RESTAURANT BRANDS NEW ZEALAND LIMITED The world's had a rough ride these past two years and COVID-19 restrictions have tested businesses everywhere. As a multi-brand, multi-format, multi-geography company we can take comfort in the resilience that diversity lends our operations. We've had the diverse ways and means to continue to delight our customers - despite the challenges. And from market to market, we've had the best team of people to make sure of it.
ALL WAYS.
ON THE MENU
Financial highlights 04
Year in review 05
Business at a glance 06
Consolidated income statement 62
Non-GAAP financial measures 63
Financial statements December 2021 64
Independent auditor's report 105
Shareholder information 111
A 25 year success story 08
Chairman and CEO's report 12
Business diversification 20
Our people 24
Sustainability report 30
Operations reports
New Zealand 50
Australia 54
Hawaii 56
California 58
Board of Directors 60
Statutory information 113
Statement of corporate governance 116
Corporate directory 125
Financial calendar 125
About Restaurant Brands:
Restaurant Brands New Zealand Limited operates the KFC, Pizza Hut, Taco Bell and Carl's Jr. brands in New Zealand, the KFC and Taco Bell brands in Australia, the KFC and Taco Bell brands in California, and the Taco Bell and Pizza Hut brands in Hawaii and Guam. These brands - four of the world's most famous - are distinguished for their product, look, style, ambience and service and for the total experience they deliver to their customers around the world.
HISTORICAL SUMMARY
FINANCIAL HIGHLIGHTS
All figures in $NZ millions unless stated
FINANCIAL PERFORMANCE
Sales*
New Zealand Australia Hawaii California
Total sales
EBITDA before G&A* New Zealand Australia Hawaii California
Total EBITDA
Operating profit NPAT (reported)
FINANCIAL POSITION/CASH FLOW
Share capital
Total equity Total assets Operating cash flows
SHARES
Shares on issue (year end) Number of shareholders (year end) Basic earnings per share
(full year reported) Ordinary dividend per share
OTHER
Number of stores (year end)
New Zealand
Australia Hawaii California
Total stores
Number of employees New Zealand Australia Hawaii California
Total employees
* Sales and EBITDA before G&A for each of the division may not aggregate to the total due to rounding.
YEAR IN REVIEW
TOTAL SALES ($NZ m)
TOTAL EBITDA ($NZ m)
1,068.2
172.7
146.0
794.0
892.4
129.2
740.8
705.5
122.6
116.0
21
Feb
Dec
Feb
Dec
NPAT (REPORTED) ($NZ m)
TOTAL ASSETS ($NZ m)
51.9
1,329.8 1,180.2
35.5
35.7
879.9
30.1
30.6
453.0 460.3
Feb
Dec
Feb
Dec
TOTAL SALES
TOTAL STORES
Our billion dollar sales target has been achieved with total sales for the year of $1,068.2 million, up against the previous year, with full year positive same store sales growth across all four of our operating divisions.
Total store numbers increased by 11 to 359 including the acquisition of five stores in Australia and two stores in California.
TACO BELL IN THE SOUTHERN HEMISPHERETOTAL EBITDA1
Combined store EBITDA for the period was $172.7 million, up 18.3% on the previous year.
The Taco Bell brand, launched in New Zealand and Australia (New South Wales) in late 2019, has continued to grow with 18 stores now successfully operating in these markets.
NET PROFIT AFTER TAX
DIVIDENDS
Reported net profit after tax of $51.9 million for the year was up $21.3 million on the last year, despite the ongoing adverse impact of COVID-19.
Directors have declared a final dividend of 32.0 cents per share, payable on 22 April 2022 to all shareholders on the register as at 8 April 2022. The dividend will be paid fully imputed to NZ tax resident holders.
1 EBITDA is earnings before interest, tax, depreciation and amortisation. It is a non-GAAP financial measure and is not prepared in accordance with NZ IFRS.
AT A GLANCE
YEAR ENDED 31 DECEMBER 2021
OPEN FOR BUSINESS.
GROUPDIVISIONS
NEW ZEALAND
3,748 EMPLOYEES 241 STORES | SUPPORT OFFICESUPPLY CHAIN Managed by New Zealand logistics team | |||
137 OWNED | 105 | 6 | 10 | 16 |
104
FRANCHISED
5
99
11,440
463
STORES 359 104
54.1m
OUR BRANDS
YUM!
YUM!
YUM!
CKE RESTAURANTS, INC.
EMPLOYEES
OWNEDFRANCHISED
HAPPY CUSTOMERS SERVED IN FY21
FINANCIAL RESULTS
$1.1b
SALES
$51.9m
$172.7m
NPAT
$1.3b
AUSTRALIA
HAWAII (INC. GUAM AND SAIPAN)
EBITDA
CALIFORNIA
ASSETS
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Disclaimer
Restaurant Brands New Zealand Limited published this content on 30 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2022 21:48:55 UTC.
