Earnings release
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FOR IMMEDIATE RELEASE JOLLIBEE FOODS CORPORATION Jollibee Group Reports Quarter 1 2025 Financial Results Delivers Double-Digit Growth in Revenues and Operating Income Metro Manila, Philippines, May 13, 2025 – Jollibee Foods Corporation (PSE: JFC) – Unaudited Financial Results for the First Quarter Ended March 31, 2025 Jollibee Foods Corporation (JFC, also known as Jollibee Group) one of the largest Asian food service companies, today reported its financial results of operations for the first quarter ended March 31, 2025, based on its Unaudited Consolidated Financial Statements. Jollibee Group Chief Executive Officer, Ernesto Tanmantiong gave the following statement on the Jollibee Group’s performance for the first quarter: “We are thrilled to report a strong start to the year, with 14.6% revenue growth and a 17.6% increase in operating income. Our margin expansion – 30 bps in gross profit and 10 bps in operating income – reflects disciplined execution positioning us well for sustained value creation and long-term growth. The Jollibee Group’s system-wide sales (SWS) grew by 18.9% with the Philippine business growing by 11.9% and international by 29.5%. The growth in SWS of the Philippine business was led by Mang Inasal (+15.3%), Jollibee (+13.3%), Chowking (+9.9%), and Red Ribbon (+8.5%). The Philippine business’ SWS growth was driven by robust same store sales growth across all four brands mainly coming from volume or transaction count (TC). The international business delivered strong SWS performance, bolstered by the acquisition of Compose Coffee, which contributed 17.8% to the international business’ SWS growth. Our Coffee and Tea segment – now comprising 45.4% of the international business’ SWS – recorded a 62.2% increase, with Compose Coffee accounting for 49% of this growth. International business’ SWS for the quarter also include Tim Ho Wan which is now 100% owned by the Jollibee Group effective January 2025. The Jollibee brand maintained its strong momentum, demonstrating broad-based strength across multiple markets. SWS grew by 13.9% - Philippines 13.3%, China (Hong Kong and Macau) 12.9%, North America 10.9%, Southeast Asia 27.8%, Middle East 12.9%, Europe 10.9% and Oceania (Guam) 20.2%. These results underscore the Jollibee brand’s global appeal and reinforce its positioning to win with consumers across diverse international markets. I would like to thank our teams for their hard work and dedication. Let’s keep up the momentum and continue striving for excellence in the months ahead.”
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The Jollibee Group reported first quarter 2025 system-wide sales (SWS) of Php103.2 billion, an increase of 18.9% compared to Php86.8 billion in the first quarter of 2024. The increase was driven by a combination of 5.5% same store sales growth (SSSG) mainly from volume growth and new store contribution. Consolidated revenues grew by 14.6% to Php70.2 billion. SSSG of the Philippine business increased by 8.5% boosted by the robust SSSG of Mang Inasal (+15.9%), Red Ribbon (+11.1%), Jollibee (+8.6%) and Chowking (+6.2%). SSSG of the international business grew slightly by 0.7% with EMEAA posting +5.3%, NA Asian Brands 4.8%, Highlands Coffee +4.4%, Milksha +3.1%, and CBTL +2.8%. The Jollibee Group’s China business declined by 8.3%, but Yonghe King showed sequential improvement in monthly volume or TC growth during the first quarter. Smashburger also registered a negative 8.0% SSSG mainly from TC decline. Operating income grew by 17.6% to Php4.8 billion despite a 56.2% increase in advertising and promotions. The related margin percentage improved by 10 bps arising mainly from a higher gross profit level and a modest rise in general and administrative expenses. Net income attributable to equity holders of the Parent Company (NIAT) declined by 8.1% to Php2.4 billion driven by higher below-the-line items. Jollibee Group Chief Financial and Risk Officer, Richard Shin gave the following statement: “The substantial increase in advertising and promotions drove a 14.6% rise in revenues. Our strong first quarter revenues combined with our disciplined and prudent approach led to double-digit growth in operating income and a notable improvement in margins. These results highlight the effectiveness of our strategic initiatives and the resilience of our core business. On a quarter-on-quarter basis both operating income and NIAT increased by double digits. While NIAT was slightly lower year-over-year, this was primarily due to non-operational factors. Looking ahead, the Jollibee Group expects continued strong operational performance, and we remain proactive in managing macroeconomic and financial headwinds. We are confident in our strategy and execution, and, accordingly, we are reaffirming our full year guidance.” In Php Millions Except for Per Share Data 2025 2024 % Change System Wide Sales 103,197 86,827 18.9 Revenues 70,226 61,304 14.6 Operating Income 4,809 4,091 17.6 EBITDA 9,776 8,949 9.2 Net Income 2,499 2,704 (7.6) Net Income Attributable to Equity Holders of the Parent Company 2,406 2,617 (8.1) Earnings Per Share - Basic 2.069 2.244 (7.8) Earnings Per Share - Diluted 2.062 2.238 (7.9) Financial Data Quarter 1 (Unaudited)
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At the end of March 2025, the Jollibee Group’s store network increased by 44.3% to 9,935 compared to a year ago: Philippines (3,393) and International (6,542) - 560 in China, 361 in North America, 393 in EMEA, 865 with Highlands Coffee mainly in Vietnam, 1,246 with CBTL, 340 with Milksha, 2,700 with Compose Coffee, and 77 with Tim Ho Wan. Corporate Action The Jollibee Group’s Board of Directors approved on April 14, 2025, the declaration of a regular cash dividend of Php1.33 per share of common stock for all shareholders of record as of May 2, 2025. Payment date is on May 16, 2025. Forward-Looking Statement Disclaimer The foregoing disclosure contains forward-looking statements that are based on certain assumptions of Management and are subject to risks and opportunities or unforeseen events. Actual results could differ materially from those contemplated in the relevant forward- looking statement and the Jollibee Group gives no assurance that such forward-looking statements will prove to be correct or that such intentions will not change. This Press Release discloses important factors that could cause actual results to differ materially from the Jollibee Group’s expectations. All subsequent written and oral forward-looking statements attributable to the Jollibee Group or person acting on behalf of the Jollibee Group expressly qualified in their entirety by the above cautionary statements. About Jollibee Group The Jollibee Group (PSE: JFC) is one of the world’s fastest-growing restaurant companies, driven by its purpose of spreading joy through superior taste. Its portfolio includes 19 brands with over 9,900 stores across 33 countries. The Jollibee Group’s portfolio includes nine wholly owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger and Tim Ho Wan), five franchised brands (Burger King, Panda Express, Yoshinoya, Common Man Coffee Roasters, and Tiong Bahru Bakery in the Philippines), and ownership stakes in other key brands like The Coffee Bean and Tea Leaf (80%), Compose Coffee (70%), SuperFoods Group that operates Highlands Coffee (60%), and bubble tea brand Milksha (51%). The Company also has membership interests in Tortazo, LLC, along with Chef Rick Bayless, for Tortazo in the U.S. and has recently invested in Botrista, a leader in beverage technology. The Jollibee Group’s global sustainability agenda, Joy for Tomorrow, underscores its commitment to sustainable business practices across food safety, employee welfare, community support, good governance, and environmental responsibility, among others. These focus areas are aligned with the United Nations Sustainable Development Goals (UN SDGs). The Jollibee Group has been recognized as the Philippines' Most Admired Company by the Asian Wall Street Journal, named one of Asia's Fab 50 Companies, and listed among Forbes' World’s Best Employers and Top Female-Friendly Companies. The Company is also a three-time Gallup Exceptional Workplace Award recipient and featured in TIME’s World’s Best Companies and Fortune’s Southeast Asia 500 List. To learn more about Jollibee Group, visit www.jollibeegroup.com
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SIGNATURE Pursuant to the requirements of the Securities Regulation Code, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JOLLIBEE FOODS CORP ORATION Registrant RICHARD SHIN Chief Financial Officer & Corporate Information Officer