Alsea (ALSEA) Investor Day 2026 summary

Strategic priorities and growth direction

• Focus on disciplined, organic, and profitable growth through portfolio optimization, expansion in high-return markets, and four strategic pillars: care, build, growth, and capitalize, supported by talent, culture, and innovation.

• Clear roadmap for growth includes selective divestments, addition of high-potential brands like Chipotle and Raising Cane's, and capitalizing on white space opportunities.

• Identified potential for 3,400 additional stores across all regions, with a balanced mix of corporate and franchise units and disciplined capital allocation.

• Shift from country-based to brand-based organizational structure and integration of Mexico and South America to drive agility and efficiency.

• Accelerating same-store sales through remodeling, innovation, and enhanced customer experience.

Financial guidance and capital allocation

• 2026 guidance targets 5%-7% revenue growth, 6%-8% EBITDA growth (pre-IFRS16), and EBITDA margin at or above 14.1% (pre-IFRS16) and ≥21.4% (post-IFRS16).

• Plan to open 180-220 new units (70% corporate, 30% franchise), with 65% in Mexico, 30% in Europe, and 5% in South America.

• CapEx of MXN 5.5 billion in 2026, with 65% for new units and remodels, 20% for maintenance, and 15% for IT/digitalization.

• Remodels prioritized at a 2:1 ratio to new openings, with payback expected at 20-25% and strong ROI.

• Enhanced financial flexibility with improved debt maturity profile, net leverage target of 2x net debt/EBITDA pre-IFRS, and plans for increased buybacks/dividends upon reaching this level.

Brand and market developments

• Domino's aims for 2,000 stores and $1.3 billion in sales by 2026, leveraging digital channels and operational innovation, with a sustainable CAGR of 5–7%.

• Starbucks targets MXN 35 billion in sales by 2026, MXN 5 billion EBITDA by 2027, and aims to double its store footprint, focusing on employer excellence and digital innovation.

• Full-service restaurants in Mexico and Spain plan to reach $1 billion in sales each, focusing on expansion, remodeling, franchise growth, and operational agility.

• Chipotle and Raising Cane's to launch in Monterrey in 2026, with national rollout from 2028, targeting 600 stores and $1.4 billion in Mexico, focusing on high-growth fast casual and QSR protein segments.

• France remains a strategic market despite challenges, with EUR 6 million investment planned for recovery.