Page 1

JOLLIBEE FOODS CORPORATION JFC Generates Php 1.5 billion Operating Income in First Quarter 2021 Metro Manila , Philippines , May 11 , 2021 – Jollibee Foods Corporation ( PSE : JFC ) – Financial Results for the First Quarter Ended March 31 , 2021 Following are the highlights of the financial results of operations of Jollibee Foods Corporation ( JFC ) and its subsidiaries for the quarter ended March 31 , 2021 , based on its Unaudited Consolidated Financial Statements : Financial Summary System Wide Sales Revenues Operating Income ( Loss ) EBITDA Net Income ( Loss ) Net Income Attributable to Equity Holders of the Parent Earnings ( Loss ) Per Common Share - Basic Earnings ( Loss ) Per Common Share - Diluted * Amounts in PhP Millions , except % change and Per Share Data . YTD March 2021 2020 % Change 47,782 55,151 -13.4 % 34,681 39,425 -12.0 % 1,486 ( 1,168 ) 227.2 % 5,166 2,809 83.9 % 49 ( 1,952 ) 102.5 % 153 ( 1,676 ) 109.1 % 0.139 ( 1.532 ) 109.1 % 0.138 ( 1.526 ) 109.0 % JFC generated an operating income of Php1.5 billion in the first quarter of 2021 representing a significant recovery from the operating loss of Php1.2 billion suffered in the same period a year ago . EBITDA or Earnings Before Interest , Taxes , Depreciation and Amortization , an approximation of operating cash flows almost doubled from Php2.8 billion in Q1 2020 to Php5.2 billion in the same quarter of 2021. This improvement in profit and cash flows were achieved despite lower sales in 2021 . Consolidated System wide sales of JFC , a measure of all sales to consumers , both from company - owned and franchised stores decreased by 13.4 % to Php47.8 billion in the first quarter of 2021 compared to the same quarter last year while revenues declined by 12.0 % . Sales from the Philippine business declined by 21.3 % but those from the international business increased by 1.3 % . Compared to Q1 2019 or pre - pandemic level , sales declined by 28.5 % in the Philippines but only by 0.8 % in international business without the impact of the acquisition of The Coffee Bean and Tea Leaf® ( CBTL ) or a 31.8 % growth including CBTL . JFC's international business contributed 41.1 % to its Q1 2021 global system wide sales while the Philippines accounted for 58.9 % . JFC's Chief Executive Officer , Mr. Ernesto Tanmantiong gave the following statement : “ Most of our businesses abroad are reaching sales at pre - pandemic level . In the month of March 2021 , our sales in China , North America ( Philippine brands ) , EMEAA ( Europe , Middle East and Asia ) and SuperFoods mainly in Vietnam were already equal to or slightly higher than those in March 2019. Same store sales growth was offsetting the effect of stores closed permanently due to the pandemic . Our profit and cash flows recovered strongly versus a year ago reflecting the successful execution of our Business Transformation program . Practically every cost item in our Company , from stores to commissaries to support group offices decreased far more than our sales decline . While we still face significant challenges in the Philippines due to continued restrictions related to the pandemic , our Philippine business provided the most profit contribution among all our regions in the world . It grew operating profit by 23.7 % in the first quarter of 2021 versus same quarter last year despite a 21.3 % decline in