Jollibee Foods Corp. · PSE:JFC
Jollibee Foods — Q2 2025 Earnings Presentation
34 slides from Jollibee Foods's earnings presentation, 2025
Slide 1: Q2 2025 Earnings Call
Jollibee Group Q2 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 is Jollibee brand expanding and performing on the international stage?
1: How is Jollibee brand expanding and performing on the international stage? Jollibee Brand strengthens global footprint with sustained topline growth Q2'25 SWS SWS G% SSSG Store Count Store G% Philippines 39.9 13.3 7.0% 1,311 4.6 Hong Kong and Macau 0.7 11.8 10.4% 24 -- N. America 7.0 11.3 9.4% 10
Slide 5: How does Jollibee compare vs. global competitors?
1.a: How does Jollibee compare vs. global competitors? Over 1,800 stores globally Jollibee outperforms peers with superior topline growth 366 SWS G% SSSG (%) Philippines Jollibee Brands 106 Hong Kong and 24 Macau Philippines 13.3 7.0 N. America Hong Kong and Macau 11.8 10.4 1,311 EMEAA N. America 11
Slide 6: Is Jollibee gaining meaningful traction in International Markets?
1.b: Is Jollibee gaining meaningful traction in International Markets? North America Vietnam • Jollibee Chickenjoy hailed as the back-to-back #1 Jollibee Vietnam is # 1 in the market in share, Best Fast-Food Fried Chicken by USA TODAY revenue, and net income, despite being third in store • 54-month
Slide 7: Updates on Chinese Cuisine Segment?
2: Updates on Chinese Cuisine Segment? Is China’s recovery progressing meaningfully, and is the trend proving to be sustainable? • Our strategic pivot towards value positioning has delivered clear, measurable success. • China SSSG grew +4%, underpinned by robust traffic gains (+15%), with Yonghe Kin
Slide 8: Recent updates or developments on THW?
2.b: Can you share any recent updates or developments on THW? • Since managing Tim Ho Wan [January 2025], JFC has: • Organization: Assembled a leadership team and fully integrated JFC’s Shared Service Model • Brand: In just six months, JFC has brought THW back to its authentic Hong Kong roots—reigni
Slide 9: Key enablers supporting Smashburger's path to financial viability
3: What are the key enablers supporting Smashburger’s clear path to financial viability? • With new CEO Jim Sullivan and JFC’s COE backing, Smashburger is driving traffic recovery through a refocused menu while sharpening its core positioning, guest experience, and operational discipline, with Q2 si
Slide 10: Summer of Smash Highlights
3.b: Summer of Smash Highlights
Slide 11: How is Coffee and Tea Segment performing?
4: How is Coffee and Tea Segment performing? Strong EBITDA growth supported by robust topline and resilient margins Coffee and Tea represents over 52% of the Jollibee Group's global network footprint 1,261 CBTL G% vs LY + 21.5% +48.8% +58.8% +62.2% +68.8% Highlands Coffee Milksha 2,809 SWS (in Php B
Slide 12: How is Coffee and Tea Segment performing?
4: How is Coffee and Tea Segment performing? Coffee spot correction signals better margins for the Coffee and Tea segment 4.39 (Feb 13, peak) 3.20 (Aug 13) Source: Business Insider
Slide 13: Sneak Peek: Compose Coffee x BTS V Collaboration
4.a: Sneak Peek: Compose Coffee x BTS V Collaboration
Slide 14: Sneak Peek: Compose Coffee x BTS V Collaboration
4.b: Sneak Peek: Compose Coffee x BTS V Collaboration
Slide 15: Is the Philippine business demonstrating sustainable growth and profitability?
5: Is the Philippine business demonstrating sustainable growth and profitability? Q2 results highlight sustained momentum and market resilience and continued growth from a high base of 2024 Q2 Key Metrics Q2'25 Q2'24 G%vsLY Q2'23 G%vs'23 H1'25 H1'24 G%vsLY H1'23 G%vs'23 Systemwide Sales 65.1 58.5 11
Slide 16: How are tariffs influencing your US and China margins?
6: How are tariffs influencing your US and China margins? Contribution to JFC Global in terms of Expected Tariff Impact Market/Brand Remarks SWS EBITDA on Overall Costs No material impact to key Philippines 57% 70% Virtually zero; Low imports from the US (eg. Proteins, Fries) No direct imports from
Slide 17: How are you funding growth?
7: How are you funding growth? Deliberate use of debt to drive value accretive growth and safeguard liquidity during periods of volatility Refinancing of the US$396M perpetual bond (previously carried at 3.9%, pre- pandemic rate) through loans (US$96M converted to Ps floating term loan) and US$300M
Slide 18: How is ROIC progressing relative to return thresholds?
8: How is ROIC progressing relative to your return thresholds and capital allocation strategy? 10.5% 36% New Investments’ Compose ROIC Coffee’s ROIC
Slide 19: Financial Highlights
Financial Highlights oO
Slide 20: Summary of QTD Key Metrics
Summary of QTD Key Metrics SSSG Stores SWS Revenues Q2'25 Q2’25 Q2’25 +5.5% 10,119 Php114.5Bn Php77.6Bn +45.5% +19.6% +15.5% TC +2.8% AC +2.7% Opened Closed 531 178 Gross Profit Net Operating Income NIAT Q2’25 Q2'25 Q2'25 Php14.8Bn Php6.0Bn Php3.2Bn +13.1% +19.1% +5.6% 19.1% Margin 7.8% Margin 4.1%
Slide 21: Summary of YTD Key Metrics
Summary of YTD Key Metrics SSSG SWS Revenues H1'25 H1'25 +5.5% H1'25 Php217.7Bn Php147.9Bn +19.2% TC +4.0% +15.0% AC +1.5% Gross Profit Net Operating Income NIAT H1’25 H1'25 H1'25 Php27.9Bn Php10.8Bn Php5.6Bn +14.6% +18.4% -0.7% 18.8% Margin 7.3% Margin 3.8% Margin Note: Percentages are vs. SPLY unl
Slide 22: JFC Key Metrics Snapshot
JFC Key Metrics Snapshot Key P&L Metrics Q2'25 Q2'24 G%vsLY Q2'23 G%vs'23 H1'25 H1'24 G%vsLY H1'23 G%vs'23 Revenue 77.6 67.2 15.5% 60.8 27.7% 147.9 128.5 15.0% 115.9 27.6% Gross Profit 14.8 13.1 13.1% 10.9 35.6% 27.9 24.3 14.6% 20.9 33.1% Operating Profit 6.0 5.1 19.1% 4.0 51.0% 10.8 9.2 18.4% 7.6 4
Slide 23: JFC EBITDA
JFC EBITDA Q2 Q2 H1 H1 in Php Bn %vs. LY %vs. LY 2025 2024 2025 2024 Philippines 6.5 6.4 1.4% 13.2 12.5 5.2% China, ex-THW 0.3 0.3 -5.2% 0.2 0.5 -58.5% North America 0.7 0.9 -20.3% 1.1 1.7 -32.9% NA - Asian Brands 0.9 0.8 10.1% 1.7 1.5 16.1% Smashburger (0.2) 0.0 NM (0.6) 0.2 NM EMEA 0.6 0.4 47.8% 1
Slide 24: JFC QoQ Key Metrics Snapshot
JFC QoQ Key Metrics Snapshot Key P&L Metrics Q2'25 Q1'25 Q4'24 QoQ G% Q2'24 G%vsLY Revenue 77.6 70.2 73.7 10.5% 67.2 15.5% Gross Profit 14.8 13.0 14.4 13.5% 13.1 13.1% Operating Profit 6.0 4.8 2.9 25.5% 5.1 19.1% EBITDA 11.2 9.8 8.4 14.1% 9.8 13.5% Net Income 3.4 2.5 1.9 36.7% 3.2 7.2% NIAT 3.2 2.4
Slide 25: Cash Flow & Balance Sheet
Cash Flow & Balance Sheet TimHoWan ep REFS
Slide 26: Free Cash Flow
Free Cash Flow Q2 Q2 H1 H1 in Php Bn 2025 2024 2025 2024 Revenues 77.6 67.2 147.9 128.5 - - EBITDA 11.2 9.8 20.9 18.8 EBITDA Margin 14.4% 14.6% 0.0% 0.0% Adjustments: - - Marked-to-market gain (loss) on FVTPL 0.0 0.1 0.0 0.2 Foreign Exchange gain - net (0.0) (0.1) (0.1) (0.1) Underlying EBITDA 11.2
Slide 27: Financial Leverage Position
Financial Leverage Position Debt to EBITDA 4 Increase in D/EBITDA 1.4 2.1 and D/E is driven by the refinancing of equity- Q2 2024 Q2 2025 Financial Covenant accounted Perpetual (Maximum) Bond into debt- accounted Senior Bonds. Total Liabilities to Equity 4 66% debt/ 34% equity 1.7 2.5 to 90% debt/ 1
Slide 28: Fortified Balance Sheet
Fortified Balance Sheet Amounts in Php Bn (unless stated otherwise) H1'25 FY24 Cash and Cash Equivalents 27.2 29.3 and Short-term Investments 32.7 29.4 Financial Assets at FVTPL 0.2 0.2 Bank Loans 82.0 57.1 Net Debt 49.2 27.5 Working Capital Metrics (in days) Average Collection Period 12 13 Inventor
Slide 29: Guidance
Guidance (ex THE COFFEE BEAN “CY & TEA LEAF
Slide 30: FY2025 Guidance
FY2025 Guidance H1 2025 results point to sustained momentum from Q1 SWS Growth 8% to 12% 19.6% (significantly ahead) RB Growth 4% to 6% 5.5% (well within) Store Network Growth 473 gross opens (significantly ahead) 700 to 800 new stores | 4% to 8% 45.5% (significantly ahead) Capex Php18Bn to 21Bn Php
Slide 31: Key Takeaways
Key Takeaways ✓ Jollibee Foods Corporation (JFC) is a successful brandfolio company that has scaled and grown both organically with Jollibee and through acquisitions ✓ JFC is positioned well for growth and to mitigate over dependency risks through category and geography diversification with our 4 st
Slide 32: Key Takeaways
Key Takeaways ✓ We are intentionally leveraging debt to continue rapid scaling of high-return investments • Disciplined capex and strategic capital allocation: Return-based approach to capex deployment reinforces that we’re prioritizing capital efficiency alongside sustainable, profitable topline gr
Slide 33: Track record of outperformance reinforces conviction in 2028 targets
Our strong track record of outperformance, despite market volatility, reinforces our conviction in our 2028 targets Store Network (absolute) SWS Revenues CAGR*: 17.1% 10,117 CAGR*: 16.1% 114.5 CAGR*: 14.3% 77.6 95.8 67.2 6,956 85.5 60.8 6,297 6,617 73.1 52.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 34: Our Brands
Our Global Icons Our Brands Multi-Country Favorites Beloved Local Brands Franchised Brands Group Foundation