“We will push forward the plan for the group to go public in the second half of 2024. The roadmap has already been defined, even though there are no advisors hired for the time being”, said Gregorio Jiménez, president of Restaurant Brands Iberia, in statements to Expansión. The forecast of the group is that it will start trading on the stock exchange at the end of next year or at the beginning of 2025.

The group thus resumes the plan started in 2019, when it even hired Morgan Stanley and Bank of America to go public. However, the outbreak of the pandemic in March 2020 put that ambition on hold. Gregorio Jiménez explains that the objective now is to double the size of the company and reach “a turnover of around 1,300 million euros and an EBITDA [earnings before interest, taxes, depreciation and amortisation] close to 250 million euros at the end of the next year".

According to the newspaper, market sources point out that these figures will allow the restoration group to aim for a valuation on the stock exchange of around 2,400 million euros, which, if confirmed, will mean almost ten times the EBITDA, and double the valuation of the company when Cinven, a private equity firm, became a shareholder in Restaurant Brands Iberia.

"Although it is still early to give a concrete number, the intention is to take more than 50% of the company's capital to the stock exchange", adds the president of the group, who holds 17% of the company's capital, being the second largest shareholder.