Jollibee Foods Corp. · PSE:JFC
Jollibee Foods — Q1 2025 Earnings Presentation
28 slides from Jollibee Foods's earnings presentation, May 13, 2025
Slide 1: Q1 2025 Earnings Call Presentation
Q1 2025 Earnings Call Presentation 13 May 2025
Slide 2: Reminder to Participants of Jollibee Group's Investor/Analyst Briefing
Reminder to Participants of Jollibee Group’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 those cont
Slide 3: Investors' Focus Points
Investors’ Focus Points Jollibee Group Me
Slide 4: How are tariffs shaping your cost outlook in US and China?
1: How are tariffs shaping your cost outlook in US and China? Contribution to JFC Global Expected Tariff Market/Brand Remarks SWS EBITDA Impact on Costs Virtually zero; No reciprocal tariffs for PHL Philippines 57% 70% Low imports Virtually zero; No direct imports from US; ~100% China 5% <1% Low dom
Slide 5: What are the early wins for Tim Ho Wan?
2: What are the early wins for Tim Ho Wan? Q1’25 System Wide Sales of SGD43.5M with 77 outlets across 11 Markets • Hongkong: Strong Q1 Sales in Hong Kong (home market) with ADS of SGD14K. Newly opened store in Shatin has been ahead of expectations and tracking to less than 3 years payback • Singapor
Slide 6: What exciting developments can you share about Jollibee's global expansion?
3: What exciting developments can you share about Jollibee’s global expansion? Jollibee strengthens global footprint with sustained topline growth Q1'25 SWS SWS G% SSSG Stores Store G% Philippines 36.3 13.3% 8.6% 1,293 3.9% Hong Kong & Macau 0.7 12.9% 12.6% 24 -- N. America 6.4 10.9% 6.4% 104 4.0% V
Slide 7: How does Jollibee compare vs. global competitors?
3: How does Jollibee compare vs. global competitors? Store Count SWS G% SSSG (%) 144 Jollibee Brands 214 PH PH 13.3 8.6 104 HK/MO 24 HK/MO 12.9 11.6 N. America 1,293 VN N. America 10.9 6.4 Rest of EMEAA VN 34.0 14.2 Rest of EMEAA 15.3 2.3 Multi-brand Peers Yum Brands 3.0 5.0 SWS G% Yum China 0.0 2.0
Slide 8: Jollibee, #17 strongest global restaurant brand
3: Jollibee, #17 strongest global restaurant brand Jollibee sole Philippine and ASEAN restaurant brand featured in Restaurants 25 2025 by Brand Finance “Jollibee (brand value up 8% to USD2.5 billion), ranked 17th globally, has made an impressive mark by maintaining its presence in the global ranking
Slide 9: JB North America Stores registering strong momentum in April
3: JB North America Stores registering strong momentum in April • $13,534 ADS • ADTC +5.9%, AC+5.6% • 60 of 70 (86%) stores grew ADS vs LY • $11,273 ADS • ADTC +6.5%, AC+2.6% • 22 of 27 (81%) stores grew ADS vs LY
Slide 10: Successful Launch of Jollibee Loyalty Program
3: Successful Launch of Jollibee Loyalty Program 500k signed up members since launch in Sept 2024 00 00 0000
Slide 11: Chef Joshua Weissman gives Jollibee his stamp of approval
3: Chef Joshua Weissman gives Jollibee his stamp of approval Celebrity Chef Joshua Weissman, with over 10million social media followers, raves about Jollibee Chickenjoy, Chicken Sandwich and Chicken Tenders, citing exceptional taste and quality 00 00 0000
Slide 12: What levers are in place to deliver China's recovery?
4: What levers are in place to deliver China's recovery? • Strengthened brand positioning by elevating Yonghe King's image as the "Soybean Expert“ with new signature dishes such as Tofu Pudding Hotpot, Mapo Tofu, Kale Soy Milk Tea and Curry Chicken Thigh Rice • “Super value” store model (revamped st
Slide 13: How's Smashburger performing post recent management changes?
5: How’s Smashburger performing post recent management changes? • Renewed energy and focus from both employees and franchise partners • A&P spend refocused to drive profitable traffic, along with relevant menu (ie: family- focused, craveable classics) • $5+$5 Menu Pilot launched mid-March across 15
Slide 14: How well are you defending your leadership position in the Philippines?
6: How well are you defending your leadership position in the Philippines? Key P&L Metrics Q1'25 Q1'24 G%vsLY Q1'23 G%vs'23 Revenue 40.9 37.1 10.3% 33.8 20.9% Gross Profit 7.9 6.9 15.0% 6.2 27.2% Operating Profit 4.1 3.7 12.0% 3.1 30.9% EBITDA 6.6 6.1 9.2% 5.1 30.5% Net Income 3.0 2.9 4.1% 2.2 36.2%
Slide 15: Coffee and Tea Segment Updates
7: Coffee and Tea Segment Updates Strong EBITDA growth supported by robust topline and resilient margins SWS Store Network is >50% of G% vs +58.8% Jollibee Group stores LY +13.7% +21.5% +48.8% +62.2% 6.7 6.1 4.0 1,246 1.4 1.4 1.4 1.4 1.4 2.3 2.4 2.6 CBTL 2.2 2.4 Highlands Coffee 8.9 10.1 9.9 10.2 10
Slide 16: Financial Highlights
Financial Highlights Jollibee Group Me
Slide 17: Summary of Q1 2025 Key Metrics
Summary of Q1 2025 Key Metrics SSSG Stores SWS Revenues Q1’25 Q1’25 Q1’25 +5.5% 9,935 Php103.2Bn Php70.2Bn +44.3% +18.9% +14.6% TC +3.9% AC +1.5% Opened Closed 205 94 Gross Profit Net Operating Income NIAT Q1’25 Q1’25 Q1’25 Php13.0Bn Php4.8Bn Php2.4Bn +16.3% +17.6% -8.1% 18.6% Margin 6.8% Margin 3.4
Slide 18: JFC Group Metrics—Key Metrics Snapshot
JFC Group Metrics—Key Metrics Snapshot Key P&L Metrics Q1'25 Q1'24 G%vsLY Q1'23 G%vs'23 Revenue 70.2 61.3 14.6% 55.1 27.5% Gross Profit 13.0 11.2 16.3% 10.0 30.3% Operating Profit 4.8 4.1 17.6% 3.6 33.7% EBITDA 9.8 8.9 9.2% 7.6 28.8% Net Income 2.5 2.7 -7.6% 2.2 14.0% NIAT 2.4 2.6 -8.1% 2.1 16.6% Ot
Slide 19: Jollibee Group EBITDA
Jollibee Group EBITDA Q1 Q1 G% Q4 G% in Php Bn 2025 2024 vs. LY 2024 vs. Q4 Philippines 6.6 6.1 9.2% 5.8 13.8% China, ex-THW (0.0) 0.3 -113.9% 0.5 -106.7% North America 0.4 0.8 -47.1% 0.2 140.8% NA - Asian Brands 0.8 0.6 24.1% 0.6 38.4% Smashburger (0.4) 0.1 -358.4% (0.4) 5.8% EMEA 0.5 0.4 19.1% 0.4
Slide 20: JFC Group Metrics—QoQ Key Metrics Snapshot
JFC Group Metrics—QoQ Key Metrics Snapshot Key P&L Metrics Q1'25 Q4'24 G%vsLY Revenue 70.2 73.7 -4.7% Gross Profit 13.0 14.4 -9.6% Operating Profit 4.8 2.9 64.7% EBITDA 9.8 8.4 17.0% Net Income 2.5 1.9 30.1% NIAT 2.4 1.9 30.0% Other KPIs Q1'25 Q4'24 G%vsLY Systemwide Sales 103.2 109.2 -5.5% SSSG 5.7
Slide 21: Cash Flows and Balance Sheet
Cash Flows and Balance Sheet Jollibee Group Me
Slide 22: Free Cash Flow
Free Cash Flow Seasonality led to temporary softening of FCF - same pattern as LY Q1 Q1 Ex-Compose in Php Bn 2025 2024 Q1 2025 Revenues 70.2 61.3 67.1 EBITDA 9.8 8.9 9.1 EBITDA Margin 13.9% 14.6% 13.6% Adjustments: Marked-to-market gain (loss) on FVTPL 0.0 0.1 0.0 Foreign Exchange gain - net (0.0) (
Slide 23: Balance Sheet
Balance Sheet Amounts in Php Bn (unless stated otherwise) Q1'25 FY24 Cash and Cash Equivalents 27.2 29.3 and Short-term Investments 27.7 29.4 Financial Assets at FVTPL 0.2 0.2 Bank Loans 81.2 57.1 Net Debt 53.3 27.5 Working Capital Metrics (in days) Average Collection Period 13 13 Inventory Days 40
Slide 24: Financial Leverage Position
Financial Leverage Position Debt to EBITDA 4 1.5 2.2 Q1 2024 Q1 2025 Financial Covenant Increase in D/EBITDA (Maximum) and D/E is driven by the refinancing of equity- Total Liabilities to accounted Perpetual Equity 4 Bond into debt- 1.7 2.5 accounted Senior Bonds. Q1 2024 Q1 2025 Financial Covenant
Slide 25: Guidance
Guidance Jollibee Group Me
Slide 26: Q1'25 vs FY2025 Guidance
Q1’25 vs FY2025 Guidance Upbeat start to the year, hitting the guidance across key sales & profitability measures SWS Growth 18.9% 8% to 12% RB Growth 5.5% 4% to 6% Store Network Growth 205 gross opens 700 to 800 new stores | 4% to 8% 4.2% (Organic); 1.7% vs. FY24 Capex Php2.5Bn Php18Bn to 21Bn Oper
Slide 27: Thank you
Jollibee Group We Thank you
Slide 28: Q1 2025 Earnings Call Presentation
Q1 2025 Earnings Call Presentation 13 May 2025