Restaurant Brands International Inc. ended its 2022 fiscal year with a robust Q4 as systemwide sales increased nearly 12%, and over 13% for 2022 while quarterly consolidated sales were up nearly 8%.
The sales spike was led by an 11% growth at Tim Hortons Canada and Burger King International, according to a press release.
Digital sales grew over 30% year-over-year to over $13.5 billion, representing over a third of systemwide sales and restaurant growth included 1,266 net new units with the Popeyes division delivering its strongest development year since joining RBI.
“We rounded out an exciting 2022 with another strong quarter, including nearly 8% consolidated comparable sales and 4% net restaurant growth, reflecting the strength of four iconic, global brands,” José Cil, RBI CEO, said in the release.
Burger King US saw sequential improvement in comparable sales in the first quarter of its Reclaim the Flame. Burger King International delivered double-digit comparable growth.
Popeyes delivered its strongest year of restaurant growth since RBI acquired it six years ago, reaching nearly 4,100 restaurants worldwide. Firehouse Subs wrapped up its first full year in the RBI family.
“We are focused on being guest-led in everything we do, setting our franchisees up for long-term success and as a result, setting ourselves, and our shareholders, up for long-term value creation. I’d like to thank our employees, franchisees and team members for all their hard work and dedication throughout 2022,” Cil said in the release.
2022 highlights also included:
• Diluted EPS of $3.25 versus $2.69 in the prior year.
• Adjusted diluted EPS of $3.14 versus $2.82 in the prior year.
• Net income of $1,482 million versus $1,253 million in the prior year.
• Adjusted EBITDA of $2,378 million increased 7.5% organically versus the prior year.
Source: QSR Web