Strong performance from Restaurant Brands in 1H 2025 has seen new store openings and new QSR innovations introduced.
Restaurant Brands New Zealand Limited has announced a new record for total Group store sales, delivering NZD 703.2 million for the six months ended 30 June 2025, up 2.3 percent on the prior period.
Group store sales growth was underpinned by a strong performance in Hawaii and supported by new store openings in New Zealand.
This result was achieved despite persistent macroeconomic headwinds and shifting consumer patterns across the global Quick Service Restaurant (QSR) sector. Group NPAT was NZD 11.9 million, down 5.6 percent on the same period last year, and Group Store EBITDA was NZD 90.7 million, down NZD 3.9 million or 4.1 percent.
Margin recovery was tempered by increased labour, energy and rental costs, as well as higher aggregator charges, and a slower-than-anticipated macroeconomic improvement across several regions. These conditions have limited the impact of strategic initiatives, including cost control measures, operational efficiencies, and pricing programmes.
RBD Chairman José Parés said the first-half result reflected both the resilience of RBD’s brands and the agility of its teams.
“We have navigated an extended period of cost pressure and economic uncertainty. Prolonged inflationary pressures, cost-of-living constraints, and value-focused customer behaviour continued to shape trading across key markets during the half year, yet the Group continues to grow top-line sales, focusing on profitability and protecting our brand position in all markets,” said Parés.
“Our teams have responded strongly to changing customer needs and market conditions. We continue to progress our growth strategy with a focus on margin recovery, digital capability, operational efficiency, and targeted investment into our store development pipeline. These initiatives are delivering measurable improvements, and momentum is expected to continue through 2025.”
Chief Executive Officer Arif Khan said the Group remained focused on disciplined execution in each market.
“Affordability and value-for-money are becoming increasingly central to consumer purchase decisions. Across all markets, we are evolving menus, expanding digital channels, upgrading store formats, and enhancing the customer experience,” said Khan.
“The positive customer response to recent menu innovations, promotional programmes and digital service enhancements has supported transaction volumes, improved store sales in Hawaii and reinforced our brand positioning across all markets.”
Khan added that the focus will remain on strengthening our brands in each market while advancing the strategic priorities that will position RBD for sustainable, profitable growth.
As at 30 June 2025, the Group had bank debt facilities totalling NZD 383.8 million, with bank debt of NZD 238.1 million, placing it comfortably within all banking covenants with a Net Debt to EBITDA ratio of 1.6:1.
One new RBD-owned store was opened in 1H 2025, reaching 16 net new stores from 1H 2024. The ongoing store refurbishment programme was maintained, with the store portfolio optimised to focus on key growth areas.
As at 30 June 2025, Restaurant Brands’ store numbers totalled 522 (380 owned and 142 franchised), including 156 owned stores in New Zealand, 83 in Australia, 70 in Hawaii, and 71 in California. Of the 143 Pizza Hut stores in New Zealand, 137 are owned by independent franchisees.
New Zealand store sales were NZD 309.7 million, up NZD 0.1 million on 1H 2024, primarily driven by the opening of five new stores in 2H 2024 and one further KFC store in 1H 2025. Same-store sales declined 3.1 percent due to prevailing inflationary conditions in the hospitality and retail sectors, which continue to impact consumer spending, particularly in Auckland and Wellington. Store EBITDA was NZD 46.9 million, down 4.7 percent on 1H 2024, due to higher aggregator costs and labour rates, partly offset by cost savings and margin improvement initiatives. The robust Pizza Hut network in New Zealand opened two new stores by independent franchisees, to the total of 143 stores (137 franchised) as at 30 June 2025. One new KFC store opened in 1H 2025, in addition to the five new stores in 2H 2024, for a total of 156 RBD-owned stores in New Zealand.
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