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Restaurant Brands International Inc. Reports Full Year and Fourth Quarter 2019 Results
RBI delivers consolidated system-wide sales growth of 10% in Q4 and over 8% in 2019
More than 27,000 restaurants now open globally following 1,342 net restaurant openings in 2019
BURGER KING® delivers over 9% system-wide sales growth and adds over 1,000 net new restaurants in 2019
POPEYES® delivers transformational system-wide sales growth of over 42% in Q4 boosted by the Chicken Sandwich
TIM HORTONS® announces plan to reignite growth in Canada by focusing on its fundamentals and founding values
 
Toronto, Ontario – February 10, 2020 – Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the full year and fourth quarter ended December 31, 2019.
 
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, “We have three iconic restaurant brands that are together growing rapidly around the world. Last year, we shared a long-term aspiration to build the most loved restaurant brands in the world and have more than 40,000 restaurants open within 8-10 years. I'm proud that our 2019 results have us solidly on track."

“Burger King delivered its strongest year of restaurant growth in the last two decades.  Popeyes launched an iconic Chicken Sandwich that has proven to be a game changer for the brand in every way.  At Tim Hortons, our performance did not reflect the incredible power of our brand and it is clear that we have a large opportunity to refocus on our founding values and what has made us famous with our guests over the years, which will be the basis for our plan in 2020."

2019 Growth and Profitability Highlights:

System-wide Sales Growth of 8.3%
Net Restaurant Growth of 5.2%
Diluted EPS of $2.37 versus $2.42 in prior year
Adjusted Diluted EPS of $2.72 versus $2.63 in prior year
Net Income Attributable to Common Shareholders and Noncontrolling Interests of $1,109 million versus $1,143 million in prior year
Adjusted EBITDA of $2,304 million increased 6.5% organically versus the prior year
Net cash provided by operating activities of $1,476 million and Free Cash Flow of $1,414 million

Dividend Update:

RBI announced that its board of directors declared a dividend of $0.52 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership (“RBI LP”) for Q1 of 2020
In connection with the declared dividend, RBI also announced that it is targeting a total of $2.08 in dividends per common share and partnership exchangeable unit of RBI LP for 2020



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The following information was filed by Restaurant Brands International Inc. (QSR) on Monday, February 10, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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