百胜餐饮集团YUM! Brands, Inc. (YUM) 2012年年度报告「NYSE」.pdf

1、China and a Whole Lot MoreStaying the Course2012 Yum!Brands Annual Customer Mania ReportFinancial Highlights (In millions,except for per share amounts)Year-end 2012 2011%B/(W)changeCompany sales$11,833$10,893 9 Franchise and license fees and income 1,800 1,733 4 Total revenues$13,633$12,626 8 Operat

2、ing Profit$2,294$1,815 26 Net Income Yum!Brands,Inc.$1,597$1,319 21 Diluted Earnings Per Common Share before Special Items(a)$3.25$2.87 13Special Items Earnings Per Common Share(a)$0.13 (0.13)NMReported Diluted Earnings Per Common Share$3.38$2.74 23 Cash Flows Provided by Operating Activities$2,294$

3、2,170 6(a)See our 2012 Form 10-K for further discussion of Special Items.ContentsDear Partners.1Building Leading Brands in China.34Building Strong Brands Everywhere.5-6Improving U.S.Brand Positions.7-8Driving Long-Term Shareholder Value.9 Company with a Huge Heart.10ABOUT THE PAPER USED FOR THIS REP

4、ORT The inks used in the printing of this report contain an average of 25%-35%vegetable oils from plant derivatives,a renewable resource.They replace petroleum based inks as an effort to also reduce volatile organic compounds(VOCs).The cover and first 12 pages of this report were printed using FSC-c

5、ertified paper made with 50%recycled content including 24%post-consumer Growth*+5%System Sales Growth*$1.6 billion Net Income+18%Increased Dividend$1.34 Annual Dividend Per Share Rate+1,976 Units*David C.Novak Chairman&Chief Executive Officer,Yum!Brands,Inc.*Excluding special items*Prior to foreign

6、currency translation*Outside the U.S.Dear Partners,Im pleased to report that in 2012 we delivered full-year EPS growth of 13%or$3.25 per share,excluding special items,marking the eleventh consecutive year we achieved at least 13%and exceeded our annual target of at least 10%.This kind of consistent