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Highlights

  • RBD achieved record total sales of NZD 1,393.6 million in FY24, up 5.4% from the prior year.
  • RBD operated 521 stores globally as of 31 Dec 2024, including 381 company-owned and 140 franchised outlets.
  • The company declared an NZD 22.5 million special dividend but withheld a final dividend to support store investment.

Restaurant Brands New Zealand Ltd (NZX: RBD) is a multi-national corporate franchisee managing over 300 branded food retail outlets including KFC, Pizza Hut, Carl’s Jr., Starbucks, and Taco Bell across New Zealand, Australia, Hawaii, Guam, and Saipan, with headquarters in Auckland and a workforce of over 9,000.

In the financial year ended 31 December 2024 (FY24), RBD recorded a net profit after tax (NPAT) of NZD 26.5 million, up 62.6% YoY from the prior year, supported by strategic initiatives around cost control, operational efficiencies, and revenue management. Group Store EBITDA increased by 8.9% YoY to NZD 194.3 million, with margins improving to 13.9% of sales, up from 13.5% in FY23, supported by the margin recovery campaign of the company.

Total store sales reached a record NZD 1,393.6 million in FY24, a 5.4% increase from the previous year. Meanwhile, bank debt declined to NZD 284.5 million, with a Net Debt to EBITDA ratio of 1.8:1. Capital expenditure reduced in FY24, supporting positive cash flow and NZD 22.5 million special dividend.

As of 31 December 2024, RBD operated a total of 521 stores, comprising 381 company-owned outlets and 140 franchised locations. The network spans across 155 owned stores in New Zealand, 70 in Hawaii, 85 in Australia and 71 in California.

Within the portfolio, there are 141 Pizza Hut stores in New Zealand, the majority of which 135 outlets are independently owned and operated by franchisees.

Company outlook

Restaurant Brands remains cautiously optimistic about its future performance, as ongoing investments and market-specific strategies are assisting in margin recovery and brand resilience across key regions. Despite persistent pressures in the quick-service restaurant (QSR) sector, the company continues to prioritise long-term growth.

Share performance of RBD

RBD shares closed at NZD 2.96 on 29 July 2025, down 1.33% intraday. In a year, RBD’s share price has declined by 2.78%, with a steeper fall of 10.30% in the past three months and 25.99% over six months.
The 52-week high for RBD is NZD 4.32, recorded on 14 January 2025, while the 52-week low stands at NZD 2.7583, marked on 9 August 2024.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 29 July 2025. The reference data in this report has been partly sourced from EODHD/Others.