Jollibee Group Reports Strong Q1 2025, Fueled by Global Expansion with Strong PH and International Growth
For the quarter ending March 31, 2025, the Jollibee Group reported system-wide sales (SWS) of Php 103.2 billion (US$ 1.76 billion), an increase of 18.9% compared to Php 86.8 billion (US$ 1.48 billion) in the same period last year. Consolidated revenues grew by 14.6% year-over-year to Php 70.2 billion (US$ 1.20 billion). This growth was driven by a combination of 5.5% same store sales growth (SSSG), mainly from volume growth and new store contributions.
Same-Store Sales Growth (SSSG) in the Philippines rose by 8.5%, led by Mang Inasal (+15.9%), Red Ribbon (+11.1%), Jollibee (+8.6%), and Chowking (+6.2%). This drove an 11.9% increase in system-wide sales in Q1 2025, primarily fueled by higher transaction volumes. International SSSG grew slightly by 0.7%, with strong contributions from Europe, Middle East, Asia, and Australia (EMEAA) at +5.3%, North American operations of Asian brands—such as Jollibee, Chowking, and Red Ribbon—at +4.8%, Highlands Coffee +4.4%, Milksha +3.1%, and The Coffee Bean & Tea Leaf (CBTL) +2.8%. The China business declined by 8.3%, although Yonghe King showed sequential improvement in transaction count. Smashburger also posted an 8.0% decline in SSSG, mainly due to lower transaction volumes.
Jollibee Group Global President and CEO Ernesto Tanmantiong commented, 'We are pleased with our first quarter performance, particularly the continued growth in international markets such as Singapore, where our brands are gaining deeper resonance with local and regional consumers. We are proud to see our brands thrive in diverse cultural settings affirming our belief in the global appeal of the Jollibee Group portfolio. We are also optimistic about the addition of another strong brand in our portfolio, Tim Ho Wan, which further strengthens our position in one of the world's most dynamic consumer markets and supports our long-term international growth strategy.'
Jollibee Group's international business saw system-wide sales (SWS) increase by 29.5%. This performance was significantly supported by the acquisition of Compose Coffee, which contributed 17.8% to the international business' SWS growth. The Group's Coffee and Tea segment—now comprising 45.4% of its international SWS—recorded a 62.2% increase, with Compose Coffee accounting for 49% of this growth.
Tim Ho Wan, now 100% owned by the Jollibee Group effective 02 January 2025, contributed to the international business' growth in the quarter.
Flagship brand Jollibee system-wide sales rose by 13.9% globally, with standout performances in several international markets. The Philippines recorded 13.3% growth, China (Hong Kong and Macau) 12.9%, North America 10.9%, Southeast Asia 27.8%, the Middle East 12.9%, Europe 10.9%, and Guam 20.2%.
These results underscore the Jollibee brand's growing global appeal and its positioning to win with consumers across diverse international markets. Singapore alongside other Southeast Asia markets continue to play an important role in the Group's expansion, reflecting increased brand recognition and strong operational performance in the region.
Operating income grew by 17.6% to Php 4.8 billion (US$ 81.9 million), despite a 56.2% increase in advertising and promotions aimed at building brand equity and expanding market reach. The corresponding margin improved by 10 basis points due to higher gross profit levels and a modest rise in general and administrative expenses.
Net income attributable to equity holders of the Parent Company (NIAT) decreased by 8.1% to Php 2.4 billion (US$ 41.0 million), driven by higher below-the-line items. However, quarter-on-quarter, both operating income and NIAT increased by double digits. The year-over-year NIAT decline was largely due to non-operational factors.
Jollibee Group Global Chief Financial and Risk Officer Richard Shin commented, 'We delivered strong revenue and operating income growth while investing meaningfully in brand building. Our disciplined execution and solid operational fundamentals helped us expand margins, even with elevated promotional spending. We remain confident in achieving our full-year 2025 guidance.'
As of March 2025, the Jollibee Group's global store network increased by 44.3% year-over-year to 9,935 stores. This includes 3,393 stores in the Philippines and 6,542 stores internationally, comprising 560 in China, 361 in North America, 393 in EMEAA, 865 with Highlands Coffee primarily in Vietnam, 1,246 with CBTL, 340 with Milksha, 2,700 with Compose Coffee, and 77 with Tim Ho Wan.
The Jollibee Group's performance in Q1 2025 reflects its focused execution and the strength of its global portfolio. The continued success in Southeast Asia, including Singapore, supports its ambition to become one of the top five restaurant companies in the world.
Corporate Action
On the corporate governance front, the Jollibee Group's Board of Directors approved the declaration of a regular cash dividend of Php 1.33 (US$ 0.024) per share of common stock on April 14, 2025. The dividend was released on May 16, 2025, to shareholders of record as of May 2, 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.
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