Jollibee Group Q1 Income Slips, But Sales Jump by 19%
The Jollibee Group continues to post strong sales both locally and overseas, driven by the addition of new international brands to its portfolio and the continued expansion of its global store network.
In a statement, Jollibee Foods Corporation (JFC), also known as the Jollibee Group, reported an 8.1% decline in net income for the first quarter of 2025, while sales across its local and international stores remained strong.
Net income attributable to equity holders of the Parent Company (NIAT) dropped by 8.1% to Php2.4 billion, due to non-operating expenses.
Jollibee explained, however, that on a quarter-to-quarter basis, both operating income and NIAT still grew by double digits.
The positive reception to new stores opened and continued increase in sales of existing stores translated to a 17.6% rise in operating income to Php4.8 billion, both locally and overseas. Systemwide sales (SWS) grew by 18.9% to Php103.2 billion while consolidated revenues grew by 14.6% to Php70.2 billion
In the Philippines, Mang Inasal led the same store sales growth of 8.5%, with a 15.9% revenue share, followed by Red Ribbon (+11.1%), Jollibee (+8.6%), and Chowking (+6.2%). The higher sales volume led to an 11.9% increase in systemwide sales for the first quarter.
On the other hand, international same store sales growth (SSSG) was flat with only a 0.7% increase. The company attributed this to an 8% drop in sales in China, which pulled down the strong contributions from Europe, Middle East, Asia and Australia.
But systemwide sales of Jollibee Group’s international business has remained bullish, rising by 29.5%, mainly due to the acquisition of Compose Coffee from South Korea. The Group’s Coffee and Tea segment now comprises 45.4% of its international SWS, which surged by 62% for the first quarter, and Compose Coffee contributing 49% of the growth.
“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 Global President and CEO Ernesto Tanmantiong, said.
Jollibee Group’s global store network has increased to 9,935 stores, 44% higher than the previous year.
The Group’s strong performance comes after reporting a banner year in 2024, when net income reached Php10.3 billion for the first time. Chief Financial and Risk Officer Richard Shin expressed confidence that with their “discipline execution and solid operational fundamentals,” the growth momentum will continue.
