Jollibee Foods (JFC) Q2 2025 earnings summary

Executive summary

• Achieved strong double-digit system-wide sales growth of 19.6% and revenue growth of 15.5% year-over-year for Q2 2025, with gross profit up 13.1% and NOI margin at 7.8%.

• International business contributed a record 42% of total EBITDA, with system-wide sales up 31.1% and robust expansion in coffee/tea brands.

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

• Maintained resilience and profitability in the Philippine business, with double-digit growth and sustained momentum from a high 2024 base.

• Strategic focus on asset-light, franchise-driven models and deliberate use of debt to fund high-return investments.

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 margin at 19.1%, operating margin at 7.8%, and EBITDA margin at 14.4% for Q2 2025.

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

• Earnings per share (basic) for 1H 2025 was ₱4.86, down 0.2% year-over-year.

Outlook and guidance

• 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, supported by moderate price increases and easing input costs.

• Confident in delivering 2028 target of tripling NIAT, driven by continued international expansion and franchise growth.