Jollibee reports 8.1% dip in Q1 net income
The group said this was due to ‘non-operational factors’.
Jollibee Group reported a net income attributable to equity holders (NIAT) of $43m (P2.4b) in the first quarter of 2025, a dip of 8.1% compared to the same period last year.
The group said this was primarily due to higher below-the-line items.
The Jollibee Group reported first quarter 2025 system-wide sales (SWS) of $1.85b (P103.2b), an increase of 18.9% compared to 2024.
The increase was driven by a combination of 5.5% same-store sales growth (SSSG), mainly from volume growth and new store contribution. Consolidated revenues grew by 14.6% to $1.26b (P70.2b).
Same-store sales in its business in its home market in the Philippines increased by 8.5%, boosted by the robust SSSG of its grilled chicken brand Mang Inasal (15.9%), bakery brand Red Ribbon (11.1%), Jollibee (8.6%) and Chinese cuisine brand Chowking (6.2%).
SSSG of the international business grew slightly by 0.7%, with EMEAA posting 5.3%, NA Asian Brands 4.8%, Highlands Coffee 4.4%, Milksha 3.1%, and CBTL 2.8%. The Jollibee Group’s China business declined by 8.3%, but Yonghe King showed sequential improvement in monthly volume or transaction count (TC) growth during the first quarter.
Smashburger also registered a negative 8% SSSG, mainly from TC decline. Operating income grew by 17.6% to $86m (P4.8b) despite a 56.2% increase in advertising and promotions. The related margin percentage improved by 10 bps, arising mainly from a higher gross profit level and a modest rise in general and administrative expenses.
The group said it is reaffirming its full-year guidance.
