Savor Limited Analysis

Overview

Savor Limited is the listed entity of Savor Group. Established in 2011, Savor Group is one of New Zealand’s largest hospitality businesses with 13 iconic venues in Auckland, including Azabu Ponsonby, Azabu Mission Bay, Ebisu and Non Solo Pizza, each with its own unique concept, culture and offering. Savor has a reputation for originality, the quality of its products and the high standard of service that is consistent across the company portfolio.

Savor Limited (formerly Moa Group Limited) was formed at the NZX listing of the Moa Brewing Company Limited in 2012. Savor Limited acquired the operations of Savor Group in 2019 in order to obtain size and scale in the hospitality industry. Moa Brewing Company Limited was sold in February 2021 to independent interests

Performance

The following information was extracted from Savor Limited's Half Year Results, released 26 November 2025:

Savor Limited (NZX: SVR) (“Savor”, “the Company”, or with its subsidiaries “the Group”), New Zealand’s premier hospitality group, today provides an update on the start of summer trading and presents its results for the six month period ended 30 September 2025.

Highlights:

• Savor’s revenue for the period was $24.0m, a 6% decline on the prior period, as the Group’s approachable premium positioning continued to deliver value for customers in a period of pressure on discretionary spending.

• Savor’s operating earnings for the period were $1.9m, a reduction of 3% compared to the prior period, and represents an improved net extraction rate by 0.2% compared to the prior period.

• Savor recorded a net loss after tax of $1.1m compared to a loss of $1.1m in the prior period.

The market continues to be challenging, with the pressures of high inflation, increasing operating costs, and more cautious consumer spending. Despite this, the Group has remained resolute in its determination to protect margins and drive cost-out initiatives to reduce the impact on the bottom line.

The contraction in operating earnings for the period relative to the contraction in revenue is testament to this, as the reduction in Group overheads and operating costs has led to significant efficiencies and improvements in profitability