Hitting new heights was definitely in the theme for the homegrown fastfood conglomerate’s recent annual meeting.
In its annual stockholders’ meeting, Jollibee Foods Corporation (JFC) disclosed that the business was able to achieve a record-breaking performance for the third consecutive year in 2024.
This, as the group reached its highest-ever Net Income and System-wide Sales (SWS) that year.
On top of that, the iconic red smiling bee could keep its face the same way as the company was able sustain its growth in the first quarter of 2025.
“From the start, we’ve dared to dream big—dreams that have shaped our journey and pushed
us to reach higher,” said Jollibee Group Global President and CEO Ernesto Tanmantiong.
He continued, “Each milestone brings us closer to our bold goal of tripling Net Income after Tax and reaching a 20% Return on Invested Capital by 2028 and standing among the Top 5 restaurant companies in the world.”
According to him, 2024 was record-breaking year for the group, which built upon the successes made the year prior.
For 2024, Net Income Attributable to Equity Holders of the Parent Company surpassed the Php10 billion mark for the first time, reaching Php 10.3 billion.
Meanwhile, System-wide Sales hit an all-time high of Php 390.3 billion—growing 13% year-over-year—driven by same-store sales growth of 7.5% in the Philippines and 2.8% internationally.
This was underpinned by sustained customer demand and disciplined market execution, according to the Jollibee Group.
Moreover, the momentum was kept in Q1 2025, with double-digit growth in Revenue (up by 14.6%), System-wide Sales (up 18.9%), and Operating Income (up 17.6%).
Both the conglomerate’s Philippine and International businesses posted strong performances, growing by 11.9% and 29.5%, respectively, during that same period.
Over to its Operating profit, it showed an increase of 17.2% to Php16.9 billion, with the gross profit margin expanding by 60 basis points to 19.2% and the operating income margin improving to 6.3%
In 2024, Jollibee also continued expanding its global footprint, opening 674 new stores in 2024—with 536 of those being located overseas.
This major expansion pushed the total store network to over 9,700 outlets worldwide for JFC, with franchisees operate 69% of these.
As regards to its coffee and tea segment, that also saw major growth with the acquisition of Korean chain Compose Coffee in August 2024.
Adding that brand into the mix, the segment now spans 5,000+ stores globally (78% of which are franchised), and delivered 37% growth in system-wide sales with Compose Coffee contributing 22.6%.
As per its website, the corporation owns multiple brands under its portfolio, including its namesake Filipino fastfood chain Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Coffee Bean and Tea Leaf (CBTL), Highlands Coffee, Smash Burger, and Milksha.
The group also operates the Philippine franchises to popular global brands like Burger King, Panda Express, and 50% of Yoshinoya Philippines.