Jollibee Foods (JFC) Q2 2025 earnings summary

Executive summary

• Achieved strong double-digit system-wide sales and revenue growth in Q2 2025, with international markets and core brands driving performance.

• Store network expanded to over 10,100 stores globally, with 473 new stores opened and 178 closures in 1H 2025.

• International business contributed a record 42% of total EBITDA and saw system-wide sales up 31.1% in 1H 2025.

• Maintained robust growth in the Philippines, North America, Vietnam, China, and coffee/tea segments.

• Net income for 1H 2025 was ₱5.91B, up 0.4% year-over-year.

Financial highlights

• Q2 2025 system-wide sales reached ₱114.5B (+19.6% YoY), revenue at ₱77.6B (+15.5% YoY), and net income at ₱3.4B (+7.2% YoY).

• H1 2025 system-wide sales at ₱217.7B (+19.2% YoY), revenue at ₱147.9B (+15.0% YoY), and net income at ₱5.91B (+0.4% YoY).

• Gross profit for Q2 2025 increased 13.1% to ₱14.8B, with gross margin at 19.1%.

• EBITDA for 1H 2025 was ₱20.93B, up 11.5% year-over-year.

• Free cash flow margin at 10.3% before lease payments, 6.6% after.

Outlook and guidance

• Confident in meeting or exceeding high end of full-year guidance for sales and operating income.

• FY2025 guidance targets 8–12% system-wide sales growth, 4–6% revenue growth, 700–800 new store openings, and 10–15% operating income growth.

• Capex planned at ₱18–21B for the year, focused on new stores, renovations, manufacturing, and technology.

• Expect stronger profitability in the second half due to moderate price increases and easing input costs.

• Aggressive store expansion continues, especially for Compose Coffee, targeting close to 3,000 stores by year-end.