Key highlights

  • Oliver’s reported EBIT of $204,000 for the September 2026 quarter, up 10.27% on the prior corresponding period, while revenue fell 11.40% to $5.123 million.
  • Same-store sales rose 4.60%, and store closures reduced revenue by $881,000.
  • Net operating cash flow was $735,000, and cash at quarter end was $316,000.

Oliver’s Real Food Limited (ASX:OLI), an Australian operator of healthy quick-service restaurants, released its operations report and Appendix 4C for the September 2026 quarter on 20 October 2026.

Quarterly trading summary

EBIT was $204,000, a 10.27% improvement on the $185,000 recorded in the prior corresponding period. EBITDA was $648,000, which was 7.69% lower than the $702,000 a year earlier. Revenue was $5.123 million, a decrease of $659,000 or 11.40% from the September 2025 quarter.

Store closures reduced revenue by $881,000. The closures were Pheasant Nest North in July 2025, Officer Inbound and Outbound in September 2025 and Pheasant Nest South in July 2026. Same-store sales rose 4.60%, adding $222,000. Expenses fell 11.25%, or $394,000, which the company said resulted from the closures and continued operational efficiency and cost reduction.

Margins, interest and the last four quarters

Gross margin was 64.63%, compared with 63.74% a year earlier. Interest paid was $232,000, down from $274,000, and the operating result after interest was a loss of $28,000, compared with a loss of $89,000. The prior-year net profit before tax of $754,000 included an $843,000 lease liability write-back, so net profit before tax was a loss of $28,000 against $754,000.

Over the last four quarters, revenue was $6.342 million in December 2025, $5.690 million in March 2026, $5.103 million in June 2026 and $5.123 million in September 2026. EBIT was $543,000, $233,000, a loss of $13,000 and $204,000 in those quarters, and same-store sales growth was 5.95%, 4.70%, 1.09% and 4.60%. The June quarter included a $453,000 store impairment.

Cash flow and funding

Net cash from operating activities was $735,000, with receipts from customers of $5.6 million. Investing activities used $104,000, including $218,000 of equipment spending offset by a $113,000 term deposit movement, and financing activities used $588,000, mainly lease repayments of $545,000. Cash and cash equivalents were $316,000 at quarter end, up from $273,000.

Total financing facilities were $13.861 million, of which $13.511 million was drawn, leaving $350,000 unused. The facilities are provided largely by related-party lenders at an interest rate of 7.30%, with secured facilities maturing on 30 September 2032 and unsecured lines maturing on 30 September 2028. Payments to related parties for interest and directors’ fees were nil for the quarter.

Technology awards and expansion plans

The company said its chief executive won the 2026 Top Women in Restaurant Technology Innovator Award at MURTEC for its nutrition-integrated AI drive-thru, and that it won a Best Customer Experience Award through QSR Media for its Nutrition Transparency Ecosystem, which unifies nutrition, allergen and ingredient data across kiosk, drive-thru, app and point-of-sale.

Oliver’s described the trading environment as challenging, including the effect of higher fuel prices. It said its board had paused footprint and brand expansion until performance was reliable and is now actively considering new opportunities.