Q3 2024 Restaurant Brands Asia Ltd Earnings Call Transcript
Key Points
- Restaurant Brands Asia Ltd (BOM:543248) reported a 20% year-over-year revenue growth, reaching INR 445 crores.
- The company achieved a 2.6% positive same-store sales growth (SSSG) driven primarily by increased traffic.
- Highest-ever company EBITDA of INR 70 crores, a 48% increase year-over-year.
- The company has successfully built 38 new restaurants this quarter, surpassing their target with a total of 452 restaurants.
- Digital initiatives like the King's Journey have been implemented in 68 restaurants, enhancing customer experience and operational efficiency.
- Geopolitical tensions in Indonesia have negatively impacted the dine-in business, leading to a 1% year-over-year decline in ADS.
- Despite efforts, the Indonesia business has not yet achieved the expected breakeven and has pushed the target to next year.
- The company revised its same-store sales growth (SSSG) guidance from 6% to 3% due to industry headwinds.
- There was a sequential decline in ADS in the India business, attributed to seasonality and weaker-than-expected December sales.
- The company faces challenges in maintaining profitability in Indonesia, with a need for further cost optimization and traffic growth.
Ladies and gentlemen, good day, and welcome to the Restaurant Brands Asia Limited Earnings Conference Call for 3Q FY '24. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Naveen Trivedi. Thank you, and over to you, sir.
Yes. Thank you. On behalf of Motilal Oswal, I would like to welcome you all to the Restaurant Brands Asia's Q3 F '24 Earnings Conference Call. From the management today, we have Mr. Rajeev Varman, CEO and Whole-Time Director; Mr. Sandeep Dey, Brand President, Indonesia; Mr. Sumit Zaveri, Chief Financial Officer; Mr. Kapil Grover, Chief Marketing Officer; and Mr. Prashant Desai, Head of Strategy and Investor Relations.
I would now hand over the call to the management for the opening remarks. Over to you, sir.
Yes. Good evening, guys. This is Raj. Thank you for joining the call this evening. Just
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