India · Delayed Price · Currency is INR Restaurant Brands Asia Earnings Call Transcripts
Fiscal Year 2026
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Q4 saw record SSSG of 6.3% and gross margin at 70.2%, with India operations driving strong growth and digital adoption. Indonesia's Burger King turned EBITDA positive, but Popeyes remains a drag. Inspira Global acquisition is nearing completion.
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Q3 FY26 saw robust revenue and margin growth, with 11 consecutive quarters of positive sales and strong digital adoption. India led profitability, Indonesia showed turnaround progress, and a major equity infusion from Inspira will support future expansion.
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Q2 revenue grew 15.6% YoY to INR 568 crores, with gross margin up to 68.3% and strong dine-in and delivery traffic. Indonesia's Burger King shows steady ADS growth, but Popeyes remains a challenge. Store expansion and margin improvement initiatives continue.
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India delivered 12.6% revenue growth and improved margins, driven by strong dine-in traffic, digital adoption, and value menu strategies. Indonesia's Burger King business turned EBITDA positive, while Popeyes is piloting a new model amid ongoing challenges. Demand remains tight, with value offerings outperforming premium.
Fiscal Year 2025
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FY 2025 saw 11.8% revenue growth, 58 new stores, and a 32% rise in company-level EBITDA, with gross margin improving to 67.7%. India’s digital and café initiatives drove traffic, while Indonesia showed early recovery signs amid ongoing cost rationalization.
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Achieved 510 stores in India with strong dine-in and digital growth, while Indonesia saw early signs of recovery but remains challenged. India posted double-digit revenue growth and margin expansion; Indonesia focused on cost control and operational turnaround.
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India delivered resilient profitability with growing dine-in traffic and improved delivery margins, despite negative SSSG. Indonesia faced macro and geopolitical headwinds, but is focusing on cost control and new product launches to drive recovery.
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India delivered record revenue and margin expansion, with nine straight quarters of positive SSSG and robust digital adoption. Indonesia faced geopolitical headwinds but achieved store-level EBITDA positivity after rationalization. Growth and profitability are expected to accelerate in the second half.