Arcos Dorados Holdings, Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2012; to Open 130 Stores for the Year of 2012; Reaffirms Capital Expenditure Guidance for the Year of 2012; Appoints Alejandro Ram Rez Maga as Independent Board Member
November 02, 2012 at 12:00 pm
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Arcos Dorados Holdings, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported total revenues of $961.907 million against $984.003 million a year ago. Operating income was $60.056 million against $74.261 million a year ago. Income before income taxes was $44.110 million against $29.306 million a year ago. Net income attributable to the company was $32.608 million or $0.16 per basic share against $19.582 million or $0.09 per basic share a year ago. Adjusted EBITDA was $83.611 million against $95.012 million a year ago. Cash generated from operating activities was $91.2 million in the third quarter of 2012. During the quarter, capital expenditures amounted to $75.6 million.
For the nine months, the company reported total revenues of $2,787.717 million against $2,699.149 million a year ago. Operating income was $156.545 million against $170.946 million a year ago. Income before income taxes was $100.963 million against $94.248 million a year ago. Net income attributable to the company was $70.111 million or $0.33 per basic share against $69.307 million or $0.32 per basic share a year ago. Adjusted EBITDA was $228.954 million against $235.206 million a year ago. Net financial debt as on September 30, 2012 was $408.956 million against $356.044 million as on December 31, 2011. Total capital expenditure amounted to $171.1 million for the period, compared with $182.5 million in the first nine months of 2011.
The company expects to achieve its full year target of 130 gross openings.
The capital expenditures plan remains unchanged and includes 130 gross openings, with total capital expenditures for the full year of approximately $300-320 million.
Alejandro Ram rez Maga a was appointed an independent board member of the company. Ram rez Maga a is the General Director of Cin polis. He recently co-chaired the 2012 Annual Meeting of the World Economic Forum and was also appointed by President Calder n as Chair of the G20's Business Summit (B20), in Mexico in June, 2012. He currently serves as committee advisor for the World Bank and the United Nations Development Programme (UNDP). In 2005, he was also appointed as "Young Global Leader" by the Davos World Economic Forum, in Switzerland.
Arcos Dorados Holdings Inc. is a McDonald's franchisee. The Company operates or franchises over 2,140 McDonald's-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay. Its menus feature over three tiers of products: entry-level options, such as its Big Pleasures, Small Prices offerings and Almuerzos Colombianos (Colombian Lunches) in Colombia; core menu options, such as the Big Mac, Happy Meal and Quarter Pounder, and premium options, such as Big Tasty or Angus premium hamburgers and chicken sandwiches and low-calorie or low-sodium products.
Arcos Dorados Holdings, Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2012; to Open 130 Stores for the Year of 2012; Reaffirms Capital Expenditure Guidance for the Year of 2012; Appoints Alejandro Ram Rez Maga as Independent Board Member
ARCOS DORADOS HOLDINGS INC. 
