Jollibee Foods Corp. · PSE:JFC
Jollibee Foods — Q2 2026 Earnings Presentation
41 slides from Jollibee Foods's earnings presentation, Aug 17, 2026
Slide 1: Q2 2026 Earnings Call
Q2 2026 Earnings Call Speakers: Richard Shin, Cossette Palomar Moderator: Tris Lopez August 17, 2026
Slide 2: Reminder to Participants of Jollibee Foods Corporation's Investor/Analyst Briefing
Reminder to Participants of Jollibee Foods Corporation’s Investor/Analyst Briefing This earnings call may include 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 fro
Slide 3: At A Glance
At A Glance SWS Revenue Gross Profit Operating Income NIAT EBITDA Php130.8Bn Php85.9Bn Php15.9Bn Php6.2Bn Php3.4Bn Php12.0Bn ▲ +14.2% ▲ +10.7% ▲ +7.1% ▲ +1.8% ▲ +5.7% ▲ +7.3% 18.5% Margin 7.2% Margin 4.0% Margin 14.0% Margin Growth, Recovery & Record SWS and Earnings reflect a STRONGER-THAN-EVER JOL
Slide 4: Accelerating, broad-based topline growth, reinforced by high-quality, franchise-led expansion
Accelerating, broad-based topline growth, reinforced by high-quality, franchise-led expansion Revenue Growth Systemwide Sales Same Store Sales Growth Global Store Network +10.7% +14.2% +2.7% 10,767 Accelerating vs Q1 2026 Broad-based across every region Traffic +1.5% · Average Check +1.1% +6.4% YoY
Slide 5: Execution discipline is translating to visible Q2 momentum
Execution discipline is translating to visible Q2 momentum Q1 priorities remain on track, supported by pricing actions, global cost discipline, and a franchise-first path to asset light-growth Investor Takeaway: JFC's growth model is now more powerful and capital efficient with franchising as the de
Slide 6: Strength Across the P&L: Q2 Growth from Revenue to NIAT
Strength Across the P&L: Q2 Growth from Revenue to NIAT STRONGER THAN EVER: Every key metric improved from Q1 to Q2, and profit grew faster than revenue This was operating leverage from disciplined execution, not a single-metric story: growth flowed through to gross profit, operating income, EBITDA
Slide 7: Gross Profit Margin climbs from 16.5% in Q1 to 19.0% (Jun'26)
Gross Profit Margin climbs from 16.5% in Q1 to 19.0% (Jun’26) as recovery builds through Q2’26 (18.5% GPM) Pricing actions from April, combined with productivity, sourcing and cost discipline, drove the sequential recovery; Operating Income and NIAT margins turned up sharply in May to June Gross Pro
Slide 8: Q2 Recovery is Real Despite a Challenging First Half
Q2 Recovery is Real Despite a Challenging First Half Q2 margin recovery and improving exit rates provide a stronger foundation entering H2 Cost pressure overhang in H1 Recovery accelerated Strong foundation entering H2 through Q2 H1 2026 YoY Margin (%) Q1’26 Q2’26 Jun • Controlled pricing actions im
Slide 9: Decisive portfolio actions strengthen the foundation for growth & earnings
Decisive portfolio actions strengthen the foundation for growth & earnings Php 6.2 Bn Php 239.5Mn Php 6.4Bn +1.8% YoY · 7.2% margin one-off, transition-related costs +5.7% YoY · 7.5% margin Statutory Reported Operating Income China & Smashburger transition costs Management Adjusted Operating Income*
Slide 10: Philippines
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Slide 11: JFC Philippines resilience is showing—and the runway is still long
JFC Philippines resilience is showing—and the runway is still long PH resilience is anchored on Champion Brands Jollibee, Mang Inasal, and Chowking, contributing c.90% of systemwide sales and c.81% of operating income PH Resilience in the Numbers: Systemwide Sales Operating Income Average Daily Sale
Slide 12: Jollibee extends its lead through bestseller superiority and a #1 coffee launch
Jollibee extends its lead through bestseller superiority and a #1 coffee launch Systemwide Sales Growth Same Store Sales Store Network +6.6% +2.1% 1,359 +23 in Q2’26 · beats Western vs LY · 13.3% base in 2025 ADTC robust at ~1,100 competitors A clear and widening market lead Growth engines BEO share
Slide 13: JB Coffee Blends, now the #1 Coffee Brand in the Philippines
JB Coffee Blends, now the #1 Coffee Brand in the Philippines; c. 2.4x Occasion Share MARKET SHARE PERFORMANCE Apr’26 Occasion Share % YTD P11 2023 BEFORE LAUNCH 17.4% 36.6% 25% 37% 19.1% 8% 7% 23% 18.5% 8.4% Selected competitors are presented on an anonymized basis in accordance with confidentiality
Slide 14: Mang Inasal pairs double-digit sales growth with 32% profit growth
Mang Inasal pairs double-digit sales growth with 32% profit growth to fund expansion Systemwide Sales BU Operating Income* Store Network Franchisee Payback +10.7% +32% 615 c. 3 yrs vs LY · 13.9% base in 2025 3× sales growth · 40.4% margin +32 YoY · 8 new stores in Q2 Path to 1,000 stores by 2028 Man
Slide 15: Emerging Brand: Compose Coffee
EMERGING BRAND: COMPOSE COFFEE
Slide 16: Jollibee International
Jollibee Group We Jollibee International
Slide 17: Jollibee International Outperformed Major Global QSR Peers
Jollibee International Outperformed Major Global QSR Peers with superior topline metrics SWS G% SSSG (%) Store G% Q2’26 SAME STORE SALES vs. QSR PEERS Jollibee Brand Philippines 6.6 2.1 3.7 N. America 21.6 8.6 2.8 EMEAA 26.2 5.1 14.8 Total International 24.3 6.4 12.3 Multi-brand Peers Yum Brands 5.0
Slide 18: North America: Scaling through franchising, brand strength & digital engagement
North America: Scaling through franchising, brand strength & digital engagement Stores committed Q2’26 JBUS SSSG SSSG Streak Digital engagement c. 100 +9.8% 66 • Loyalty program by 8 franchise partners through added c.182k new outpacing industry and peers Straight months of positive comps 2033 membe
Slide 19: North America Franchise momentum builds: Three 2026 openings and c.100 stores committed
North America Franchise momentum builds: Three 2026 openings and c.100 stores committed 3 51 c.100 Stores opening in 2026 New commitments, 2026 YTD Total units committed 2026 STORE OPENINGS SIGNED NETWORK DEVELOPMENT AGREEMENTS Bronx, NY: opened Jul 1 Oklahoma: 10 stores Roseville, CA: opened Aug 7
Slide 20: EMEAA: Vietnam's growth momentum, resilient ME operations
EMEAA: Vietnam’s growth momentum, resilient ME operations Jollibee Vietnam Success Story: Leading in Topline, Rapidly Approaching Network Leadership Q2’26 SWS Growth Q2’26 SSSG Gross Store Openings +47.6% +17.9% 19 (out of 27 across EMEAA) Growth leader for the quarter Payback tracking to target Vie
Slide 21: Smashburger
Smashburger
Slide 22: "Shrink to Grow" Strategy lifts SSSG by +7%
“Shrink to Grow” Strategy lifts SSSG by +7% Deliberate closures of dilutive units (180 open vs 203 a year ago) lifted comparable sales +7.0% and transactions +10.4%; adjusted SBU NOI held roughly flat with last year despite 23 fewer restaurants. Q2’26 SSSG Average Daily Sales Non-traditional pipelin
Slide 23: Tim Ho Wan
Tim Ho Wan
Slide 24: Tim Ho Wan Highlights
Tim Ho Wan Highlights Systemwide sales up 23.0% in Q2 as company-owned markets and pricing actions lift sales productivity +23.0% +1.8% +74.8% 50 → 62 Global THW SWS Growth Same Store Sales Growth Hong Kong SWS Growth Net Promoter Score Q2 YoY Q2 YoY June YoY Q2 Pricing & menu architecture Hong Kong
Slide 25: China
China
Slide 26: China: Authentic Chinese food in the value segment, scaling asset light
China: Authentic Chinese food in the value segment, dominating breakfast and scaling asset light model Franchise-led expansion drives scale and returns, with franchise mix increasing to 62% from 14% a decade ago, enabled by a 100% franchised Super Value rollout across 13 cities and attractive c. 2yr
Slide 27: Compose Coffee
Compose Coffee Jollibee Group M&
Slide 28: Compose Coffee: Building a scalable platform for sustained profitable growth
Compose Coffee: Building a scalable platform for sustained profitable growth Q2 execution reinforced Compose Coffee's growth platform through accelerated expansion, margin-enhancing efficiencies, and broader customer reach. Gross Store Openings New International Markets Annualized Savings Institutio
Slide 29: Financial Highlights
Jollibee Group Financial Highlights
Slide 30: Philippine Anchors EBITDA Growth while International Builds Future Earnings Capacity
Philippine Anchors EBITDA Growth while International Builds Future Earnings Capacity Group EBITDA PH : Intl Mix Shabu All Day Php12.0Bn 61% : 39% Php0.2Bn ▲ 7.3% YoY New acquisition contributing c.1% YoY YoY In Php Billions Q2 26 Q2 25 Mix % H1 FY26 H1 FY25 Mix % Int’l impacted by: Growth Growth Phi
Slide 31: Converting International Growth into Higher Quality Earnings
Converting International Growth into Higher Quality Earnings Strong international sales growth while executing actions to improve future earnings quality and capital efficiency Growth Engines Near-term EBITDA Actions Underway Expected Outcome headwinds YoY Q2 2026 Growth • China store model • 77% of
Slide 32: Q2 Free Cash Flow from Operations grew 28%; Self funding Capex
Q2 Free Cash Flow from Operations grew 28%; Self funding Php 6.2 Bn Capex requirements with dividends maintained OPERATING CASH FLOW FCF FROM OPS ACQUISITION Php 14.1B Php 11.1B Php 4.8B ▲ 29% YoY ▲ 39% YoY Growth investment Q2 CASH GENERATION: Q2’26 vs Q2’25 in Php Bn CASH FLOW CASCADE in Php Bn In
Slide 33: Balance Sheet Discipline Supports Growth and Shareholder Returns
Balance Sheet Discipline Supports Growth and Shareholder Returns 2.2x 5.4x Php 30.7 Bn 83% Debt / EBITDA Debt Service Cover Liquidity Long-term Debt vs 4.0x covenant ceiling over 4x the 1.3x minimum cash & investments Well laddered maturities Metric (Php billion unless noted) H1’26 FY25 Change Produ
Slide 34: Guidance
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Slide 35: FY 2026 Guidance
FY 2026 Guidance The revised guidance reflects the impact of the headwinds faced in H1 amid the challenging macroeconomic and operating environment amid geopolitical tensions, as well as the uplift from mitigating measures implemented since Q2. Metric Original Guidance Revised Guidance Remarks SWS G
Slide 36: The second quarter represents an important step forward in our earnings momentum
The second quarter represents an important step forward in our earnings momentum. Pricing actions implemented beginning in April, together with productivity, sourcing, and cost discipline initiatives, contributed to the recovery in gross profit margins and supported stronger operating income and net
Slide 37: Strong fundamentals: Consistently Compounding and Intact
Strong fundamentals: Consistently Compounding and Intact Five proof points from Q2 2026 — record scale, intact demand, margin recovery, disciplined allocation, and accretive M&A 1 Record SWS and 2 Sustained comps 3 Margin recovery 4 Disciplined cost 5 Acquisitions NIAT and traffic amid inflation all
Slide 38: Demand is intact and the margin is already recovering
Demand is intact and the margin is already recovering Comps are traffic-led, and gross margin rose every month of Q2 — pricing, sourcing and productivity actions are landing Gross profit margin (%) Same store sales growth build (%) Systemwide sales growth, YoY (%) +2.7% 19.0% Group Total +14.2% 18.5
Slide 39: Disciplined allocation and accretive M&A
Disciplined allocation and accretive M&A We are spending less capital per unit of growth, holding costs down through the cycle, and buying earnings at attractive multiples Asset-light growth and capital discipline Recent acquisitions: accretive from day one Discipline lever FY26 original FY26 revise
Slide 40: Compounding returns: ROIC, capital allocation, cash and portfolio focus
Compounding returns: ROIC, capital allocation, cash and portfolio focus Every peso of capital is underwritten to a return hurdle — and the portfolio is being rebalanced toward our highest-return growth platforms 01 ROIC focus 02 Capital allocation 03 Cash generation and funding 04 Portfolio rebalanc
Slide 41: Thank you
Thank you Jollibee Group we