Brazil Fast Food Corp. (OTC Bulletin Board: BOBS) (“Brazil Fast Food”, or the “the Company”), the second largest fast-food restaurant chain in Brazil with 880 points of sale, operating under (i) the Bob’s brand, (ii) KFC and Pizza Hut São Paulo as franchisee of Yum! Brands, and (iii) Doggis as franchisee of Gastronomia & Negocios S.A. (former Grupo de Empresas Doggis S.A.), today announced financial results for the fourth quarter and fiscal year ended December 31, 2011.
Fiscal Year 2011 Highlights
- System-wide sales totaled R$ 946.3 million, up 18.9% from 2010
- Revenue totaled R$ 226.8 million, up 9.9% from 2010
- Points of sale totaled 880 at the end of 2011, up from 789 at the end of 2010
- EBITDA was R$21.9 million compared to R$ 26.1 million in 2010
- Operating income was R$16.4 million compared to R$19.2 million in 2010
- Net income was R$8.9 million, or R$1.09 per basic and diluted share
Fourth Quarter 2011 Highlights
- System-wide sales totaled R$ 277.8 million, up 18.5% from the fourth quarter 2010
- Revenue totaled R$ 60.5 million, up 7.5% from the fourth quarter 2010
- EBITDA was R$2.8 million compared to R$ 8.1 million in the fourth quarter 2010
- Operating income was R$2.0 million compared to R$6.1 million from the fourth quarter 2010
- Net income was R$1.9 million, or R$0.23 per basic and diluted share
“We reported strong revenue growth for the fourth quarter and fiscal year 2011 as we focused on our profitable company-owned stores and expansion of our industry leading brands through new franchise relationships in favorable markets across Brazil,” said Mr. Ricardo Bomeny, President and CEO of Brazil Fast Food.
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