The Jollibee Group has continued its impressive growth trajectory into the first quarter of 2025, fueled by a record-setting 2024 that saw the company achieve its highest-ever Net Income and System-wide Sales (SWS).
During the Annual Stockholders’ Meeting, Global President and CEO Ernesto Tanmantiong announced a robust start to the year: revenues climbed 14.6%, SWS rose by 18.9%, and operating income jumped 17.6% year-on-year. Both domestic and international operations contributed to the gains, with the Philippines growing 11.9% and overseas markets surging 29.5%.
Record-breaking 2024 sets the stage
Jollibee Group capped off 2024 with exceptional numbers. Net income attributable to equity holders surpassed P10 billion for the first time, landing at P10.3 billion. Meanwhile, SWS reached P390.3 billion, up 13% from the previous year. The growth was propelled by strong same-store sales—7.5% in the Philippines and 2.8% abroad.
“Our bold dreams have always guided us,” said Tanmantiong. “Every milestone brings us closer to our 2028 vision: tripling net income after tax, achieving a 20% Return on Invested Capital, and becoming one of the world’s Top 5 restaurant companies.”
Operational excellence and strategic expansion
Operating profit reached P16.9 billion in 2024, with margins showing healthy improvements. The company opened 674 new stores worldwide, 536 of which were outside the Philippines—expanding its global footprint to over 9,700 locations. Franchisees now operate 69% of Jollibee Group stores, a testament to its scalable business model.
The coffee and tea category experienced significant growth, particularly following the acquisition of Korea’s Compose Coffee. That segment now operates more than 5,000 stores globally and posted a 37% SWS increase, with Compose contributing 22.6%.
Looking ahead: 2025 and beyond
Jollibee Group plans to open 700 to 800 new stores in 2025, supported by Php18–21 billion in capital expenditures. It forecasts 8–12% growth in SWS, with targets of 4–6% same-store sales growth and 4–8% footprint expansion.
The company also reaffirmed its purpose—Spreading joy through superior taste—by deepening brand alignment across global markets and advancing its sustainability agenda. Highlights include a 44% reduction in waste per metric ton at its commissaries and a mangrove planting initiative that saw 21,500 propagules introduced through volunteer efforts.
Recognized for its positive workplace culture, Jollibee Group earned its third Gallup Exceptional Workplace Award and was once again listed among TIME’s Best Companies. Its social impact efforts also gained traction, with the Farmer Entrepreneurship Program earning multiple regional awards.
“As we look to the future, we remain focused on our goals, driven by our purpose, and inspired by the communities we serve,” Tanmantiong concluded.