Burger King 2008 Annual Report Download - page 16

14 :: Burger King
Our business has never been stronger, our future never brighter.
And the best is yet to come as the Burger King® adventure continues.
By any major fi nancial or operational metric, Burger King
Holdings, Inc., delivered record results and signifi cant achieve-
ments in fi scal 2008. Profi ts grew by 24 percent amid sharply
rising commodity prices and a challenging consumer environ-
ment. We accomplished this through our people—employees,
franchisees, and suppliers—all working together to drive our
brand forward each and every day, and their unwavering
dedication to deliver on our Have It Your Way® brand prom-
ise globally.
Our laser focus and commitment to progressive improvements
enabled us to continue our grand adventure—serving great
tasting food at affordable prices in 71 countries and U.S. terri-
tories. Our adventure is defi ned by our True North Plan and its
four strategic growth pillars—products, marketing, operations,
and development. This year we continued our winning streak,
posting signifi cant improvements and setting new records.
In our second full year as a public company,
Burger King holdings, inc. posted:
:: Record worldwide revenues of $2.46 billion,
up 10 percent from fi scal 2007
:: The 18th consecutive quarter of worldwide
positive comparable sales
:: Exceeded last year’s best in a decade
traffi c performance
:: Record worldwide average restaurant sales (ARS)
of $1.3 million, up 9 percent from fi scal 2007
:: A net restaurant gain of 282—the highest net
restaurant growth in eight years
:: Record earnings per share of $1.38, up 24 percent
from our adjusted earnings per share in fi scal 2007,
again exceeding our long-term growth target
We expect this exciting global adventure to continue for the
next several years. For fi scal 2009, we will open even more res-
taurants; step up our company-owned restaurant reimaging
initiative; roll out the fi rst Whopper BarTM; continue to innovate
and launch high-demand products; excite consumers with new
promotional tie-ins and creative advertising; effectively execute
on our operational platforms; and, of course, give back to the
communities we serve. We are uniquely positioned to deliver
best-in-class results based on our multiple growth drivers
and our steadfast desire to be the best in the industry.
In fi scal 2009, we expect to open 350-to-400 net new restau-
rants worldwide by expanding in key markets including China,
Brazil, Eastern Europe, the Middle East, and North America.
Our plans call for us to reimage even more company-owned
restaurants with contemporary designs and décor with many
of our franchisees making similar investments. We’re also
accelerating efforts to reduce our environmental footprint,
reducing the size of the restaurants and introducing more
energy-effi cient equipment. We expect all of these develop-
ment opportunities to signifi cantly grow our top-line and
increase profi ts.
Our innovation process—refi ned over fi ve years of successful
menu strategies, product R&D, and new kitchen equipment—
continues to satisfy the demand of both indulgence-seeking
and value-minded guests. Our product offerings are intended
to increase our broad-based appeal and to fi ll in existing prod-
uct gaps in breakfast, snacking, and desserts. We are very
excited about upcoming launches, including BK Breakfast
ShotsTM, BK Burger ShotsTM, mega Angus burger, soft-serve
ice cream treats, and BK® Smoothies. All these great tasting
products are aimed at driving traffi c and increasing ARS.
TO OUR
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