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Burger King Worldwide, Inc. Message Board

  • bluecheese4u bluecheese4u Feb 15, 2013 9:27 AM Flag

    Burger King Worldwide, Inc. Reports Fourth Quarter and Full Year 2012 Results

    Burger King Worldwide, Inc. Reports Fourth Quarter and Full Year 2012 Results

    February 15, 2013 - 7:00 AM EST
    Burger King Worldwide, Inc. (NYSE:BKW) today reported financial results for the fourth quarter and year ended December 31, 2012.

    “We had a strong finish to the year and made significant progress on key strategic initiatives,” said Bernardo Hees, Chief Executive Officer, Burger King Worldwide, Inc. “We continue to capitalize on our brand by growing globally, adding 485 net new restaurants and growing comparable sales 3.2% for the full year 2012. Our results are evidence that the Four Pillar strategy in the U.S. and Canada and initiatives to accelerate international unit growth are working. During 2012, we made significant progress on our re-imaging initiative, added international master franchise joint venture and development agreements, and refranchised 871 restaurants. We are proud of the hard work and dedication of our employees and franchisees that enabled us to deliver an excellent finish to a critical year for the company. We continue to execute on our strategy, and believe the company is well positioned to deliver sustainable long-term growth.”

    Full Year 2012 Highlights:
    • System-wide comparable sales increased 3.2% and system-wide sales increased 5.9% on a constant currency basis
    • Adjusted Diluted EPS increased 34.0% to $0.69
    • Adjusted EBITDA increased 16.6% on an organic basis to $652.1 million
    • Adjusted EBITDA margin increased 820 bps to 33.2%
    • Net restaurant growth of 485, growing restaurants by +3.9%
    • Successfully refranchised 871 restaurants, bringing the system to approximately 97% franchised
    • Re-imaged approximately 600 restaurants in the U.S. and Canada, increasing units on a modern image to 19% of the region
    • Launched the largest menu update in the U.S. and Canada in the history of the brand
    • Accelerated international growth, announcing five master franchise joint ventures and seven new development agreements in key growth markets
    • Refinanced $1.9 billion of debt, lowering annualized cash interest costs by approximately $25 million
    • Declared a cash dividend of $0.04 per share in the fourth quarter

    Fourth Quarter 2012 Highlights:
    • System-wide comparable sales increased 2.7% and system-wide sales increased 6.7% on a constant currency basis
    • Adjusted Diluted EPS increased 57.8% to $0.23
    • Adjusted EBITDA increased 22.5% on an organic basis to $174.9 million
    • Adjusted EBITDA margin increased 1,670 bps to 43.2%
    • Increased cash dividend 25% to $0.05 per share from previous dividend

    Consolidated Financial Highlights:

    investorDOTbkDOTcom/conteudo_en.asp?idioma=1&tipo=43682&conta=44&id=165734&storyId=58054853

 
BKW
25.68-0.28(-1.08%)Apr 17 4:02 PMEDT

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