Restaurant Brands International Inc. · NYSE:QSR
Restaurant Brands International — Investor Presentation (February 2024)
14 slides from Restaurant Brands International's investor presentation, Feb 15, 2024
Slide 1: 1
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Slide 2: Key Operating Metrics
Key Operating Metrics roi We evaluate our restaurants and assess our business based on the following operating metrics. System-wide sales growth refers to the percentage change in sales at all franchise restaurants and Company restaurants (referred to as system-wide sales) in one period from the sam
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures rbi Below, we define the non-GAAP financial measures, provide a reconciliation of each non-GAAP financial measure to the most directly comparable financial measure calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), and discuss the
Slide 4: Use of Non-GAAP Financial Measures (cont.)
Use of Non-GAAP Financial Measures (cont.) rbi Adjusted Net Income is defined as net income excluding (j) franchise agreement amortization as a result of acquisition accounting, (ii) amortization of deferred financing costs and debt issuance discount, (iii) loss on early extinguishment of debt and i
Slide 5: Reconciliation: Income from Operations to Adjusted Operating Income
Operating Income (RBI for 2023 and BKW 2012) Reconciliation: Income from Operations to Adjusted rbi RBI ‘Twelve Months Ended Dec 31, (in US$ millions) 2025 Income from Operations $ 2,051 Franchise agreement amortization 31 FHS Transaction costs” 19 Corporate restructuring and advisory fees 38 Impact
Slide 6: Net Income to Adjusted Net Income and Adjusted Diluted Earnings per Share
Reconciliation: Net Income to Adjusted Net Income and Adjusted Diluted Earnings per Share (RBI and BKW) RBI (in US$ millions, except per share data) Adjusted Net Income and Adjusted Diluted EPS: Net Income Income tax (benefit) expense Income before income taxes Adjustments: Franchise agreement amort
Slide 7: Net Income to Adjusted EBITDA to Net Leverage (RBI)
Reconciliation: Net Income to Adjusted EBITDA and Adjusted EBITDA to Net Leverage (RBI) (in US$ millions) Net income Income tax (benefit) expense Loss on early extinguishment of debt Interest expense, net Income from operations Depreciation and amortization EBITDA Share-based compensation and non-ca
Slide 8: Adjusted EBITDA to Net Income
Reconciliation: Adjusted EBITDA to Net Income rbi Twelve Months Ended Dec 31, (in US$ millions) 2022 2021 2020 2019 2018 2017 2016 2015 2014 EBIIDA and Adjusted EBITDA: Segment Income: TH $ 1073 $ 997 $ 823 $ 1122, $ W227 $ 136 $ 1072, $ 907 $ 816 BK 1007 1021 823 994 928 903 a6 760 726 PLK 242 228
Slide 9: Adjusted EBITDA Net Leverage
Twelve Months Ended Dec 31, (in US$ millions, except ratios) 2022 2021 2020 2019 2018 2017 © 2016 2015 2014 Adjusted EBITDA Net Leverage Long term debt net of current portion $ 12,839 12,916 12,397 1,759 1,823 11,801 8,410 8,462 8827 Finance leases, net of current portion an 333 315 288 226 24h 218
Slide 10: Net Income to Adjusted EBITDA to Net Leverage
Reconciliation: Net Income to Adjusted EBITDA and Adjusted EBITDA to Net Leverage (o US$ milions) EBITDA and Adjusted EBITDA: Coleulaton Segment Income: TH 8K Adjusted EBITDA Shore-based compensation and non-cash incentive compensation expense” PLK Transaction Costs" Integration costs “* Impact of e
Slide 11: BK Net Income to LTM Adjusted EBITDA to Net Leverage
Reconciliation: BK Net Income to Adjusted EBITDA and rbi LTM Adjusted EBITDA to Net Leverage Nine Montts Three Months, Ended Ended Twelve Months Ended GH US$ mitions, except ratins) Sep 30,2014 Dec 31,2015 Sep 30,20 _DecH, 205 Dec 3202 Dec 3 ZO Dee 3 200 EBITDA and Adjusted EBITDA: Net income s ms 7
Slide 12: BKW Net Debt / LTM Adj. EBITDA
Reconciliation: BKW Net Debt / LTM Adj. EBITDA rbi As of December 31, 2010 ‘Adjustment: Amended Adjustment: Credit Issuance of Actual Agreement Discount Note _ As Adjusted Net debt to adjusted LTM EBITDA: Long term debt, net of current portion $ 2652 $ 2B $ 402 $ 3,077 Capital leases, net of current
Slide 13: Footnotes to Reconciliation Tables
Footnotes to Reconciliation Tables rbi 1?) 2) 3) 4) 5) 6) 7) 8) 9) 10) 1) 12) 13) Represents share-based compensation expense associated with equity awards for the periods indicated; also includes the portion of annual non-cash incentive compensation expense that eligible employees elected to receiv
Slide 14: Footnotes to Reconciliation Tables
Footnotes to Reconciliation Tables rbi 14) 15) 16) In connection with the acquisition of Tim Hortons Inc. and a series of post-closing transactions during 2015 that resulted in changes to our legal and capital structure, we incurred certain nor-recurring selling, general and administrative expenses
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