TORONTO — Restaurant Brands International Inc. (RBI) has released financial results for the full year and fourth quarter ended Dec. 31, 2018.
“I am pleased to report that our business continued to deliver strong systemwide sales growth in 2018, driven by acceleration of net restaurant growth at Burger King and Popeyes and improved momentum in comparable sales at Tim Hortons through our ‘Winning Together’ plan,” says Jose Cil, CEO of RBI. “We have demonstrated our increased focus on technology and made notable progress against many of our initiatives, including delivery, kiosks and mobile-app development.”
The company reported systemwide sales growth of 7.4 per cent for 2018, as well as net restaurant growth of 5.5 per cent. Systemwide sales for the year were up for all three brands, with both Burger King and Popeyes seeing 8.9-per-cent growth, and 2.4-per-cent growth at Tim Hortons. Positive net restaurant growth was also experienced by all three brands, with Tim Hortons up 2.1 per cent, Burger Kind up 6.1 per cent and Popeyes up 7.3 per cent.
Comparable sales for all three brands were also up for the year, with Burger King up two per cent, Popeyes up 1.6 per cent and Tim Hortons up 0.6 per cent. 2018 marked the first full year the Popeyes brand has been under RBI, following its acquisition in March 2017.
“We remain focused on further growing franchisee profitability and improving guest experience, which we believe will drive value for all of our stakeholders for many years to come,” adds Cil.
Complete Q4 and full-year results for 2018 are available at investor.rbi.com.