Jollibee Foods Corp. · PSE:JFC
Jollibee Foods — Conference Presentation (August 2024)
16 slides from Jollibee Foods's conference presentation, August 2024
Slide 1: Jollibee Foods Corporation Investor Conference Deck
Jollibee Foods Corporation Investor Conference Deck August 23 to 30, 2024
Slide 2: Company Overview
Company Overview Operations in 32 Brand Heritage of 46 17% 16% Countries and Territories years 19 17% A business specializing in the 16% 9,400+ development, operations, and Stores Worldwide Brands 15 of which are wholly or franchising of restaurants, along Organic: 6,965 as of majority owned by JFC
Slide 3: Our Brands
Our Brands Chicken & Burger Coffee & Tea Chinese Cuisine Better Burger Hong Zhuang Yuan Others
Slide 4: Summary of Q2'24 Key Metrics
Summary of Q2’24 Key Metrics Note: Percentages are versus SPLY unless stated otherwise SWS Revenues SSSG Stores Q2 ‘24 Q2 ‘24 Q2 ‘24 Php95.8Bn Php67.2Bn +7.4% 6,956 +12.1% +10.6% TC +4.9% +5.1% AC 2.4% Gross Profit Net Operating Income NIAT Q2 ‘24 Q2 ‘24 Q2 ‘24 Php13.1Bn Php5.1Bn Php3.0Bn +19.9% +26
Slide 5: Q2 SWS/SSS (RB) and Network Growth versus Industry Peers
Q2 SWS/ SSS (RB) and Network Growth versus Industry Peers SWS Store RB (%) Growth Growth JFC 7.4 12.1 5.1 Yum Brands -1.0 3.0 5.0 Yum China -4.0 4.0 13.4 McDonald's -1.0 -1.0 3.9 Restaurant Brands 1.9 5.0 4.0 Starbucks** -3.0 -1.0 6.1 Chipotle 11.1 18.2 7.4 Darden*** 0.0 6.8 6.1 Domino's 2.1 7.2 3.6
Slide 6: Summary of YTD Key Metrics
Summary of YTD Key Metrics Note: Percentages are versus SPLY unless stated otherwise SWS Revenues SSSG Gross Profit H1 ‘24 H1 ‘24 H1 ‘24 H1 ‘24 Php24.3Bn Php182.6Bn Php128.5Bn +6.3% +16.2% +11.3% +10.9% TC +5.2% AC 1.0% + 18.9% Margin Net Operating Income NIAT H1 ‘24 H1 ‘24 Php9.2Bn Php5.7Bn +20.6%
Slide 7: Q2 2024: IO faster pace growth on smaller base
Q2 2024: IO faster pace growth on smaller base (In Php Billions) 2023 2024 Key Financial Highlights 2024 vs 2023 for quarter ended June 30 Operating Income NIAT 5.1 3.0 3.0 +7.6% +26.8% 2.8 +30.8% +10.4% 4.2 2.3 4.0 3.8 0.9 +326.1% 0.2 0.0 Philippines International Global Philippines International G
Slide 8: International increasing EBITDA contribution on growing "size of pie"
International increasing EBITDA contribution on growing “size of pie” in Php Mn Q2'24 G% H1'24 G% Philippines 6,436 9.3% 12,506 14.0% People's Republic of China 233 39.8% 507 23.3% North America 875 62.0% 1,655 61.5% Asian Brands 841 70.3% 1,476 88.3% Smashburger 34 -26.1% 179 -25.7% Europe, Middle
Slide 9: Q2 Free Cash Flow Growth Strengthens Cash Position
Q2 Free Cash Flow Growth Strengthens Cash Position in Php Mn 1H 2024 Q2 2024 Q1 2024* Revenues 128,520 67,216 61,304 EBITDA 18,772 9,823 8,949 EBITDA Margin 14.6% 14.6% 14.6% Adjustments: Marked-to-market gain (loss) on FVTPL 159 82 77 Foreign Exchange gain - net -105 -91 -13 Underlying EBITDA 18,71
Slide 10: Financial Obligations
Financial Obligations VND, SGD, MYR Php4.0B PHP Amounts in PHPm Q2 2023 Q2 2024 4.4% Php26.3B Financing cost 740 742 29.1% Loans 14.3 Interest paid on debt 620 622 USD 66.5% Dividends paid on perpetual bond - - Preferred Php60.2B 12.0 Dividends paid on preferred shares 120 120 BY CURRENCY Shares Loa
Slide 11: Financial Obligations Maturity Profile
Financial Obligations Maturity Profile Amounts in PHP billions Php3B Preferred Shares USD Perpetual Bond 9 USD Senior Bonds Php9B Preferred Shares Bank Loans 22 17 17 3 5 3 3 H2 2024 2025 2026 2027 2028 2029 2030 Note: Excludes revolving credit line facilities
Slide 12: JFC Strategic Choices
JFC Strategic Choices Triple NIAT and grow ROIC to 20% by 2028 Scale the business with five must wins thru franchising Turnaround Expand Build coffee and tea Secure long-term Smashburger to a Grow and dominate Jollibee segment through viability and succeed profitable growth Philippines International
Slide 13: Jollibee US has the highest Unit Level Economics
Jollibee US has the highest Unit Level Economics Store Store NOI ADS (USD) Idx vs PH EBITDA Margin % Margin % Philippines 5,135 8% 10% Vietnam 1,828 0.4x 14% 16% 2-pc Cjoy 2-pc C-joy w/ PH vs US Value Meal 1 side and Drink Singapore 7,823 1.5x 20% 22% C-Joy per Unit PHP/Unit Index vs PH UAE 6,629 1.
Slide 14: Jollibee makes impact in America
Jollibee makes impact in America 14
Slide 15: Investment Criteria
Investment Criteria 1. Strategic fit and accretive to tripling NIAT and growing ROIC to 20% in 5 years 2. Growth potential in a targeted market with focus on operational leverage 3. Superior cash returns measured by incremental EBITDA margin & absolute cash contribution and enhanced NOPAT 4. Resourc
Slide 16: Jollibee Foods Corporation Investor Conference Deck
Jollibee Foods Corporation Investor Conference Deck August 23 to 30, 2024
Jollibee Foods — Conference Presentation (August 2024) on 6ix