Alsea (ALSEA) Investor Presentation summary

Market leadership and brand portfolio

• Operates leading QSR and full-service brands across Mexico, Europe, and South America, serving 440 million customers annually.

• Holds master or sole franchise rights for most brands, with 35 years of contract stability and strong retail partnerships.

• Starbucks and Domino's are key brands, with significant expansion and operational success in multiple countries.

• Diversified portfolio targets all population segments and day parts, mitigating economic downturn impacts.

• Full-service restaurant market valued at over $100 billion, with strong presence in fine and casual dining.

Financial performance and growth

• Achieved MXN $41.3 billion in sales and MXN $5.4 billion EBITDA as of June 2025.

• Sales grew at a 17% CAGR from 2010 to 2024, with consistent EBITDA margin improvement.

• Net debt/EBITDA reduced from 19.0x in 2020 to 2.5x in 2025, with a strong cash position and no near-term debt maturities.

• G&A as a percent of sales improved from 6.3% in 2019 to 5.8% in 2024, targeting ~5.0% by 2029.

• Focus on maximizing long-term shareholder returns through disciplined capital allocation and organic growth.

Operational excellence and efficiency

• Multi-brand strategy unlocks economies of scale, with cost variation below inflation and increased productivity.

• Centralized supply chain, strategic procurement, and shared services drive operational synergies.

• Best-in-class store development process ensures efficient CAPEX and ROI above 20% depending on brand and region.

• Continuous improvements in efficiency and productivity are integral to operations.