Jollibee Group Sets Roadmap To Triple Business In Five Years

Jollibee Group, recognized as one of the largest food service companies in the world, has set the roadmap to triple its business in the next five years, driven by its sustained remarkable performance over the past periods.

The flagship brand Jollibee, which has over 1,600 stores globally and accounts for 49% of Jollibee Group’s SWS, significantly grew by 18.5% that year. I Photo: Jollibee Facebook

In its disclosure to the Philippine Stock Exchange (PSE), the company reported achieving in 2023 an all-time high total revenue of PHP 244.1 billion and a new record operating profit of PHP 14.4 billion, marked by a 45.0% increase compared to the full year 2022.

Jollibee Group’s full-year system-wide sales (SWS) for 2023 grew by 16.3% to PHP 345.3 billion, on the back of a 10.6% growth in same-store sales (SSS) and 5.4% from new stores.

The company opened 658 stores during the year, further beefing up its store network by 6.3% to 6,885 stores at year-end 2023. The flagship brand Jollibee, which has over 1,600 stores globally and accounts for 49% of Jollibee Group’s SWS, significantly grew by 18.5% that year.

SWS already grew by 10.4% to PHP 86.8 billion in the first quarter of 2024, with both the Philippine and international markets delivering growth in double digits.

Ernesto Tanmantiong, President and CEO of Jollibee Group, emphasized that all these achievements would not have been possible without the people who share the company’s vision of becoming one of the top 5 restaurant companies in the world.

He highlighted that the company started 2024 with a strong performance aligned with its bold strategic roadmap for the next five years.

“In five years, we aim to triple Jollibee Group’s value in terms of net income attributable to equity holders of the Parent Company. With our portfolio of strong, valuable brands, the support of our global team, and our consistent efforts to drive long-term growth, we are confident in our ability to deliver on this goal,” Tanmantiong shared.

He revealed that the Jollibee Group will continue to execute its growth strategy, which includes scaling the business in four key areas: (1) expanding the Jollibee brand internationally; (2) growing its coffee and tea business; (3) exponentially growing in China; and (4) sustaining robust growth and market leadership in the Philippines.

Tanmantiong proudly reported that Jollibee has been recognized as the second fastest-growing restaurant brand in the world, according to the latest annual brand ranking report by Brand Finance.

Jollibee ascended from rank 20 to rank 17 in this year’s Global Restaurant Rankings, driven by an impressive 51% increase to USD 2.3 billion in brand value.

The brand achieved fifth place in the strongest restaurant brand category, elevating its rating from AA- to AAA, he pointed out. Jollibee, he added, is the only Philippine brand listed in the 2024 Top 25 Most Valuable Restaurant Brands and Top 10 Strongest Restaurant Brands.