China Business Shows Early Signs of Recovery, Signaling Potential Turnaround in Greater China
HONG KONG SAR - Media OutReach Newswire - 15 September 2025 - Jollibee Foods Corporation (PSE: JFC), also known as Jollibee Group and one of the largest and fastest growing Asian food service companies in the world, recently reported a record-high system-wide sales (SWS) of Php114.5 billion (approximately US$2.035 billion) or 19.6% year-on-year growth in the second quarter of 2025, based on its Unaudited Consolidated Financial Statements. In Hong Kong and the Greater China region, the company sees early signs of recovery, signaling a potential turnaround in performance.
Jollibee Group Chief Executive Officer, Ernesto Tanmantiong gave the following statement on the Jollibee Group's performance for the second quarter:
"The Jollibee Group delivered strong financial results for the second quarter, with both revenue and profit growth accelerating compared to the first quarter - reflecting our continued business momentum and improved operational execution.
On a year-on-year basis, our consolidated revenues rose by 15.5%, driving a 19.1% growth in operating income. This operating income growth highlights the strength of our coffee and tea segment and sustained contributions of our Jollibee International business.
Our record-high system-wide sales demonstrate both the scale and momentum of our business. SWS of the international business grew 32.6%, fueled by a 68.8% surge in its coffee and tea segment. Jollibee International also continued its momentum, with SWS increasing by 15.4% versus the same quarter last year.
These positive performances across the Jollibee Group brings us confidence that our business in China will follow suit in no time.
My sincere thanks to our teams for their unwavering commitment and exceptional effort. I look forward to building on this momentum as we continue to pursue excellence across all markets."
| Quarter 2 (Unaudited) | % Change | 1H 2025 (Unaudited) | % Change | |||
| Financial Data | ||||||
| In Php Millions Except for Per Share Data | 2025 | 2024 | 2025 | 2024 | ||
| System Wide Sales | 114,542 (US$2,035.5) | 95,799 (US$1,655.9) | 19.6 | 217,738 (US$3,812.2) | 182,626 (US$3,209.2) | 19.2 |
| Revenues | 77,626 (US$1,379.5) | 67,216 (US$1,161.8) | 15.5 | 147,852 (US$2,588.6) | 128,520 (US$2,258.4) | 15.0 |
| Operating Income | 6,037 (US$107.3) | 5,069 (US$87.6) | 19.1 | 10,846 (US$189.9) | 9,160 (US$161.0) | 18.4 |
| EBITDA | 11,153 (US$198.2) | 9,823 (US$169.8) | 13.5 | 20,929 (US$366.4) | 18,772 (US$329.9) | 11.5 |
| Net Income | 3,416 (US$60.7) | 3,187 (US$55.1) | 7.2 | 5,914 (US$103.6) | 5,891 (US$103.5) | 0.4 |
| Net Income Attributable to Equity Holders of | ||||||
| the Parent Company | 3,211 (US$57.1) | 3,041 (US$52.6) | 5.6 | 5,617(US$98.3) | 5,658 (US$99.4) | (0.7) |
| Earnings Per Share - Basic | 2.788 (US$0.050) | 2.622 (US$0.045) | 6.3 | 4.857 (US$0.085) | 4.866 (US$0.086) | (0.2) |
| Earnings Per Share - Diluted | 2.780 (US$0.049) | 2.618 (US$0.045) | 6.2 | 4.843 (US$0.085) | 4.858 (US$0.085) | (0.3) |
Complementing its growth in the second quarter, Jollibee Group also reported 19.2% growth in the first half compared to the same period last year. Same-Store Sales Growth (SSSG) for the quarter was 5.5% with AC and TC growth of 2.7% and 2.8%, respectively.
SSSG of the international business grew by 4.1% led by strong results from North America (NA) Asian Brands posting +7.8%, Europe, Middle East, Asia (EMEA) +7.7%, The Coffee Bean and Tea Leaf (CBTL) +4.9%, Milksha +4.7%, Highlands Coffee +4.4% and China +3.9%. SSSG of the Philippine business increased by 6.4% driven by Mang Inasal (+12.0%), Red Ribbon (+8.4%), Yoshinoya (+7.9%), Panda Express (+7.8%) and Jollibee (+7.0%).
Operating income rose by 19.1% to Php6.0 billion (approximately US$ 107.3 million) with margin improving by 30 bps to 7.8% in Q2 2025. Net income attributable to equity holders of the Parent Company increased by 5.6% to Php3.2 billion (approximately US$ 57.1 million), reversing the decline seen in Q1 2025. Earnings per share (basic) grew by 6.3% to Php2.788 (approximately US$ 0.050).
Jollibee Group Chief Financial and Risk Officer, Richard Shin gave the following statement:
"Our strong operating results this quarter reflect not only the positive impact of our strategic acquisition but also the underlying resilience of our business. Disciplined execution of both our cost optimization initiatives and portfolio innovation efforts helped stimulate growth and profitability. The expansion in operating margin and earnings underscores the effectiveness of our strategy.
I am particularly pleased with the successful expansion of our international business, which is now making a meaningful contribution to the overall performance.
- Jollibee international is delivering strong growth despite softness in the broader US market.
- The Coffee and Tea segment continues its upward trajectory, emerging as one of the fastest-growing segments. Expansion across key geographies is driving incremental revenue and margin enhancement.
- Compose Coffee is set to surpass 3,000 stores and remains on track to deliver a 36% Return on Invested Capital (ROIC) in 2025, demonstrating the value-creating potential of this acquisition.
- Smashburger has a clearly defined path toward improving financial performance, supported by operational improvements, product innovations and conversion of company-owned stores to franchised stores.
- China is showing early signs of recovery, marking a potential turnaround in performance.
Our strategic shift toward franchising, combined with disciplined capital allocation, is enhancing asset efficiency and ROIC. Today 69% of our stores operate under a franchised model, reflecting our ongoing transition to a more capital-light structure.
We also continue to deploy capital expenditures selectively, with a focus on supporting the growth of our high-performing Philippine business, Jollibee international and coffee and tea brands. This balanced approach ensures that our investments are aligned with both strategic priorities and return objectives.
We remain confident in our direction and capabilities, and we are reaffirming our full-year guidance."
At the end of June 2025, the Jollibee Group's store network increased by 45.5% to 10,119 compared to a year ago: Philippines (3,424) and International (6,695) - 547 in China, 357 in North America, 400 in EMEA, 896 with Highlands Coffee mainly in Vietnam, 1,261 with CBTL, 346 with Milksha, 2,809 with Compose Coffee, and 79 with Tim Ho Wan.
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 JFC 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 JFC's expectations. All subsequent written and oral forward-looking statements attributable to JFC or person acting on behalf of JFC expressly qualified in their entirety by the above cautionary statements.
Hashtag: #JollibeeGroup
The issuer is solely responsible for the content of this announcement.
HONG KONG SAR - Media OutReach Newswire - 15 September 2025 - Jollibee Foods Corporation (PSE: JFC), also known as Jollibee Group and one of the largest and fastest growing Asian food service companies in the world, recently reported a record-high system-wide sales (SWS) of Php114.5 billion (approximately US$2.035 billion) or 19.6% year-on-year growth in the second quarter of 2025, based on its Unaudited Consolidated Financial Statements. In Hong Kong and the Greater China region, the company sees early signs of recovery, signaling a potential turnaround in performance.
Jollibee Group Chief Executive Officer, Ernesto Tanmantiong gave the following statement on the Jollibee Group's performance for the second quarter:
"The Jollibee Group delivered strong financial results for the second quarter, with both revenue and profit growth accelerating compared to the first quarter - reflecting our continued business momentum and improved operational execution.
On a year-on-year basis, our consolidated revenues rose by 15.5%, driving a 19.1% growth in operating income. This operating income growth highlights the strength of our coffee and tea segment and sustained contributions of our Jollibee International business.
Our record-high system-wide sales demonstrate both the scale and momentum of our business. SWS of the international business grew 32.6%, fueled by a 68.8% surge in its coffee and tea segment. Jollibee International also continued its momentum, with SWS increasing by 15.4% versus the same quarter last year.
These positive performances across the Jollibee Group brings us confidence that our business in China will follow suit in no time.
My sincere thanks to our teams for their unwavering commitment and exceptional effort. I look forward to building on this momentum as we continue to pursue excellence across all markets."
| Quarter 2 (Unaudited) | % Change | 1H 2025 (Unaudited) | % Change | |||
| Financial Data | ||||||
| In Php Millions Except for Per Share Data | 2025 | 2024 | 2025 | 2024 | ||
| System Wide Sales | 114,542 (US$2,035.5) | 95,799 (US$1,655.9) | 19.6 | 217,738 (US$3,812.2) | 182,626 (US$3,209.2) | 19.2 |
| Revenues | 77,626 (US$1,379.5) | 67,216 (US$1,161.8) | 15.5 | 147,852 (US$2,588.6) | 128,520 (US$2,258.4) | 15.0 |
| Operating Income | 6,037 (US$107.3) | 5,069 (US$87.6) | 19.1 | 10,846 (US$189.9) | 9,160 (US$161.0) | 18.4 |
| EBITDA | 11,153 (US$198.2) | 9,823 (US$169.8) | 13.5 | 20,929 (US$366.4) | 18,772 (US$329.9) | 11.5 |
| Net Income | 3,416 (US$60.7) | 3,187 (US$55.1) | 7.2 | 5,914 (US$103.6) | 5,891 (US$103.5) | 0.4 |
| Net Income Attributable to Equity Holders of | ||||||
| the Parent Company | 3,211 (US$57.1) | 3,041 (US$52.6) | 5.6 | 5,617(US$98.3) | 5,658 (US$99.4) | (0.7) |
| Earnings Per Share - Basic | 2.788 (US$0.050) | 2.622 (US$0.045) | 6.3 | 4.857 (US$0.085) | 4.866 (US$0.086) | (0.2) |
| Earnings Per Share - Diluted | 2.780 (US$0.049) | 2.618 (US$0.045) | 6.2 | 4.843 (US$0.085) | 4.858 (US$0.085) | (0.3) |
% Change
% Change
Complementing its growth in the second quarter, Jollibee Group also reported 19.2% growth in the first half compared to the same period last year. Same-Store Sales Growth (SSSG) for the quarter was 5.5% with AC and TC growth of 2.7% and 2.8%, respectively.
SSSG of the international business grew by 4.1% led by strong results from North America (NA) Asian Brands posting +7.8%, Europe, Middle East, Asia (EMEA) +7.7%, The Coffee Bean and Tea Leaf (CBTL) +4.9%, Milksha +4.7%, Highlands Coffee +4.4% and China +3.9%. SSSG of the Philippine business increased by 6.4% driven by Mang Inasal (+12.0%), Red Ribbon (+8.4%), Yoshinoya (+7.9%), Panda Express (+7.8%) and Jollibee (+7.0%).
Operating income rose by 19.1% to Php6.0 billion (approximately US$ 107.3 million) with margin improving by 30 bps to 7.8% in Q2 2025. Net income attributable to equity holders of the Parent Company increased by 5.6% to Php3.2 billion (approximately US$ 57.1 million), reversing the decline seen in Q1 2025. Earnings per share (basic) grew by 6.3% to Php2.788 (approximately US$ 0.050).
Jollibee Group Chief Financial and Risk Officer, Richard Shin gave the following statement:
"Our strong operating results this quarter reflect not only the positive impact of our strategic acquisition but also the underlying resilience of our business. Disciplined execution of both our cost optimization initiatives and portfolio innovation efforts helped stimulate growth and profitability. The expansion in operating margin and earnings underscores the effectiveness of our strategy.
I am particularly pleased with the successful expansion of our international business, which is now making a meaningful contribution to the overall performance.
- Jollibee international is delivering strong growth despite softness in the broader US market.
- The Coffee and Tea segment continues its upward trajectory, emerging as one of the fastest-growing segments. Expansion across key geographies is driving incremental revenue and margin enhancement.
- Compose Coffee is set to surpass 3,000 stores and remains on track to deliver a 36% Return on Invested Capital (ROIC) in 2025, demonstrating the value-creating potential of this acquisition.
- Smashburger has a clearly defined path toward improving financial performance, supported by operational improvements, product innovations and conversion of company-owned stores to franchised stores.
- China is showing early signs of recovery, marking a potential turnaround in performance.
Our strategic shift toward franchising, combined with disciplined capital allocation, is enhancing asset efficiency and ROIC. Today 69% of our stores operate under a franchised model, reflecting our ongoing transition to a more capital-light structure.
We also continue to deploy capital expenditures selectively, with a focus on supporting the growth of our high-performing Philippine business, Jollibee international and coffee and tea brands. This balanced approach ensures that our investments are aligned with both strategic priorities and return objectives.
We remain confident in our direction and capabilities, and we are reaffirming our full-year guidance."
At the end of June 2025, the Jollibee Group's store network increased by 45.5% to 10,119 compared to a year ago: Philippines (3,424) and International (6,695) - 547 in China, 357 in North America, 400 in EMEA, 896 with Highlands Coffee mainly in Vietnam, 1,261 with CBTL, 346 with Milksha, 2,809 with Compose Coffee, and 79 with Tim Ho Wan.
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 JFC 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 JFC's expectations. All subsequent written and oral forward-looking statements attributable to JFC or person acting on behalf of JFC expressly qualified in their entirety by the above cautionary statements.
Hashtag: #JollibeeGroup
The issuer is solely responsible for the content of this announcement.
About Jollibee Group
Jollibee Foods Corporation (PSE: JFC) (the "Company") is one of the world's fastest-growing restaurant companies, driven by its purpose of spreading joy through superior taste. It manages and operates a portfolio which includes 19 brands (the "Jollibee Group") with over 10,000 stores and cafés 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 Company 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 four-time Gallup Exceptional Workplace Award recipient and featured in TIME's World's Best Companies and Fortune's Southeast Asia 500 List
** The press release content is from Media OutReach Newswire. Bastille Post is not involved in its creation. **
