• Binding agreement signed with Yum! Brands to accelerate growth in Germany
• Decision to exit Taco Bell business, with intention to complete transition within next 12 months
• Focus on operational excellence to lift same-store sales and drive cost efficiencies

Collins Foods Ltd has announced a strategic review and management changes, including a binding agreement with Yum! Brands to accelerate growth in Germany, with a target of 40 to 70 new KFC restaurant openings over the next 5 years. The company has also decided to exit the Taco Bell business, with the intention to complete the transition within the next 12 months. As part of the strategic review, the company will focus on operational excellence to lift same-store sales performance and drive cost efficiencies. This includes reviewing and optimizing the existing restaurant portfolio, aiming to deliver sustainable profitability. The company has also appointed new operational leaders for Europe and Australia to drive same-store sales growth, margin improvement, and provide great customer service and experiences. Additionally, the company expects a non-cash impairment of approximately $25.5 million to $32.7 million in FY25 related to the strategic changes.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics.

The company has not provided any detailed forward-looking outlook statements.