Q3 2024 Boston Pizza Royalties Income Fund Earnings Call Transcript

Nov 07, 2024 / 04:30PM GMT

Release Date Price: €11.41 (-2.61%)

Transcript

Key Points

Positve

Boston Pizza Royalties Income Fund (BPZZF) maintained stable franchise sales in the third quarter, aligning with previous quarters in 2024.
Effective promotional campaigns, such as the summer patio campaign and fall-inspired menu, resonated well with guests.
The Boston Pizza kids cards promotion generated over $1 million for the foundation, marking a 6% increase compared to 2023.
The fund's net and comprehensive income increased by $4.5 million for the quarter compared to the third quarter of 2023.
Cash flows generated from operating activities increased by $0.3 million compared to the third quarter of 2023.

Negative

Franchise sales from restaurants in the Royalty Pool decreased by 0.6% for the quarter and 0.1% year-to-date compared to the same periods one year ago.
Same restaurant sales were negative 0.6% for the quarter, primarily due to macroeconomic challenges.
No new restaurants were opened during the third quarter, and one restaurant was closed.
The fund's payout ratio increased to 88.9% for the quarter, up from 82.9% in the third quarter of 2023.
Distributable cash decreased by $0.2 million or 1.8% for the quarter compared to the same period in 2023.

Operator

Hello, this is the chorus call conference operator. Thank you for standing by. Welcome to Boston Pizza's third quarter, 2024 conference call.(Operator Instructions) The conference has been recorded on November 7, 2024.

(Operator Instructions) Participants on the call may also pose questions via email to Boston Pizza's Investor Relations Department at [email protected].

(Operator Instructions) At this time, I'd like to turn the conference over to Michael Harbinson, Chief Financial Officer. Please go ahead.

Michael Harbinson

Boston Pizza Royalties Income Fund - Chief Financial Officer, Director

Thank you, and welcome to the call. Today, we'll be discussing the 2024 third quarter results for both Boston Pizza Royalties Income Fund, or the Fund, and for Boston Pizza International, or BPI. For complete details on our financial results, please see our third quarter materials filed earlier today on SEDAR+ or visit the Fund's website at bpincomefund.com. Should you require additional information after the call, you can reach us via

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