Jollibee Foods (JFC) Q1 2025 earnings summary

Executive summary

• Delivered double-digit system-wide sales and revenue growth in Q1 2025, with strong performance across core brands and geographies.

• Achieved 14.6% revenue growth and 17.6% increase in operating income year-over-year for Q1 2025.

• System-wide sales rose 18.9%, with Philippine business up 11.9% and international up 29.5%.

• International growth driven by Compose Coffee acquisition and full ownership of Tim Ho Wan.

• Management remains focused on operational efficiency, margin protection, and quality growth from existing and new stores.

Financial highlights

• System-wide sales reached Php103.2B, up 18.9% year-over-year; revenues at Php70.2B, up 14.6%.

• Operating income rose to Php4.8B (+17.6%); EBITDA at Php9.8B (+9.2%).

• Gross profit margin hit a record Q1 high of 18.6%, expanding by 30 bps.

• Net income attributable to equity holders fell 8.1% to Php2.4B due to higher below-the-line items.

• SSSG: Philippines +8.5%, international +0.7%; China and Smashburger saw SSSG declines.

Outlook and guidance

• System-wide sales guidance for 2025 is 8%-12%; Q1 delivered 19%.

• Management expects continued strong operational performance and reaffirms full-year guidance.

• Rolling base guidance of 4%-6%, with Q1 at 5.5%.

• Store growth on track at 4.2% (organic, excluding Compose).

• Management confident in achieving or exceeding 15% net profit growth for FY25.