Pizza Hut 2004 Annual Report Download - page 15
Download and view the complete annual report
Please find page 15 of the 2004 Pizza Hut annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.OurInternationalDivision
continuestosetnewrecords
intermsofrevenues,profits
andnewunitdevelopment.In
2004,weachieved$2billion
inrevenues,generatedover
$335millioninoperating
profit—up20%—and
weopened738new
restaurantsoutside
oftheUnitedStates.
Thatbringsustoan
impressive11,093
unitsoutsideofthe
U.S.withapresencein
approximately100countries
andterritories.Nowthat’s
undeniablegrowth!
Weareproudofthestrongtrack
recordofgrowthoftheinternational
businessandwe’reexcitedbythe
opportunitiesstillinfrontofus.
Thiscombinationofasolid,estab-
lishedinternationalbaseandhuge
untappedpotentialmakesustruly
uniqueintherestaurantbusiness.
Eachofourmajorequitymarkets—
UnitedKingdom,Australia,South
KoreaandMexico—havecategory-
leadingmarketpositionsandpow-
erfullocalleadershipteams.Even
withtheirscale,thesebusinesses
stillhavesignificantnewunitpoten-
tialandexcitingfutureprospects.
Sotoodoourfranchiseeswhich
generatenearly$400millionin
franchisefees.Inall,nearly600
franchiseesarebuildingourbrands
acrosstheglobe.Andtheyareas
passionateaboutgrowthasweare.
Despiteourcurrentsize,attrac-
tivenewopportunitiesabound.
Weexpectgrowthinallofour
currentmarkets,equityandfran-
chise.But,we’realsoinvestingin
highpotentialmarketswherewe
haveamodestpresencetoday—
WesternEurope,EasternEurope,
India,andBrazilinparticular.
Allinall,oursisabalancedport-
foliowhichisdeliveringbroad-
basedunitdevelopmentandstrong
growthinsystemsales.In2004,
weopenednewunitsin60coun-
triesandachievedpositivesame
storesalesgrowthinmostmajor
markets.We’retargetingsimilar
performancein2005.
Greatbrands.Motivatedpeople.
Strongresults.Hugepotential.
That’swhytheInternationalbusi-
nessistheenvyofourindustry.
GRAHAMALLAN
PRESIDENTYum!RESTAURANTS
INTERNATIONAL
INTERNATIONALDIVISIONSYSTEMSALES(a)BYKEYMARKET
IncludesalloperationsoutsidetheU.S.,withtheexceptionofthosereportedintheChinaDivision.
Year-end2004
U.K. 19%
AsiaFranchise 13%
Caribbean/LatinAmericaFranchise 8%
MiddleEast/NorthernAfricaFranchise 5%
ContinentalEuropeFranchise 6%
SouthernAfricaFranchise 4%
Australia 11%
PHKorea 4%
Mexico 3%
Early-StageGrowthMarkets(b) 3%
OtherMarkets(c) 24%
InternationalDivision 100%
(a)System sales represents the combined sales of
Company, franchise, unconsolidated affiliate and
licenserestaurants.
(b)IncludesKFCGermany,KFCNetherlands,KFCFrance,
BrazilandIndia.
(c)IncludesJapan,Canada,PHFranceandPoland.
“global
power”
13