Jollibee Foods Corp. · PSE:JFC
Jollibee Foods — Q3 2025 Earnings Presentation
38 slides from Jollibee Foods's earnings presentation, 2025
Slide 1: Q3 2025 Earnings Call
Jollibee Group Q3 2025 Earnings Call
Slide 2: Reminder to Participants of Investor/Analyst Briefing
Reminder to Participants of Jollibee Food 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 from
Slide 3: Top of mind
; | Top of mind....
Slide 4: How resilient were PH SSSG and margins amid weather disruption?
1. How resilient were PH SSSG and margins amid weather disruption? 18.9 19.6 15.9 16.8 13.2 SSSG 8.5 6.4 7.4 6.4 SWS G% 1.2 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Election Election spending 14 typhoons spending Celebratory vs. 9 SPLY— 9.4% occasions (ie: deemed a 0.3% 8.6% end of school in seasonality -1.0%
Slide 5: Natural shifts in consumers' priorities affect SSSG seasonality
1. How resilient were PH SSSG and margins amid weather disruption? Natural shifts in consumers’ priorities tend to affect the seasonality of SSSG • Consumers redirect their spending: back-to-school shopping takes top priority • Digital channels help support sales during typhoons, but some regions co
Slide 6: What progress has Jollibee International made?
2: What progress has Jollibee International made? Outpacing Peers: Double-Digit International Growth Robust international growth, fueled by strong mainstream adoption, reinforces our strategy to expand beyond the Philippines SWS G% SWS G% SSSG (%) 24.6 Jollibee Brand 16.7 13.7 HK/MO 13.7 13.2 N. Ame
Slide 7: Jollibee International: North America
2.a: Jollibee International: North America • Franchising updates: • Opened the first franchised Jollibee store last August—Queens Blvd., NY (USD ~17k ADS) • Building a high-performance franchise team to support successful execution, including onboarding of a VP for Franchising • 47 multi-unit develo
Slide 8: Jollibee International: North America (Golden State Warriors)
2.a: Jollibee International: North America Jollibee US amplifies brand equity and market reach through high-profile partnership with Golden State Warriors…
Slide 9: Jollibee International: North America (Katseye collaboration)
2.a: Jollibee International: North America … and with international K-pop sensation Katseye Collab Launch Day Highlights: • Less than 30 mins after launch, Black Box Tees sold out • Tanks and Tees sold out mid- afternoon of launch day • 660 million impressions
Slide 10: Jollibee International - Vietnam
2.b: Jollibee International - Vietnam Third in store count... • Outstanding double-digit SWS growth (+40.7%) Lotteria 268 and SSSG (25.5%) from Jollibee Vietnam KFC 234 • Leading Vietnam with 22% market share and Jollibee 224 outperforming rivals in revenue and profit growth even with leaner footpri
Slide 11: How is Coffee and Tea positioned to sustain leadership?
3: How is Coffee and Tea positioned to sustain leadership? Double-digit high-teens EBITDA growth ~77% FR ratio for Coffee and Tea, led by G% vs +48.8% +58.8% +62.2% +68.8% +53.4% Compose Coffee, CBTL LY SWS 1,271 CBTL 11.5 Highlands Coffee 7.8 6.7 6.1 2,906 Milksha 4.0 928 1.5 1.5 1.4 1.4 1.4 2.5 Co
Slide 12: Coffee and Tea - Highlands Coffee and CBTL
3.a Coffee and Tea - Highlands Coffee and CBTL Highlands Coffee Coffee Bean and Tea Leaf • From Vietnam’s top café brand to the global • Now present in 24 markets worldwide, with recent authority in Vietnamese specialty coffee deeply strategic expansion into the Maldives - embedded in Robusta herita
Slide 13: Coffee value accretion continues
3.b Coffee value accretion continues Impactful collaboration with BTS V, sustained expansion momentum drive performance Revenue SWS 11.5 Revenue +413% YoY SWS +190% YoY Sales uplift from 7.8 campaign exceeded internal targets 6.7 coupled with 6.1 aggressive store rollout of ~300 4.5 4.0 3.9 franchis
Slide 14: Baseline earnings contribution preserved post-3P transition
3.c Baseline absolute earnings contribution was preserved post-3P transition amidst margin softness* Compose Coffee’s OI climbed to 31% while hitting 3,000** store mark, reinforcing its growth trajectory Compose Coffee Margin Analysis: *Reported margin dip driven solely by accounting treatment - cor
Slide 15: Illustrative transition impact from 4PL to 3PL
3.c Illustrative transition impact from 4PL to 3PL In 2025, Compose Coffee Illustrative data only Absolutes Margins transitioned from a 4PL to a for discussion 4PL 3PL Abs ∆ G% 4PL 3PL ∆ 3PL logistics model, in line with prevailing industry Revenue 120 220 100 83.3% 100% 100% - practice in Korea. Pr
Slide 16: Coffee and tea business holds firm despite price pressures
3.d Coffee and tea business holds firm despite price pressures Coffee and cocoa prices are expected to decline next year as bumper harvests boost global surpluses, though agricultural markets remain increasingly vulnerable to geopolitical risks, according to a new Rabobank report. - Bloomberg, 13 No
Slide 17: Smashburger's roadmap to financial viability
4: Smashburger’s defined roadmap to financial viability—c.15% profit loss improvement vs. LY Business Fundamentals: • Named Restaurant Ground Beef Marketer of the Year by Certified Angus Beef. • Chowhound crowned Smashburger’s Chocolate Shake #1 • Featured by Eat This, Not That! among top fast-food
Slide 18: Smashburger: Franchising
4: Smashburger’s defined roadmap to financial viability—c.15% profit loss improvement vs. LY Franchising: • Volumes from non-traditional (non- trad) locations enable our franchisee achieve 20%++ EBITDA margins; non- trad locations comprise ~18% of store network (44% of franchised stores) and 30% SWS
Slide 19: Updates on China
5: Updates on China Further progress proves momentum is building • SSSG continued to accelerate sequentially at 8.0% in Q3’25 (vs. -8.3% in Q1’25 and 3.9% in Q2’25) as operational efficiencies and cost controls are delivering, bolstering confidence that momentum can be carried on for the rest of the
Slide 20: Tim Ho Wan positioned for scalable global opportunities
6: Tim Ho Wan positioned for scalable global opportunities EBITDA cash contribution increased by 4x and 3x for Q3’25 and YTD’25, respectively Strategic Focus: Hong Kong & U.S. as Priority Growth Markets • Hong Kong: Core market delivering strong post-acquisition profitability, with two new stores in
Slide 21: Capital Allocation
7: Capital Allocation Driving shareholder value; On track to triple NIAT, and grow ROIC to 20% by 2028 Growth Investments o Franchising gives us superior return on enterprise capital and hence direction (Jollibee, Mang Inasal, Yonghe King, Smashburger, Coffee Bean & Tea Leaf, Compose Coffee, Tim Ho
Slide 22: Financial Highlights
Financial Highlights
Slide 23: Summary of Q3'25 Key Metrics
Summary of Q3’25 Key Metrics SSSG Stores SWS Revenues Q3'25 Q3’25 Q3’25 +3.1% 10,304 Php115.1Bn Php76.4Bn +7.4% +16.8% +12.8% TC +0.6% AC +2.5% Opened Closed 812* 274 Gross Profit Net Operating Income NIAT Q3’25 Q3'25 Q3'25 Php14.1Bn Php5.2Bn Php3.0Bn +8.5% +7.3% +8.0% 18.4% Margin 6.8% Margin 4.0%
Slide 24: Summary of 9M'25 Key Metrics
Summary of 9M’25 Key Metrics SSSG SWS Revenues 9M'25 9M'25 +4.7% 9M'25 Php332.8Bn Php224.2Bn +18.4% TC +2.8% +14.3% AC +1.8% Gross Profit Net Operating Income NIAT 9M’25 9M'25 9M'25 Php41.9Bn Php16.0Bn Php8.7Bn +12.5% +14.6% +2.2% 18.7% Margin 7.1% Margin 3.9% Margin Note: Percentages are vs. SPLY u
Slide 25: JFC Group Metrics—Key Metrics Snapshot
JFC Group Metrics—Key Metrics Snapshot * in Php billions unless otherwise stated, margin changes are expressed in %pt change
Slide 26: Gross Profit Peer Analysis
Gross Profit Peer Analysis Leading the market in absolute gross profit growth compared to last year - underscoring operational excellence and sustained profitability G%* JFC - Global 8.5% JFC - International 22.7% McDonald's 6.1% Starbucks -9.2% Chipotle 3.3% Yum Brands 6.8% Restaurant Brands 5.3% *
Slide 27: Healthy SSSG for PH and Intl as China sustains recovery
Healthy SSSG for PH and Intl as China sustains recovery Q3'25 SSSG New G% vs. LY SWS SSSG Acquisition Forex Q2'25 Q1'25 Stores Philippines 5.5 1.2 4.3 - - China 4.2 8.0 (3.7) - (0.1) 3.9 (8.3) North America 5.8 5.3 0.6 - (0.1) NA Asian Brands 12.6 9.8 3.0 - (0.1) Smashburger (8.6) (4.7) (3.8) - (0.1
Slide 28: Resilient domestic consumer demand drives PH growth
Resilient domestic consumer demand drives PH growth 9M'25 New G% vs. LY SWS SSSG Acquisition Forex Stores Philippines 9.5 5.3 4.2 - - China (0.8) 1.2 (1.8) - (0.1) North America 2.0 2.6 (0.8) - 0.2 NA Asian Brands 9.6 7.6 1.8 - 0.2 Smashburger (12.5) (7.6) (5.1) - 0.2 EMEA PH Brands 20.0 8.0 12.1 -
Slide 29: EBITDA Mix Shifts: 60% Philippines/ 40% International
EBITDA Mix Shifts: 60% Philippines/ 40% International Q3 Q3 9M 9M in Php Bn %vs. LY % Mix %vs. LY % Mix 2025 2024 2025 2024 Philippines 6.6 5.6 17.0% 60% 19.8 18.2 8.8% 62% China, ex-THW 0.3 0.001 25765.5% N/M 3.1% 0.6 0.5 5.8% 1.8% North America 0.9 0.8 19.1% 8.2% 2.0 2.4 -16.5% 6.3% NA - Asian Bra
Slide 30: Cash Flow & Balance Sheet
Cash Flow & Balance Sheet
Slide 31: Free Cash Flow
Free Cash Flow in Php Bn Q3 2025 Q3 2024 9M 2025 9M 2024 Revenues 76.4 67.7 224.2 196.2 - - EBITDA 11.0 9.6 31.9 28.4 EBITDA Margin 14.4% 14.2% 14.2% 14.5% Income before working capital 10.8 9.1 32.2 28.1 Income before working capital 14.2% 13.4% 14.3% 14.3% Working Capital inflow / (outflow) (0.8)
Slide 32: Guidance
Guidance
Slide 33: FY2025 Guidance
FY2025 Guidance Still on track to meet FY guidance despite temporary softness in Q3 SWS Growth 8% to 12% 18.4% (ahead) RB Growth 4% to 6% 4.7% (within) Store Network Growth 754 gross opens (ahead) 700 to 800 new stores | 4% to 8% 6.7% (Organic); 5.5% vs. FY24 Capex Php18Bn to 21Bn Php10.5Bn (ahead)
Slide 34: What sets Jollibee Group apart
What sets Jollibee Group apart Sustained Growth. Shared Value. Strong Execution Leading Philippine food service company with consistent double-digit top- and bottom-line growth (4-yr view), driven by a strong local base and global expansion We reaffirm our unwavering commitment to value creation
Slide 35: Leading Filipino company achieving double-digit topline and bottomline growth
Leading Filipino company consistently achieving double-digit topline and bottomline growth SWS Revenues Store Network (absolute) 76.4 4yr CAGR: 15.1% 10,304 4yr CAGR: 22.3% 115.1 4yr CAGR: 19.7% 61.5 67.7 9,598 98.5 55.4 87.0 77.8 6,351 6,720 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4
Slide 36: Thank You!
Thank You! Jollibee Group NS
Slide 37: Annex
Annex
Slide 38: 3Q SSSG Composition
3Q SSSG Composition Same Store Sales Transaction Count Average Check Region/Brand (SSS) (TC) (AC) % Growth vs Q3 2024 Philippines 1.2% -3.5% 4.9% People's Republic of China 8.0% 26.6% -14.6% North America 5.3% 3.3% 2.0% Europe, Middle East, Asia (EMEAA) 10.7% 12.0% -1.2% Coffee Bean & Tea Leaf 4.1%