of 0.2%. Network sales for the quarter were $22.0 million, a decrease of 3.4%. Starbucks Coffee Full year sales for Starbucks Coffee were $16.0 million, an increase of 4.0% on a same store basis. The 22 Starbucks Coffee stores were sold on 23 October 2018. Carl's Jr. Full year sales for Carl's Jr. were $31.9 million, a decrease 8.8% on a total basis and 3.3% on a same store basis. Total Carl's Jr. sales for the fourth quarter were $7.4 million, a decrease of 7.4% 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 1.5%. Store numbers remained steady at 18 during the quarter. KFC Australia Full year sales for KFC Australia were $A178.3 million ($NZ191.5 million), an increase of 27.8% on a total basis and 4.7% on a same store basis (local currency). Fourth quarter sales for KFC Australia were $A41.9 million ($NZ43.9 million), an increase of 7.2% on a total basis and 6.9% on a same store basis (local currency). Store numbers decreased by one to 61 stores during the quarter with the closure of a store following the opening of a replacement store in Bondi last quarter. Taco Bell Hawaii Full year sales for Taco Bell were $US72.3 million ($NZ106.0 million), an increase of 5.9% on a total basis and 5.1% on a same store basis (local currency). Total Taco Bell sales for the fourth quarter were $US16.9 million ($NZ24.8 million), an increase of 5.6% on a total basis and 6.5% 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 Full year Pizza Hut Hawaii sales were $US52.4 million ($NZ76.7 million), an increase of 1.8% on a total basis and a decrease of 2.1% on a same store basis (local currency). Total Pizza Hut Hawaii sales for the fourth quarter were $US12.3 million ($NZ18.0 million), a decrease of 2.1% on a total and same store basis (local currency). Store numbers reduced by one to 44 during the quarter with the closure of the Pizza Hut Kona store due to the lease expiring. Full Year Result Restaurant Brands will be announcing its full year trading results on Tuesday 16 April. 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 4th Quarter (Q4) (for the 12 weeks 04/12/18 to 25/02/19) 2018/19 ($000's) 2017/18 ($000's) Change Total Store Sales ($NZ) Q4 2018/19 vs Q4 2017/18 KFC New Zealand 80,057 75,741 5.7% Pizza Hut New Zealand 7,331 8,991 -18.5% Starbucks Coffee - 6,416 -100.0% Carl's Jr. 7,446 8,039 -7.4% New Zealand 94,834 99,187 -4.4% KFC Australia * 43,886 42,701 2.8% Taco Bell * 24,822 22,115 12.2% Pizza Hut Hawaii * 18,009 17,300 4.1% Hawaii * 42,830 39,415 8.7% Total Store Sales 181,551 181,303 0.1% YTD 2018/19 vs YTD 2017/18 KFC New Zealand 336,534 319,597 5.3% Pizza Hut New Zealand 35,350 41,111 -14.0% Starbucks Coffee 16,022 25,818 -37.9% Carl's Jr. 31,864 34,921 -8.8% New Zealand 419,770 421,447 -0.4% KFC Australia * 191,547 151,844 26.1% Taco Bell * 106,004 95,487 11.0% Pizza Hut Hawaii * 76,725 71,997 6.6% Hawaii * 182,729 167,484 9.1% Total Store Sales 794,046 740,776 7.2% * - Converted at exchange rates on following page Same Store Sales (Local Currency) Q4 2018/19 vs Q4 2017/18 KFC New Zealand 79,112 74,936 5.6% Pizza Hut New Zealand 6,725 7,427 -9.4% Starbucks Coffee - - - Carl's Jr. 7,345 7,456 -1.5% New Zealand ($NZ) 93,182 89,819 3.7% KFC Australia ($A) 40,096 37,509 6.9% Taco Bell 16,585 15,575 6.5% Pizza Hut Hawaii 12,019 12,272 -2.1% Hawaii ($US) 28,604 27,847 2.7% YTD 2018/19 vs YTD 2017/18 KFC New Zealand 330,209 316,663 4.3% Pizza Hut New Zealand 33,968 36,170 -6.1% Starbucks Coffee 15,993 15,374 4.0% Carl's Jr. 31,759 32,853 -3.3% New Zealand ($NZ) 411,928 401,060 2.7% KFC Australia ($A) 140,250 133,967 4.7% Taco Bell 69,551 66,184 5.1% Pizza Hut Hawaii 49,485 50,547 -2.1% Hawaii ($US) 119,036 116,731 2.0% RESTAURANT BRANDS NEW ZEALAND LIMITED Quarterly Sales Report Summary of Results for the 4th Quarter (Q4) (for the 12 weeks 04/12/18 to 25/02/19) 2018/19 ($000's) 2017/18 ($000's) Change Total Store Sales (Local Currency) Q4 2018/19 vs Q4 2017/18 KFC Australia ($A) 41,896 39,067 7.2% Taco Bell 16,942 16,048 5.6% Pizza Hut Hawaii 12,286 12,554 -2.1% Hawaii ($US) 29,228 28,603 2.2% YTD 2018/19 vs YTD 2017/18 KFC Australia ($A) 178,309 139,527 27.8% Taco Bell 72,324 68,295 5.9% Pizza Hut Hawaii 52,399 51,493 1.8% Hawaii ($US) 124,723 119,787 4.1% 2018/19 2017/18 Change Number Of Stores Open At Quarter End KFC New Zealand 94 94 - Pizza Hut New Zealand 30 36 -6 Starbucks Coffee - 22 -22 Carl's Jr. 18 19 -1 New Zealand 142 171 -29 KFC Australia 61 61 - Taco Bell 36 37 -1 Pizza Hut Hawaii 44 45 -1 Hawaii 80 82 -2 Total Stores 283 314 -31 Exchange Rates - Blended $A:$NZ rate for Q4 0.955 0.915 0.040 - Blended $A:$NZ rate for YTD 0.931 0.919 0.012 - Blended $US:$NZ rate for Q4 0.682 0.726 -0.043 - Blended $US:$NZ rate for YTD 0.683 0.715 -0.033 Note: Some Sales numbers for each of the concepts may not aggregate in total due to rounding. End CA:00331599 For:RBD Type:MKTUPDTE Time:2019-03-07 09:08:48