Arcos Dorados Holdings Inc. (NYSE: ARCO) (“Arcos Dorados” or the “Company”), Latin America’s largest restaurant chain and the world’s largest McDonald’s franchisee, today reported results for the fourth quarter and full year ended December 31, 2011.
Full Year 2011 Highlights
- Revenues increased by 21.2% year-over-year, or by 17.7% on a constant currency basis, to US$ 3,657.6 million
- Systemwide comparable sales increased by 13.7% year-over-year
- Gross openings of 101 restaurants, led by an ambitious opening schedule culminating in a year-end restaurant base of 1,840
- Adjusted EBITDA 1 increased by 13.6% year-over-year, or by 7.6% on a constant currency basis, to US$ 339.8 million
- Net income amounted to US$ 115.5 million, a 9% increase over one year ago
- Capital expenditure for the year totaled US$ 319.9 million and is consistent with the Company’s long-term growth strategy of boosting future growth through new and reimaged restaurants
- Execution of three major capital markets transactions including an IPO, secondary follow-on and debt restructuring, which reduces ongoing funding costs
Fourth Quarter 2011 Highlights
- Revenues increased by 10.5% year-over-year, or by 16.1% on a constant currency basis, to US$ 958.5 million
- Systemwide comparable sales increased by 11.5% year-over-year
- Adjusted EBITDA 1 increased by 6.1% year-over-year, or by 10% on a constant currency basis, to US$ 104.6 million
- Net income amounted to US$ 46.2 million, a 12.3% increase over one year ago
“Arcos Dorados’ achievements in 2011 extend well beyond strong revenue and earnings growth. The execution of three highly successful capital markets transactions, a multinational strategic plan and an ambitious restaurant opening and reimaging program underscore the depth of talent at every level of our organization,” said Woods Staton, Chairman and CEO of Arcos Dorados.
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