Restaurant Brands International (RBI) has reported revenue of $1.55bn for the fourth quarter (Q4) of 2021, which ended on 31 December, up from $1.35bn recorded in the same period a year ago.
The quick service restaurant (QSR) company, which owns Tim Hortons, Burger King (BK), Popeyes Louisiana Kitchen (PLK) and Firehouse Subs, also reported year-on-year growth in annual revenues, with figures increasing from $4.97bn in 2020 to $5.74bn in 2021.
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The restaurant company’s net income attributable to common shareholders in Q4 2021 was $261m, compared to $138m recorded in Q4 2020.
Net income for RBI in 2021 was $1.25bn, compared to $748m in 2020.
The company noted that its Tim Hortons, BK and PLK brands all recorded growth in sales.
System-wide sales of Tim Hortons increased to $1.7bn in Q4 2021, from $1.4bn in Q4 2020. The figures changed from $5.4bn to $6.5bn on a year-on-year basis.
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By GlobalDataBK’s quarterly system-wide sales increased from $5.4bn to $6.1bn. In 2021, BK’s sales increased to $23bn, from $20bn in 2020.
PLK reported $1.39bn in system-wide sales for Q4 2021 and $5.5bn for the whole year.
RBI global digital sales grew more than 65% year-over-year to $10bn in 2021.
With Tim Hortons and PLK gaining traction in overseas markets, the company’s net restaurant growth for the year was 4.5%.
The restaurant company noted that it returned $1.5bn of capital to shareholders through dividends and open market share repurchases.
It also declared a dividend of $0.54 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership (RBI LP) for the first quarter of 2022.
RBI CEO José Cil said: “During the quarter, we saw sequential improvements in each brand and around the world, including notable growth at Tim Hortons Canada and Burger King US.
“Two areas of particular strength across our business have been in digital sales and restaurant growth.
“Our digital investments have been embraced by our guests, with global digital sales reaching $10bn in 2021, up from $6bn in 2020, and now representing about 30% of our global system-wide sales.”
