Monday, March 20, 2006

Roll Up the Rim

This gives a whole new meaning to roll up the rim to win.

Tim Hortons shares ready to hit stock market

Tim Hortons quick facts

Canadian Press

Published: Sunday, March 19, 2006

A look at Tim Hortons' initial public offering:

-- The stock will trade under the ticker symbol THI on the New York Stock Exchange and Toronto Stock Exchange.

-- The estimated initial price per share is between $21 and $23 Cdn, $18 and $20 US.

-- Tim Hortons will offer 29 million shares.

-- The underwriters, led by Goldman Sachs and RBC Capital Markets, can buy an additional 4.35 million shares if they sell all 29 million.

-- Wendy's International Inc., which currently owns Tim Hortons, will hold on to an 85 per cent stake, or about 160 million shares.

-- Tim Hortons intends to pay quarterly dividends in Canadian dollars of about 20 per cent of its net income, beginning in the third quarter.

A look at Tim Hortons' finances:

-- 2005 revenues were $1.5 billion, up from $1.3 billion in 2004.

-- 2005 net income was $191 million, down from $205 million in 2004.

-- 2005 earnings per share were $1.19, down from $1.28 in 2004.

-- Total assets in 2005 were $1.6 billion, down from $1.8 billion in 2004.

-- Average same-store sales growth was 5.2 per cent in Canada, seven per cent in the U.S.

-- Between 1995 and 2005, average sales per standard Canadian restaurant rose from $800,000 to $1.7 million.

-- After its IPO, it expects to have total indebtedness of $500 million, costing it $16 million to $18 million per year.

© The Canadian Press 2006

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