Oliver's Real Food Limited (ASX:OLI, ABN 33 166 495 441), an ASX-listed operator of real food quick-service restaurants, reported a statutory profit of $598,000 for the year ended 30 June 2026 via its Appendix 4E filed on 31 August 2026. This represents a $3.508 million improvement on the prior corresponding period loss. Revenue was $22.845 million, down 8% on the prior year, while EBITDAI (earnings before interest, tax, depreciation, amortisation, and impairments) rose 36.8% to $2.904 million. Same-store sales increased 4%, and gross margins held at 63.85%.

About Oliver's Real Food

Oliver's Real Food Limited (ASX:OLI) operates a chain of drive-through and in-store quick-service restaurants in Australia under the Oliver's brand, with a focus on fresh, nutritious, and minimally processed food and beverage options. The company's outlets are positioned primarily at highway and transport-adjacent locations. Oliver's aims to provide an alternative to traditional fast food for health-conscious travellers and commuters.

FY26 Results — Filed 31 August 2026

Oliver's Real Food reported FY26 revenue of $22,845,018, down 8% on the prior year. EBITDAI rose 36.8% to $2,904,750 from the prior corresponding period, with the significant improvement in Earnings Margin reflecting the company's cost management program. EBITDA rose 693.5% to $2,904,750 (on a different prior base to EBITDAI, reflecting the absence of impairments). The statutory profit of $598,000 marked a return to profitability, improving by $3.508 million from the prior year.

Same-store sales growth of 4% indicates that revenue performance at existing outlets is improving, even as total revenue has declined. Operating expenses were reduced by 14.45%, demonstrating ongoing cost discipline across the store network and corporate functions. Gross margins held at 63.85%.

Looking to FY27, the company indicated that July EBITDAI was up 11% year-on-year to $232,000, with July revenue of $1.842 million and same-store sales up 3.5%. August same-store sales were reported as up 5.0%. Management cited consumer sentiment uncertainty as an ongoing backdrop but confirmed that Investment programs to upgrade in-store equipment are underway to reduce costs, increase speed of service, and improve customer experience.

Industry Context

The Australian quick-service and fast casual restaurant sector has faced persistent headwinds from cost-of-living pressures on consumer discretionary spending, labour cost inflation, and Supply chain normalisation. Oliver's differentiated positioning as a healthy, real-food alternative to traditional fast food has allowed it to grow same-store sales by 4% in FY26 despite the challenging environment. Highway and transport-adjacent food outlets benefit from relatively captive customer demand, as travellers have limited alternatives at motorway service centres and highway interchange locations.

Risks and Uncertainties

Oliver's Real Food's revenue declined 8% in FY26 despite same-store sales growth of 4%, suggesting either network contraction or category headwinds in specific revenue streams. Consumer sentiment remains uncertain, and the pace of same-store sales recovery may slow if macroeconomic conditions deteriorate. Labour cost Inflation was cited by management as a key ongoing cost challenge. The investment program in store equipment requires Capital deployment that may constrain near-term free cash flow. The company's asset base — highway-adjacent stores — is exposed to any structural changes in road travel volumes.