13 May 2025
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 contemplated in the relevant forward-looking statement and the Jollibee Group gives no assurance that such forward-looking statements will prove to be correct or that such intentions will not change.
All subsequent written and oral forward-looking statements attributable to the Jollibee Group or persons acting on behalf of the Jollibee Group are expressly qualified in their entirety by the above cautionary statements.
Investors' Focus Points
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 | ||||
Philippines | 57% | 70% | Virtually zero; Low | No reciprocal tariffs for PHL imports |
China | 5% | <1% | Virtually zero; Low | No direct imports from US; ~100% domestic sourcing |
Vietnam | 2% | 3% | ~0.3%; Low | Mostly forex impact of USD-bought imports |
Jollibee NA | 7% | 8% | <1%; Low | Primarily driven by packaging costs; consumer impact deferred by maintaining inventory through FY25 |
Smashburger | 3% | <1% | ~0.1%; Low | ~100% domestic sourcing |
CBTL Global | 10% | 7% | <2%; Low | Mostly from coffee, packaging and merchandise: Cost impact partially absorbed by packaging vendors |
This slide has been updated to reflect the most recent data as of May 02, 2025. 00 00 0000
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
Singapore: Revamped menu in flagship store in Marina Bay Sands to be dimsum-centric combined with introduction of new range of dishes, beverages and desserts at affordable pricing. Results: TC +11%, ADS +7%, Google review went up from 3.7 to 4.3
China: Pilot new store model in Shanghai with new and improved menu, refreshed store look and more affordable pricing. Results: TC +34%, ADS +24%, 97% positive reviews
Philippines, Macau, Taiwan: Reengaged with Franchise Partners via quarterly connects to establish global standards and realign with our way forward; In active discussions on how to grow the brand within these markets
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