Jollibee net profit slips 13.3% in H1
Quarter-on-quarter profits grew 130.5%.
Jollibee Food Corporation reported a net income attributable to equity holders of the parent company (NIAT) of $78m (P4.8b) in H1 2026, a decrease of 13.3% compared to the same period last year, according to its latest bourse filing.
System-wide sales grew 12.4%, whilst revenues grew 9.9% in the half-year. However, operating income went down 7.1% whilst earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed 1.6%.
The group, however, reported a much better performance than last quarter, with NIAT increasing by 130.5%. Consolidated revenues increased by 12.2% versus Q1 2026, supporting a 25.3% increase in gross profit and a 56.1% increase in operating income.
Reported profitability for the quarter was affected by $3.9m (P239m) in transition-related costs, covering store closure and lease termination costs associated with the ongoing turnaround of Yonghe King and Smashburger toward predominantly franchised business models. Jollibee said that these costs are aligned with its efforts to strengthen the long-term quality, scalability, and profitability of its portfolio.
Jollibee increased its global store network by 6.4% year-on-year to 10,767 stores. This reflected 461 gross new store openings and the addition of 172 stores from the acquisition of Shabu All Day, partly offset by 207 store closures during the first half.
Of the gross new store openings, 323 stores, or approximately 70%, were franchised, keeping the Group’s franchised ratio at 70%. The total store network comprised 3,516 stores in the Philippines and 7,251 stores internationally, including 602 in China, 340 in North America, 455 in EMEAA, 1,062 under Highlands Coffee mainly in Vietnam, 1,097 under CBTL, 358 under Milksha, 3,098 under Compose Coffee, 156 under Shabu All Day, and 83 under Tim Ho Wan.
