Jollibee Foods Corp. · PSE:JFC
Jollibee Foods — Q1 2026 Earnings Presentation
31 slides from Jollibee Foods's earnings presentation, May 2026
Slide 1: Q1 2026 Earnings Call
Jollibee Group Q1 2026 Earnings Call
Slide 2: Reminder to Participants of 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 Revenues Operating Income NIAT EBITDA New Stores Php113.9Bn Php76.5Bn Php3.9Bn Php1.5Bn Php9.3Bn 181 ▼ -18.2% YoY ▼ -4.9% YoY 149 International ▲ +10.3% YoY ▲ +9.0% YoY Elevated input costs ▼ -38.8% YoY Margin: 12.2% Total: 10,421, +4.9% YoY Robust systemwide sales growth across all
Slide 4: Highlights: What Happened This Quarter
Highlights: What Happened This Quarter WHAT WENT WELL Topline momentum globally Jollibee dominates globally Philippines up by 8.0%, PHL resilient, sustained int’l momentum International up by 13.5% SWS G%: Phl +7.6 %, Int’l +19.2% 181 new stores opened Tim Ho Wan rapid expansion 10,421 global footpr
Slide 5: Philippines
\ Jollibee Group 3 We Philippines
Slide 6: Domestic margin compression is pricing timing issue; pricing execution already underway
Domestic margin compression is pricing timing issue; Pricing execution already underway - GPM erosion is directly attributable to the Gross Profit Margin PHL Intl Group domestic business due to 19.4% 19.1% 19.0% pricing lag vs higher cost 18.9% base 19.1% 18.8% 18.6% 18.1% 18.4% 18.3% 17.4% 17.4% 16
Slide 7: Raw material inflation drives majority of cost of inventories increase
Raw material inflation drives majority of cost of inventories increase (c.80%) PPV 8% Forex Inflation Rate vs. FY25 5% Category % Share Jan-26 Feb-26 Mar-26 Chicken < 40.0 c.2.0% c.3.0% c.4.0% Freight Beef 8.0-9.0 <12.0% <14.0% <25.0% 10% Frozen Potatoes ~5.0 c.5.0% <8.0% c.4.0% Key Drivers of Cost
Slide 8: What is driving JFC's pricing decisions?
What is driving JFC’s pricing decisions? Our pricing philosophy remains to be measured, targeted, and selective, designed to protect margins without compromising traffic and providing value optionality for discerning consumers. Key considerations: 1. Address elevated inventory costs driven by sustai
Slide 9: JFC Philippines Core Business Drivers
JFC Philippines Core Business Drivers 1. The Philippines business posted 8.0% SWS growth in Q1’26, building off of Q1’25 high base growth (+11.9%), while delivering an Operating Income Margin of 7.7% 2. Network with significant runway: a. Metro Manila represents 1/3 of the network, and remains under
Slide 10: Jollibee
JOLLIBEE
Slide 11: JFC Philippines Core Business Driver #1: Jollibee
JFC Philippines Core Business Driver #1: Jollibee Jollibee Philippines: Undisputed and dominant market leader in Philippine QSR 1. Jollibee store network at 1,346 stores remains larger than next two western QSR competitors combined; Opened 13 new stores in Q1 with ~30% ROIC 2. Strong and consistent
Slide 12: High-Impact Campaigns Delivering Measurable Growth (1/2)
High-Impact Campaigns Delivering Measurable Growth (1/2) Chickenjoy “Walang Kapantay sa Yumburger “Glow-Up” campaign Burger Steak Supreme Generated quite a buzz for Sarap” (Unparalleled Taste) with Php 232Mn SWS and +4% contributed 87% of total Burger Jollibee Kids Meals with the campaign with Php 6
Slide 13: High-Impact Campaigns Delivering Measurable Growth (2/2)
High-Impact Campaigns Delivering Measurable Growth (2/2) Value Platforms Mix & Match contributing 12% Sales uplift Chickenjoy Sarap Savers to own the and still dominant at the Php79 and Php89 Php99 sweet spot price point, price point. contributing Php 3Bn sales in Q1’26, representing 8% share of bus
Slide 14: Mang Inasal
MANG INASAL
Slide 15: JFC Philippines Core Business Driver #2: Mang Inasal
JFC Philippines Core Business Driver #2: Mang Inasal Consistent double-digit growth underpinned by a highly scalable expansion model and strong unit economics 1. 610 store network (net +5.4% YoY) with 7 new stores at c.26% ROIC (actual ADS exceeding targets by 43% [Php 243k actual vs Php 170k target
Slide 16: International Operations
International Operations
Slide 17: Jollibee International Growth Outperforms Peers in Q1'26
3: Jollibee International Growth Outperforms Peers in Q1’26 SWS G% SSSG (%) Store G% Jollibee Brand Philippines 7.6 2.9 4.1 HK/MO 28.3 3.0 12.5 N. America 10.8 6.8 3.8 Jollibee International EMEAA 27.1 9.0 14.2 Expansion Accelerates: Total International 19.2 7.6 11.9 Footprint Reaches 544 Multi-bran
Slide 18: Jollibee International - North America
Jollibee International - North America 1. Organic Growth a. 63 consecutive months of positive Same Store Sales Growth (SSSG) both for traffic and average check 2. Franchising a. 141 active inquiries in both US and Canada b. Secured 7 multi-unit franchisees with 72 store development commitments; MUDA
Slide 19: Jollibee International - Vietnam
Jollibee International - Vietnam 1. Clear market leadership sustained across market share, revenue, and profitability, supported by ~100% mainstream patronage and disciplined store network expansion to 252 stores 2. Superior double-digit SWS (+46.1%) in Q1’26 comping from higher bases in previous qu
Slide 20: Compose Coffee
Compose Coffee 1. Network scale now at 3,015 stores, reinforcing platform strength and replicability; maintains lowest (less than 1%) closure rate in the industry 2. SWS increased by over 31% YoY, driven by solid execution and improving store economics 3. International expansion: Compose Coffee sign
Slide 21: Tim Ho Wan
Tim Ho Wan 1. Strong post-acquisition growth momentum, driven by: a. New stores are scaling fast and ahead of curve: c.3.6x EBITDA expansion HK stores doubled to 10 stores vs YoY; The at 22.5% topline growth 2025/2026 opening cohort is outperforming, with (ex. China) Yoho now the highest volume stor
Slide 22: Financial Highlights
Financial Highlights
Slide 23: Broad-based momentum with positive sales growth across all brands
Broad-based momentum with positive Sales growth across all brands v YoY Chg Q1 Q1 in Php Bn Abs %G 2026 2025 Philippines 63.2 58.6 4.7 8.0 China 5.5 5.1 0.4 8.5 North America 11.9 11.0 0.9 8.2 NA Asian Brands 8.2 7.5 0.7 9.3 Smashburger 3.7 3.5 0.2 5.8 EMEA PH Brands 8.0 6.3 1.6 25.9 CBTL * 10.0 9.0
Slide 24: Summary of QTD Key Metrics
Summary of QTD Key Metrics SSSG Stores SWS Revenues Q1’26 Q1’26 Q1’26 +3.5% 10,421 Php113.9Bn Php76.5Bn +4.9% +10.3% +9.0% TC +1.1% AC +2.4% Opened Closed 181 101 Gross Profit Net Operating Income NIAT Q1’26 Q1’26 Q1’26 Php12.7Bn Php3.9Bn Php1.5Bn -2.9% -18.2% -38.8% 16.5% Margin 5.2% Margin 1.9% Ma
Slide 25: Inflation moves to 7.2% in April, FY2026 revised to 6.4%
Inflation moves to 7.2% in April, FY2026 revised to 6.4% Q1’26 inflation is within range • Q1 Actual: 2.8% • Q1 Forecast Range: 2.6% – 3.0% • Inflation tracking as expected through end-Q1 Apr’26 showed a sharp upside break, with actual inflation rate at 7.2%, driven by oil price shock amid US–Iran w
Slide 26: Balance Sheet
Balance Sheet Amounts in Php Bn (unless stated otherwise) Q1'26 FY25 Cash and Cash Equivalents 27.2 29.3 and Short-term Investments 28.5 35.0 Financial Assets at FVTPL 0.0 0.0 Bank Loans 88.2 86.5 Net Debt 59.7 51.5 Working Capital Metrics (in days) Average Collection Period 12 13 Inventory Days 42
Slide 27: Financial Leverage Position
Financial Leverage Position Debt to EBITDA 4 2.16 2.14 Q1 2025 Q1 2026 Financial Covenant (Maximum) Total Liabilities to Equity 2.52 2.52 4 Q1 2025 Q1 2026 Financial Covenant (Maximum) Debt Service Coverage Ratio 4.51 5.52 1.3 Q1 2025 Q1 2026 Financial Covenant (Minimum)
Slide 28: Guidance
Guidance
Slide 29: Q1'26 Results vs 2026 Guidance
Q1’26 Results vs 2026 Guidance Results reflect timing and investment phasing, while remaining broadly consistent with full-year guidance assumptions. Management is reassessing guidance to be disclosed by Q2. SWS Growth 10.3% 8% to 12% SSSG 3.5% 4% to 6% Store Network Growth 1,200 to 1,300 4.9% 5% to
Slide 30: Call to Action - Q2 2026
Call to Action - Q2 2026 Management priorities to restore margins and reinforce long-term value creation: 1. [IMPLEMENTED] Scheduled pricing starting April to address margin compression while preserving demand elasticity and value choice for consumers 2. [IMPLEMENTED] Cost containment plan (Php 2.8B
Slide 31: Thank you
Jollibee Group We Thank you