AmRest Holdings S.E. — Earnings Release 2020

Feb 3, 2021

RB 2/2021 Q4 2020 Preliminary sales results;AmRest Holdings SE ("AmRest"or the "Group") hereby provides a business update on fourth quarterpreliminary sales, comparable sales trends and the status of restaurantsoperating.;During the fourth quarter of 2020, given the emergence of a‘second wave' of COVID19 cases visible across most of our geographies,restrictions have again been put in place affecting our industry'sability to open restaurants and the sales channels we are allowed tooperate. As a reflection of those measures, the share of open stores hasbeen declining to approximately 92% at the end of December, down from98% at the end of the previous quarter.;The group's preliminary sales inthe respective period amounted to EUR 397.5m, implying a 24.9% decreasecompared to the same period last year, while quarter-to-quarter saleswere 9.9% lower compared to Q3 2020. Full year 2020 sales reached EUR1,522.9m, a 22.4% decline versus 2019 sales.;On same-store-sales basisexcluding F/X and adjusting for temporarily closed stores, the indexreached 78.8% in Q4 2020, down from 86.6% during Q3 2020.;Preliminarysales of the CEE division amounted to EUR 171.6m in Q4 2020 and were26.0% lower compared to Q4 2019 and 13.6% lower compared to the previousquarter. Full year 2020 figures stood at 685.5m, a 18.3% declinecompared to the previous year.;The Russian segment generated revenues ofEUR 38.3m in Q4 2020, 31.3% lower compared to the corresponding periodin 2019 and 10.6% less than the Q3 2020. Full year sales reached 152.5m,26.2% less versus 2019.;Sales in the Western Europe division in Q4 2020amounted to EUR 158.2m, which was lower by 24.8% compared to Q4 2019 and5.4% lower than in the quarter before. From a full year perspective,sales amounted to EUR 582.8m, a 26.8% decline versus the previousyear.;In China, sales amounted to EUR 22.6m in Q4 2020, an increase of2.9% compared to Q4 2019 and a 8.3% decline compared to the previousquarter. Full year 2020 sales performance at EUR 76.4m was 14.7% lowerthan 2019.;Revenues reported under segment "Other" reached EUR 6.8m andwere 22.8% lower than year ago and 15.5% lower than in the quarterbefore. On a full year basis, EUR 25.7m were generated, representing a12.7% decline versus 2019.;"Our teams have entered the second wave ofthe pandemic and the re-emergence of restrictions well prepared. We havetaken the learnings from events unfolding earlier in the year, fullyfocused at being close to the customer, offering a safe, convenient andreliable service, while at the same time optimizing revenues andprofitability from sales channels still available to us.;As a result ofour efforts, we managed to keep well over 90% of our stores operatingeven during the final weeks of the year, when regulatory headwinds havebeen most intense. It's an outcome significantly better than during lastspring and an achievement I am very proud of.;The same applies to samestore sales and the number you see is a reflection of the efforts andinitiatives executed. Naturally those steps we are taking are aimed atmitigating short term headwinds presented to our industry, but we areconvinced that resulting benefits will last well beyond the end of thecrisis. The combination of people, brands and scale is powerful, and weknow how to leverage off those strengths, also and especially in timesof disruption." - says Mark Chandler, CEO of AmRest.;Legal act: Art. 17Sec. 1 of Regulation (EU) No 596/2014 of The European Parliament and ofThe Council of 16 April 2014 on market abuse (Market Abuse Regulation)and repealing Directive 2003/6/EC of the European Parliament and of theCouncil and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC