Fourth quarter SWS reach Php122.3 billion, up ~12% year-on-year, with broad-based demand across Philippines and International markets
Metro Manila, Philippines, February 13, 2026 – Jollibee Foods Corporation (PSE: JFC) – Preliminary, unaudited results for the fourth quarter ended December 31, 2025 are summarized below.
Jollibee Foods Corporation (“JFC”, or the “Company”) today announced preliminary operational and non-statutory results for the fourth quarter and full year 2025, highlighting record systemwide sales (SWS), sustained demand momentum, and the highest level of gross store openings in the Company’s history. These figures are based on management accounts and unaudited internal data; audited financial results for 2025 are forthcoming and subject to finalization.
SWS Reach New All-time High on Strong Global Demand
SWS, which represent total consumer sales across both company-owned and franchised stores, rose approximately 12.0% in Q4 2025 versus the same quarter last year – the strongest fourth-quarter performance on record – lifting quarterly SWS to a new all-time high of Php122.3 billion, reflecting sustained consumer demand and continued brand momentum across markets.
The Philippine business delivered a 9.7% increase in SWS for the quarter, led by strong growth from Jollibee (+9.8%), Mang Inasal (+20.5%) and Chowking (+5.4%), underscoring the resilience and breadth of the domestic portfolio.
The International segment recorded a 15.4% uplift, driven by exceptional growth from EMEAA PH brands (+27.7%), Compose Coffee (+24.2%), Highlands Coffee (+23.1%), and Jollibee NA (+18.7%), highlighting accelerating global traction and disciplined execution across priority markets.
For full year 2025, SWS rose by 16.6% year-on-year, exceeding the Company’s previously communicated growth framework, reinforcing the strength and scalability of the JFC’s portfolio.
SSSG Signals Improving Demand Quality Across Markets
Same store sales growth (SSSG) for the Philippine business reached a solid 5.0% in Q4. International SSSG remained healthy at 5.5%, with all regions delivering positive contributions, led by EMEAA (+11.9%) and Jollibee NA (+12.6%), while China recorded a steady +5.0%, underscoring improving trends across key markets.
Within the international portfolio, Highlands Coffee delivered a robust +13.6% SSSG in Q4, reinforcing its strong brand momentum, while Milksha posted a healthy 7.4%, signaling consistent underlying demand. The Coffee Bean & Tea Leaf (CBTL) registered a positive SSSG as well, maintaining growth despite a high base.
Brand Momentum Highlights
• Jollibee once again demonstrated its enduring strength and market leadership in the Philippines, reinforcing its position as a cornerstone brand within the portfolio. Backed by a robust network of over 1,300 stores nationwide, the brand delivered high single-digit SWS growth alongside healthy mid-single-digit SSSG, evidencing sustained consumer loyalty and consistent store-level execution.
Jollibee remains a primary anchor of the Philippine business, contributing approximately 62% to the domestic SWS and accounting for over one-third of JFC’s SWS, a clear testament to its scale, brand equity, and outsized impact on overall performance.
• Mang Inasal continued to stand out as one of the key growth drivers in the Philippines, delivering the strongest performance among all domestic brands in both SWS growth and SSSG in 2025. The brand’s momentum reflects sustained consumer relevance, effective value positioning, and disciplined execution, and the highest franchise penetration among JFC’s Philippine portfolio, reinforcing the scalability and resilience of its operating model.
Mang Inasal remains solidly profitable, supported by healthy unit economics and consistent operating efficiencies. Its 98% franchised network further highlights the strength of its franchise platform, enabling capital-efficient expansion.
• Yonghe King delivered a record December with 32 franchised store openings during the month, reflecting a materially improving operating backdrop and increased management conviction in the China market. Importantly, these 32 openings were deployed under the brand’s high‑return, fast‑payback Super Value format, reinforcing the scalability, capital efficiency, and transportability of its
franchise‑led growth engine. This, coupled with the sharp improvement in store payback to under two years, reinforces the long-term potential of this market and the successful strategy execution.
• Highlands Coffee has evolved into a potential billion-dollar brand with its market leadership as the undisputed #1 coffee chain in Vietnam, reflected in its expanding footprint from just 56 stores at the time of JFC’s 50% acquisition for USD25 million in 2012 to nearly 1,000 stores today. The brand remains one of the Company’s most scalable and proven coffee brands. Highlands Coffee represents one of the most compelling growth and M&A stories in the Company’s portfolio.
Beyond its physical expansion, Highlands Coffee has steadily increased its contribution to the Company, doubling its SWS share over the period and supporting JFC’s broader growth.
• Jollibee North America continued to strengthen its digital and store-level performance, with its loyalty app surpassing 1 million registered users, SWS breaching USD 500 million, and organic average daily sales reaching approximately USD 15,000 per store, demonstrating growing customer engagement and operating momentum.
• Tim Ho Wan continued to reinforce its position as one of JFC’s strategic growth pillars. Following the brand’s transition to full ownership in January 2025, SWS for Tim Ho Wan expanded more than sixfold, rising from approximately Php1.3 billion in 2024, when results reflected China operations only, to around Php8.1 billion in 2025, with the inclusion of global operations, underscoring Tim Ho Wan’s accelerating scale and strengthening contribution to the Company.
Growth momentum was broad-based across both company-operated and franchise markets. Company-operated territories such as Hong Kong, Singapore, and China showed improving trends in the second half, while franchise markets including the Philippines, Vietnam, and Japan also gained momentum, reflecting strengthening brand equity and execution consistency.
Importantly, the opening of the first company-operated North America store in Irvine, California, marked a major milestone, further expanding the brand’s international footprint and signaling continued confidence in its long-term global growth trajectory.
Record Network Expansion Underscores Scalable Global Growth Platform
JFC’s total store network grew by 5.9% to 10,341 outlets at year-end 2025, marking the highest level of gross store openings in JFC’s history and demonstrating the sustained pace of network expansion across key markets. The footprint comprised 3,504 in the Philippines and 6,837 internationally, indicating continued confidence in both domestic and global growth opportunities.
The international store base includes 576 locations in China, 348 in North America, and 437 across EMEAA, alongside strong brand-led expansion with 985 Highlands Coffee outlets (primarily in Vietnam), 1,079 CBTL stores, 357 Milksha outlets, 2,972
Compose Coffee locations, and 83 Tim Ho Wan branches. This highlights JFC’s disciplined site selection, franchise partnerships, and scalable brand platforms that continue to drive sustained global presence and long-term growth momentum.
Strong Core Performance Reflects Operational Momentum and Execution Discipline
Preliminary results show that earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by mid-teens in Q4 – reflecting strong operating discipline, improving efficiencies, and sustained business momentum across key markets. Net operating income (NOI) for the quarter likewise delivered robust growth, exceeding guidance, affirming the quality of earnings and continued margin resilience alongside topline expansion.
These figures are based on management’s preliminary review and internal accounts and therefore remain subject to change pending completion of the 2025 audit process. JFC will provide a comprehensive update upon the release of its audited full-year results.
Management Commentary
Richard Shin, Chief Financial and Risk Officer of the Company, and Chief Executive Officer of Jollibee Group International Business, gave the following statement:
“Our preliminary fourth‑quarter results reflect a clear acceleration in topline momentum, with SWS reaching a new all‑time high alongside the highest level of gross store openings in the Company’s history. This performance underscores broad‑based demand across both our Philippines and International businesses, the strength of our brandfolio, and the scalability of our growth platforms.
As we close the year, we remain focused on sustaining demand momentum while continuing to expand our global footprint in a disciplined and measured manner.”
Preliminary Nature of Information
This announcement contains preliminary, high-level, and non-statutory information only. JFC’s audit for the full year 2025 is currently ongoing. Full financial results and guidance shall be released by March 2026.
