Slides
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1 Half Year Results 2026 Domino’s Pizza group plc 26 weeks ended 28 June 2026 04.08.2026
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Half Year Results 2026 “FOCUS ON CORE” DELIVERED STRONG H1 RESULTS • LFL growth in both Pizza and Chicken • Market share gains across all markets • Profit and Cash flow growth LEVERAGE OUR CORE SKILL SETS • Innovation – Launch of CHICK‘N’DIP and Italianos • Class leading delivery – 25 - minute promise achieved in peak World Cup games • Class leading supply chain - Opening of SCC5 FOCUSSED ORGANIC GROWTH STRATEGY • MORE Customers, MORE Often, MORE Efficiently • Four key levers to growth: CHICK’N’DIP, Loyalty, Aggregators, Supply Chain Productivity • Drives growth beyond 2026 2 DELIVERING RESULTS, BUILDING CONFIDENCE Strong H1 AND CLEAR PLANS FOR GROWTH
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FINANCE update Andrew Andrea CFO
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Half Year Results 2026 - Finance Update 4 H1 26 Financial highlights 1. Excluding splits 2. See “earnings analysis" for more detail on non - underlying TOTAL ORDERS 36.1M +2.9% DPG revenue £353.6m +6.7% LFL SALES 1 +4.9% SYSTEM SALES £825.3m +6.1% Underlying 2 ebitda £66.2m +3.6% Interim Dividend 3.7p +2.8% UNDERLYING FCF 1 £50.2m +74.9% Underlying 2 eps 8.8p +4.8% Strong sales DRIVING EARNINGS AND cash flow GROWTH
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4.5% 5.2% 4.9% 0.9% 2.2% 1.6% LFL System Sales LFL Orders Half Year Results 2026 - Finance Update 5 SYSTEM SALES AND ORDER COUNT TRENDS • LFL sales and order growth in pizza value and order across H1 • Chicken growth contributing to Q2 performance reflecting February launch • Q2 momentum supported by World Cup Quarterly profile Q1 Q2 H1 Trading momentum through PERIOD, CORE PIZZA IN GROWTH
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Half Year Results 2026 - Finance Update 6 SYSTEM AND DPG SALES PERFORMANCE £m HY26 HY25 % change UK system sales 781.7 738.7 +5.8% Ireland system sales 43.6 39.1 +11.5% Total system sales 825.3 777.8 +6.1% Supply chain revenue 215.5 210.3 +2.5% Royalty, rental & other revenue 42.6 40.4 +5.4% Corporate stores revenue 52.5 38.2 +37.4% NAF & eCommerce 43.0 42.6 +0.9% Total DPG reported revenue 353.6 331.5 +6.7% • System sales +6.1% with LFL sales growth of 4.9% and LFL orders up 1.6% • Supply chain revenue up due to higher volumes • Royalty revenue up due to system sales growth • Corporate stores reflecting Victa acquisition and improved underlying sales DPG SALES GROWTH DRIVEN BY SYSTEM SALES PERFORMANCE
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Half Year Results 2026 - Finance Update 7 Earnings analysis • Group EBITDA growth driven by higher SCC profit, royalties and corporate store income • D&A: SCC automation; larger corporate store estate; IT investment • Net finance costs increased due to higher cost of new facility • Non - underlying items: amortisation of reacquired rights • Effective tax rate 23.6% (HY25: 24.5%) • Underlying EPS up 4.8% • Underlying profit up 2.1% • Average shares count down c.2.6% reflecting the benefit of the share buyback programme • Cost outlook: All key lines hedged in 2026 and some into 2027 Underlying, £m HY26 HY25 % change Group EBITDA 66.2 63.9 +3.6% Depreciation & Amortisation (11.8) (10.8) (9.3%) Net finance costs (10.3) (9.4) (9.6%) Profit before tax 44.1 43.7 0.9% Taxation (10.4) (10.7) +2.8% Underlying profit after tax 33.7 33.0 +2.1% Non - underlying items (2.9) (3.1) n/a Statutory profit after tax 1 30.8 29.9 3.0% Underlying basic EPS (p) 8.8p 8.4p +4.8% Statutory basic EPS (p) 8.0p 7.6p +5.3% 1. Statutory profit after tax includes £0.2m of profit attributable to a minority interest Sales driven earnings growth; EPS UP 5%
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Half Year Results 2026 - Finance Update 8 CASH FLOW AND DEBT • Working capital inflow driven through trading • Tax lower due to refunds in HY26 (agreement on UK/ RoI transfer pricing arrangements) • Non - underlying cash relates to activities disclosed in the prior year Debt facilities: • RCF - £300m to 2030 • With extension and accordion options • USPP - £300m • £200m matures in July 2027 • Refinancing planned for Q4 2026 £m HY26 HY25 Group EBITDA 66.2 63.9 IFRS 16 – net lease payments (4.2) (3.9) Working capital 3.2 (12.1) Net interest (8.7) (8.1) Tax (9.4) (11.9) Other 3.1 0.8 Underlying free cash flow 50.2 28.7 Non - underlying cash (2.3) (3.0) Free cash flow 47.9 25.7 Strong cash generation; STRONG BALANCE SHEET
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Half Year Results 2026 - Finance Update 9 INVESTING for growth – 2026 capex spend Supply Chain c.£24m NEW STORE CAPEX c.£3m ECOMM DEVELOPMENT c.£8m Avonmouth SCC open Shorecal & Victa store growth Investment and innovation FY26 capex c.£35m reflecting completion and launch of SCC5
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Half Year Results 2026 - Finance Update 10 CAPITAL ALLOCATION FRAMEWORK Invest in core business Progressive dividend Pay down debt Return surplus capital CAPITAL ALLOCATION PRIORITIES POLICY • Support sustainable growth • Rigorous growth capex discipline – 20% ROC hurdle rate • Sustainable and progressive policy • 1.5x – 2.5x leverage ▪ 2.3x leverage at H1 2026 • Aim to be towards the lower end of range • Focus on organic growth opportunities Clear allocation framework; focus on debt reduction
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Strategic update Nicola Frampton CEO
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Half Year Results 2026 - Strategic Update 12 ORGANIC GROWTH STRATEGY More CUSTOMERS More OFTEN More for less Operational Efficiencies Core innovation Digital Innovation Growth from Leveraging our foundations CHICK’N’DIP Aggregator Growth Loyalty Supply Chain Productivity Additional Growth initiatives Delivering more for all
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Half Year Results 2026 - Strategic Update 13 BUSINESS WITH STRONG FOUNDATIONS > 1,4 00 Stores across UK & ROI 25 - min Delivery time World class supply chain World class franchisees Unmatched position of strength
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Half Year Results 2026 - Strategic Update 14 LEVERAGING OUR FOUNDATIONS PRODUCT - INNOVATION +25% reorder rate IMAGE – BRAND STRENGTH +21.5% orders vs prior year (9-11pm) c.45k order uplift vs prior year Core strengths delivering growth
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Half Year Results 2026 - Strategic Update 15 Domino’s strategy is already delivering 4.32 4.46 2023 2026 YTD Increasing Frequency Strong Customer base 13.8 14.0 2023 2026 YTD More customers & frequency
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Half Year Results 2026 – Chick ‘N’ Dip SIGNIFICANT GROWTH OPPORTUNITY 17 £3 bn Market 4.2% share of a growing market > 1,4 00 immediate customer distribution points No additional capex required Hot Food Fast Deliver in 25 - minutes more occasions more markets
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Half Year Results 2026 – Chick ‘N’ Dip 18 BUILDING OUR POSITION IN THE CHICKEN MARKET 82% Satisfaction amongst 18 - 24 year olds 80% Satisfaction when eating with friends Increasing average order value £36 VS £26 87% also buying pizza Increasing frequency – driving ONE MORE TIME
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19 LOYALTY
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Half Year Results 2026 - Loyalty One more time 20 Already delivering MORE 2.2M customers signed up MORE Frequency Drives orders across low, medium and high frequency customers. Aiming for MORE Learnings from Pilot Full Rollout by end of 2026 Improved functionality and capability Long - Term frequency engine for core business
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Half Year Results 2026 - Loyalty 21 MOVING TO A FULL SCHEME UNLOCKS FURTHER GROWTH q4 2026 Full scheme launch Live to the full customer base — including new and reactivating customers — with a dedicated Rewards tab in the App 2027 National advertising We'll nationally advertise the loyalty proposition above - the - line to build broad awareness National rollout maximises growth opportunity
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22 aggregators
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Half Year Results 2026 - Aggregators 23 Driving INCREMENTAL REACH Route to Market Significant market and growing fast Use our Network Aggregator value: £2.7bn Growth: 6.5% CAGR ‘22 to ‘26 Different customer Higher Income Younger Less Price sensitive Accessing more customers
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Half Year Results 2026 - Aggregators 24 STRENGTHENING OUR POSITION IN THE AGGREGATOR MARKET Differentiator in Market leading brand 1,400 stores Our customer journey Hot food fast Our own drivers – 25min delivery Positive progress Forming strong partnerships Aggregator share in line with internal share of pizza Retain non - champion customers Grow customer base Aggregators Built on domino’s strengths
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25 SUPPY CHAIN PRODUCTIVITY
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Half Year Results 2026 – Supply Chain Productivity 26 DOMINO’S OUTSTANDING SUPPLY CHAIN Naas 100% Food Availability 4200 Deliveries per week 99.95% Accuracy CAPACITY, RESILIENCE, EFFICIENCY
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Half Year Results 2026 – Supply Chain Productivity 27 RELENTLESS FOCUS ON PRODUCTIVITY 14 productivity projects delivered across 2024 to 2028 with 7 due to be completed in 2026 • Production Automation • Quality Assurance • Dough Picking Automation • Warehouse Automation DELIVERING MARGIN IMPROVEMENT IN H2 2026 INTO 2027/28 Additional projects under consideration
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28 summary
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Half Year Results 2026 – Summary 29 ORGANIC GROWTH STRATEGY More CUSTOMERS More OFTEN More for less Operational Efficiencies Core innovation Digital Innovation Growth from Leveraging our foundations CHICK’N’DIP Aggregator Growth Loyalty Supply Chain Productivity Additional Growth initiatives Delivering more for all
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Half Year Results 2026 – Summary 30 STRATEGY DELIVERING MARKET SHARE GROWTH 53.8% Share (Up 1.2ppts) 4.2% Share (up 0.4ppts) 7.7% Share (up 0.4ppts) Pizza QSR Takeaway Chicken QSR Takeaway QSR Takeaway LEADER IN PIZZA HEADROOM IN CHICKEN GROWTH IN QSR Increasing share across all markets
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Half Year Results 2026 – Summary Outlook & SUMMARY 31 CURRENT TRADING • Strong momentum in July benefitting from World Cup • Confident of achieving full year expectations CLEAR BRAND STRENGTH LEVERAGING CORE VALUES • Core Marketing and Innovation strength • Class leading supply chain CLEAR AND FOCUSSED GROWTH STRATEGY • Focus on "MORE" - MORE Frequency, MORE Customers, MORE "for less" • Four key drivers – Chicken, Loyalty, Aggregators, Supply Chain Efficiency • Future growth and strong cash generation Delivering more for all
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32 DELIVERING MORE FOR ALL
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Half Year Results 2026 33 Appendix: Outlook & guidance Pizza QSR Takeaway Chicken QSR Takeaway FY26 TECHNICAL GUIDANCE • Depreciation and amortisation: £m mid - twenties • Interest: c.£21m • Underlying tax rate: c.25% • Capital Expenditure: c.£35m • FY26 gearing expected to end in line with FY25 with HY26 likely higher reflecting capex phasing
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Half Year Results 2026 - Finance Update 34 Appendix: ANALYSIS OF UNDERLYING EBITDA • Supply chain and Royalty EBITDA increase driven by higher sales. • Corporate store growth driven by increased orders and full half year of Victa. • Investments down 49.7% due to partial disposal of Full House at the back end of FY 25. £m HY26 HY25 % change Supply chain centre EBITDA 62.7 62.0 +1.1% Net royalties 23.1 21.7 +6.5% Net overheads, property & incentives (26.1) (25.6) (2.0%) Corporate stores 5.9 4.5 +31.1% UK and Ireland investments 0.6 1.3 (53.8%) Underlying EBITDA 66.2 63.9 +3.6% Underlying EBITDA margin % of system sales 8.0% 8.2%