Spreading Joy Through Superior Taste
2024 ANNUAL REPORT
Forward Together: Jollibee Group's evolved corporate brand
As we look to the future, we recognized the need for a corporate identity that reflects both our proud heritage and bold aspirations. To fulfill this, we've chosen the name Jollibee Group-a name that honors our beginnings and at the same time embraces all that we've become and what we're striving for.
For 47 years, we aimed to bring joy through delicious food and heartfelt service. From a single brand, we've grown into a diverse food and beverage organization with 19 brands across the globe. This corporate name now reflects this journey-an evolution rooted in joy and guided by purpose.
To give our corporate brand its own identity, distinct from our well-loved consumer brands, we introduced the JoyMark-a stylized "J" that stands for movement, momentum, and unity.
Tilted at 8 degrees, it nods to our founding year 1978 and symbolizes the energy and progress that define the Jollibee Group today.
Over the years, through many challenges and changes, one thing remains the same: why we do what we do. Our purpose- Spreading joy through superior taste-guides every decision, every innovation, and every experience we create. It unites our people and fuels our continued passion not only to satisfy but also delight our consumers.
With this evolved identity, we reaffirm our commitment to excellence, innovation, and bringing joy to more people, in more ways, around the world. Because at Jollibee Group, true success is the result of living out our purpose. And that's what will carry us forward, one joyful bite and one joyful sip at a time.
TABLE OF CONTENTS
About the New Corporate Brand
Table of Contents
Chairman's Message
LEADERSHIP
HIGHLIGHTS
BUSINESS
JOLLIBEE GROUP FOUNDATION FINANCIAL STATEMENTS
COMPANY INFORMATION
Chairman's Message / CEO's Message / Directors and Corporate Officers
CHAIRMAN'S MESSAGE
Building a Legacy of Joy
JOLLIBEE GROUP 2024 ANNUAL REPORT
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LEADERSHIP
HIGHLIGHTS
BUSINESS
JOLLIBEE GROUP FOUNDATION
FINANCIAL STATEMENTS
COMPANY INFORMATION
Chairman's Message / CEO's Message / Directors and Corporate Officers
Dear Shareholders,
Reflecting on 2024, I am filled with immense gratitude and pride for our achievements and the dedication of our teams worldwide. This third consecutive record year has been a memorable chapter, driven by resilience, innovation, and our unwavering commitment to spreading joy to communities around the world.
On behalf of the Board of Directors, I extend my heartfelt gratitude to our Global President and CEO, Ernesto Tanmantiong, the Leadership Team, and to every employee who has helped bring us closer to our aspirations.
Raising the Bar in 2024
In 2024, we raised the bar once again. Our system-wide sales (SWS) grew by an impressive 13.0%, reaching Php390.3 billion, while our consolidated
revenues rose by 10.6%, totaling Php269.9 billion. What makes me proud is that these numbers aren't just the result of solid business decisions-they reflect the trust and loyalty we've built with our consumers, and the hard work of everyone involved in our journey.
We also reached a historic milestone with our Net Income Attributable to Equity Holders of the Parent Company, which soared to Php10.3 billion, a 17.7% increase. This achievement highlights our commitment to creating value for all stakeholders and underscores our financial discipline, which enables us to invest in sustainable growth and innovation.
Our brands-Jollibee, Chowking, and Mang Inasal-were recognized by Brand Finance as three of the Most Valuable Restaurant Brands in the ASEAN 500 2024 Report, and Jollibee ranked second Fastest-Growing Restaurant Brand and 5th Strongest Brand in the World-the only ASEAN and Philippine brand to make the list. Jollibee's Chickenjoy was also recognized as the best among the best fried chicken by USA TODAY in 2024. In the same year, we opened our 200th store in Vietnam, our largest international market outside the Philippines, which is 100.0% patronized by Vietnamese locals. These milestones speak to our enduring cultural relevance and deep connections with communities across the globe.
In August 2024, the Jollibee Group acquired a 70.0% stake in Compose Coffee, South Korea's fastest-growing coffee franchise with over 2,400 franchised stores. Supported
by Korea's largest in-house roasting facility, Compose Coffee delivers high-quality beans at scale. This investment strengthens our position in Coffee and Tea and marks our entry into South Korea, the world's third largest in per capita coffee consumption.
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JOLLIBEE GROUP 2024 ANNUAL REPORT
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