MTY Food Group Inc Q3 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Sabahat Khan - RBC Capital Markets, Research Division - Analyst : All right. Just on the $10 million of cost savings that called out in the quarter. Can you maybe talk about where those were? And I'm trying to get an understanding of if those can continue into subsequent quarters. It seems like most of your network is open now, so those could be run rate but I just want to get more color on what they are.

Question: Sabahat Khan - RBC Capital Markets, Research Division - Analyst : Great. And then can you maybe provide an update on the sort of the royalty collection? Where we are on that? I know you had an accelerated royalty payment option for your franchisees. Can you just talk about how the royalty collection is going across your network? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 09, 2020 / 12:30PM, MTY.TO - Q3 2020 MTY Food Group Inc Earnings Call

Question: Sabahat Khan - RBC Capital Markets, Research Division - Analyst : All right. And then just last one for me, could you provide a bit of color on sort of the takeout and delivery during Q3 and then where those trends are? What you're seeing through your own app, perhaps, what you're seeing with aggregators, sort of where the network is on -- percent on some of those platforms? Or percent of sales?

Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst : (inaudible). REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 09, 2020 / 12:30PM, MTY.TO - Q3 2020 MTY Food Group Inc Earnings Call

Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst : And that's an inflation (inaudible) that have contributed to (inaudible).

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Eric, last conference call, you mentioned that we'll know more of the impact of the pandemic on store closures at the end of Q3. So here we are. Can you maybe give us an update on that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 09, 2020 / 12:30PM, MTY.TO - Q3 2020 MTY Food Group Inc Earnings Call

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. I wasn't going to ask that, but sure. Maybe on the Quebec locations that you mentioned earlier, the lockdown. Can you talk a little bit about what you think the expected sales for those stores would be maybe versus the last lockdown?

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. I just wanted to follow-up on an earlier question on the royalty abatement program. Have you determined the deferral period? Can you maybe share some color on who hasn't paid the royalty back by banner or made by geography or by type of location?

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. Eric, I think you gave some color on Papa Murphy's. I think you said you the concept accounted for $15 million year-over-year growth in EBITDA for the first 9 months. Would you have that number just for this quarter?

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. Okay. And just one last one, just to clarify, maybe for RenTe or for yourself. I know I saw $2.6 million of waste subsidies in the quarter. Is there anything else like in terms of government aid, be it like any other item or maybe talk deferral or anything they received -- you also received this quarter?