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Restaurant Brands Asia (RBA) investor relations material

Restaurant Brands Asia Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary31 Oct, 2025

Executive summary

  • Maintained focus on driving dine-in traffic and digital transformation, with 91% of transactions now digital.

  • Achieved consolidated revenue of INR 7,034 million in Q2 FY26, up 11.2% year-over-year, led by strong India performance and continued store expansion.

  • India operations saw 15.6% revenue growth year-over-year, with 533 stores as of September 30, 2025, and positive same store sales growth.

  • Indonesia's Burger King business shows steady ADS growth, but overall profitability remains challenged and Popeyes continues to underperform.

  • Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

Financial highlights

  • Q2 revenue reached INR 568 crores in India, up 15.6% year-over-year; consolidated revenue was INR 7,034.25 million, up from INR 6,324.28 million in Q2 FY25.

  • Gross margin in India improved to 68.3%, with restaurant EBITDA margin at 10.4% and company EBITDA margin at 5%.

  • Consolidated company EBITDA (pre-Ind AS 116) rose 198.7% year-over-year to INR 113 million.

  • Standalone net loss for Q2 FY26 was ₹202.12 million; consolidated net loss was ₹633.29 million, both showing improvement over the previous year.

  • Indonesia reported a company EBITDA loss of IDR 33 billion, with gross margin at 56.9% and continued negative profitability.

Outlook and guidance

  • Plans to open 60-80 stores annually in India through FY 2029, targeting 800 stores, with most new outlets already under construction.

  • Gross margin target of 70% in India by FY 2029, with improvements expected sooner due to ongoing initiatives.

  • Management continues to focus on expansion and operational efficiency, supported by capital raised through QIP.

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Frequently asked questions

Restaurant Brands Asia Limited is a food services company operating quick-service restaurant chains across multiple markets. The company holds exclusive franchise rights for global brands, focusing on managing and expanding outlets to serve a diverse customer base. It offers a variety of fast-food options, including burgers, sides, beverages, and desserts. The company is headquartered in Mumbai, India, and its shares are listed on the BSE.

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