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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.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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