Jollibee Group bounces back in Q2

MANILA, Philippines — Asian food conglomerate Jollibee Foods Corp. bounced back in the second quarter behind record-high system-wide sales, allowing the group to finish the first half with an almost flat earnings.

The Jollibee Group saw its net income attributable to equity holders of the parent company increase by 5.6 percent in the second quarter to P3.2 billion, reversing the decline seen in the first quarter.

System-wide sales from April to June  reached a record-high of P114.5 billion, a 19.6-percent surge year-on-year.

For the first half, the group’s attributable net income declined slightly by 0.7 percent to P5.62 billion from P5.66 billion in the same period in 2024.

“The Jollibee Group delivered strong financial results for the second quarter, with both revenue and profit growth accelerating compared to the first quarter — reflecting our continued business momentum and improved operational execution,” Jollibee Group chief executive officer Ernesto Tanmantiong said.

Consolidated revenues for the second quarter expanded by 15.5 percent to P77.63 billion, driving a 19.1-percent growth in operating income.

“This operating income growth highlights the strength of our coffee and tea segment and sustained contributions of our Philippine business and Jollibee International, underscoring the effectiveness of our multi-brand and multi-market strategy,” Tanmantiong said.

Jollibee Group chief financial and risk officer Richard Shin said that Jollibee International is delivering strong growth despite softness in the broader US market.

He said  the coffee and tea segment, one of the group’s fastest-growing segments, continues its upward trajectory, with expansion across key geographies driving incremental revenue and margin enhancement.

Further, Shin said that China is showing early signs of recovery, marking a potential turnaround in performance.

“Our strong operating results this quarter reflect not only the positive impact of our strategic acquisition but also the underlying resilience of our business. Disciplined execution of both our cost optimization initiatives and portfolio innovation efforts helped stimulate growth and profitability,” he said.

As of end-June, the Jollibee Group’s store network increased by 45.5 percent to 10,119 compared to a year ago.

Its network is composed of 3,424 stores in the Philippines and 6,695 branches abroad.

Shin said  the group’s strategic shift toward franchising, combined with disciplined capital allocation, is enhancing asset efficiency and return on invested capital.

He said that 69 percent of its stores operate under a franchised model, reflecting its ongoing transition to a more capital-light structure.