Shareholder value proposition

Investment Case

  • Proudly the largest Master Franchisee of the largest pizza company on the planet and leading digital QSR

  • Clear market leader in all countries, with a geographically diverse portfolio

  • Leadership has long tenure, with deep franchising experience

  • A globally recognised QSR innovator

  • Capital light store model, with strong Franchisee returns

  • Hybrid Franchise/Corporate model optimising benefits of both platforms:

    • Franchising: capital light, with entrepreneurial innovation

    • Corporate stores: leading best-practice, accelerating growth & ability to further leverage scale


Well-Balanced High-Performance Portfolio

ANZ

  • Clear market leader

  • Best-in-class unit economics

  • High operating leverage

  • World-leading healthy franchise system

Europe

  • High growth, market-leading platform

  • Significant store runway

  • Strategic footprint, with adjacent acquisitions possible

  • Market highly fragmented, offering opportunity to gain market share

Japan

  • Large Corporate store system

  • High cash flow business

  • Significant potential to improve returns

  • Goal to increase footprint by +60% within the next 7 years


Targeting Long-Term Shareholder Value Creation

  • Targeting sizable store additions and sales growth, as we strengthen and deepen our position as market leader

  • Market position forecast to strengthen as we continue to focus on operational execution, through Project 3-10

  • Strong balance sheet, with exceptional cash conversion

  • Long runway of store growth and continued prospects for acquisitive growth

  • Consistent history of strong dividends

  • Strong track-record of significant shareholder returns, with 10-year EPS CAGR of 24.1%

  • Excellent EPS growth prospects into the future