Q3 Sales Announcement

NZX/ASX
25 October 2023

Q3 SALES ANNOUNCEMENT

Restaurant Brands New Zealand Limited (“RBD”) has today released its Q3 sales results.

FY23 Q3 Sales Results
RBD total sales for the third quarter to 30 September 2023 increased to $340.9 million. This was up $18.8 million (+5.8%) over the equivalent period last year. This reflects ongoing recovery from the impacts of the 2022 COVID-19 Omicron outbreak and the price increases that were implemented across all markets.

Total year to date sales reached $981.1 million (an increase of 8.2% on the prior year). Total sales were supported by the net inclusion of 5 new stores (to 377 stores in total) and the strengthening US dollar since the equivalent period last year.

New Zealand
Third quarter sales for New Zealand were $148.0 million, up 7.6% in total and 5.0% on a same store basis. Sales grew across all brands, largely driven by price increases and the easing of pandemic-related trading constraints.

Total year to date sales were $420.4 million, an increase of 8.0% on the prior year and 5.6% on a same store basis. Store numbers increased by two to 145 stores during the quarter with the opening of a Carl’s Jr. in Hamilton and a Taco Bell in Otahuhu. In addition to the 145 company owned stores, the business has 114 Pizza Hut stores run by independent franchisees (an increase of six stores from December 2022).

Australia
Australia’s sales for the third quarter were $A74.1 million ($NZ80.1 million), an increase of 13.0% in total on the prior year. Same store sales were up 8.0% (local currency). Mall and city store sales have recovered to near pre-COVID-19 levels.

Total year to date sales were $A214.3 million ($NZ232.0 million). This is an increase of 13.8% on a total basis on the prior year and 9.1% on a same store basis.

Store numbers remained constant at 85 stores during the quarter.

Hawaii
Sales for the third quarter in Hawaii were $US40.3 million ($NZ66.6 million), an increase of 0.9% on a total basis, and up 5.7% on a same store basis (local currency).

Hawaii trading has solidified around the new highs achieved during last year and the new stores opened in 2022 continued to produce strong trading results. Total year to date sales were $US119.6 million ($NZ193.6 million), an increase of 3.1% on a total basis and 3.7% on a same store basis.

Store numbers decreased by two during the quarter to 71 stores with the loss of the Pizza Hut and Taco Bell stores in Lahaina during the large fire. These stores were fully insured and are planned to be rebuilt in 2024.

California
California’s sales in the third quarter were $US27.9 million ($NZ46.2 million), a decrease of 1.8% on a total basis and 3.3% on a same store basis (local currency).

Same store sales have reduced on the prior year largely due to customers shifting to value-orientated menu and promotional items.

Total year-to-date sales were $US83.4 million ($NZ135.1 million), a decrease of 1.0% on a total basis and 3.6% on a same store basis.

Store numbers remained constant at 76 stores during the quarter.

For more information: [email protected]

Authorised by:
Arif Khan
Group CEO
+64 9 525 8700

Julio Valdés
Group CFO
+64 9 525 8700

Ends

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Announcement PDF