Jollibee Foods Corp.

Company Background

Started by its chairman, Tony Tan Caktiong, as an ice cream parlor in 1975, Jollibee Foods is now one of Asia's top quick-service restaurant chains by market value. Jollibee, the company's flagship chain, has become a household name in the Philippines Its other quick-service restaurant brands include Chowking, which serves Asian cuisine; Greenwich, which does pizza; Red Ribbon, a bakery chain; and Mang Inasal, where the specialty is grilled chicken. The company also owns the Philippines franchise rights for Burger King.

Outside the Philippines, Jollibee Foods has affiliates that develop and operate international brands like Yonghe King, Hong Zhuang Yuan, San Pin Wang and 12 Hotpot. It has restaurants in Brunei, China, Hong Kong, Kuwait, Oman, Qatar, Saudi Arabia, Singapore, the U.S. and Vietnam.

The chains sell dishes that are prepared on-site and are based on original company recipes. The restaurants use company-specified ingredients and supplies, and follow company standards and procedures. Tan Caktiong, a chemical engineering graduate from the University of Santo Tomas in Manila, in August stepped down as Jollibee CEO and was replaced by his brother Ernesto Tanmantiong.

Business Summary

Jollibee Foods Corp. engages in the development, operation, and franchising fast food stores under the trade name Jollibee. It operates through the following segments: Food Service, Franchising, and Leasing. The Food Service segment operates quick service restaurants and the manufacture of food products to be sold to Jollibee Group-owned and franchised QSR outlets. The Franchising segment franchises the Jollibee Group's QSR store concepts. The Leasing segment leases store sites mainly to the Jollibee Group's independent franchisees. The company was founded by Tony Tan Caktiong in 1975 and is headquartered in Pasig City, Philippines.

Financial Highlights

Dec 2022	PHP	USD
Revenue	211,902.21M	3,886.60M
Gross Profit	36,265.73M	665.16M
Operating income	10,161.10M	186.37M
Income before tax	11,183.53M	205.12M
Net income	7,558.50M	138.63M
EBITDA	25,759.69M	472.47M
Diluted EPS	6.38	0.11
Dividends Per Share	--	--
Total Assets	245,828.49M	4,411.25M
Total liabilities	185,178.26M	3,322.92M
Total equity	62,220.76M	1,116.51M
Operating cash flow	21,731.56M	398.58M
	Currency in PHP	Currency in USD

Historical Data

PHP | USD

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	161,167.78M	179,626.18M	129,313.00M	153,575.59M	211,902.21M
Gross Profit	28,205.27M	28,749.86M	13,924.17M	25,428.29M	36,265.73M
Operating income	8,997.44M	6,691.28M	-8,148.97M	5,752.05M	10,161.10M
Income before tax	10,408.45M	10,542.56M	-12,211.32M	6,186.84M	11,183.53M
Net income	8,212.60M	7,302.72M	-11,510.72M	5,981.69M	7,558.50M
EBITDA	20,883.19M	20,186.67M	6,419.76M	19,234.31M	25,759.69M
Diluted EPS	7.44	6.60	-10.44	5.29	6.38
Dividends Per Share	2.57	1.97	0.78	1.96	--
Total Assets	150,530.05M	187,459.94M	210,827.30M	210,855.40M	245,828.49M
Total liabilities	101,516.78M	134,073.02M	173,366.26M	156,918.87M	185,178.26M
Total equity	47,512.28M	53,487.51M	38,556.43M	55,618.72M	62,220.76M
Operating cash flow	19,775.64M	18,724.20M	-1,924.04M	17,677.25M	21,731.56M

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	3,059.20M	3,469.00M	2,607.09M	3,115.46M	3,886.60M
Gross Profit	535.37M	555.22M	280.72M	515.84M	665.16M
Operating income	170.78M	129.22M	-164.29M	116.68M	186.37M
Income before tax	197.56M	203.60M	-246.19M	125.50M	205.12M
Net income	155.88M	141.03M	-232.06M	121.34M	138.63M
EBITDA	396.39M	389.85M	129.42M	390.19M	472.47M
Diluted EPS	0.14	0.12	-0.21	0.10	0.11
Dividends Per Share	0.04	0.03	0.01	0.03	--
Total Assets	2,862.60M	3,701.45M	4,390.08M	4,135.02M	4,411.25M
Total liabilities	1,930.52M	2,647.31M	3,610.02M	3,077.29M	3,322.92M
Total equity	903.53M	1,056.12M	802.86M	1,090.72M	1,116.51M
Operating cash flow	375.37M	361.60M	-38.79M	358.60M	398.58M

Valuation Measures

Dec 2022
PER	35.93
ROA	3.31%
ROE	12.82%
Operating margin	4.79%
Profit margin	3.56%

Key executives

President, CEO & Executive Director: Ernesto Siao Tanmantiong
Chief Financial Officer: Richard Shin
Chief Compliance Officer: Valerie Feria Amante
Vice President & Comptroller-Worldwide: Marilou N. Sibayan
Chief Procurement Officer: Susana K. Tanmantiong

Shareholders

Hyper Dynamic Corp. (43.3%)
Honeysea Corp. (4.5%)
Government Service Insurance System (2.2%)
Honeyworth Corp. (1.7%)
First Sentier Investors (Hong Kong) Ltd. (1.5%)
First Sentier Investors (UK) IM Ltd. (1.5%)
Norges Bank Investment Management (1.3%)
Winall Holding Corp. (1.3%)
The Vanguard Group, Inc. (1.1%)
BlackRock Fund Advisors (0.9%)

Contact Details

Website:http://www.jollibee.com.ph
Address: 10/F, Jollibee Plaza Building, No. 10 F. Ortigas Jr. Avenue, Pasig City, 1605, Philippines
Phone: +63.2.634.1111

Related Companies

QSR Builders, Inc.
Ice Cream Copenhagen Phils., Inc.
BKTitans, Inc.
Super Magnificent Coffee Co. Hungary Kft.
Super Magnificent Coffee Co. Ireland Ltd.
Hangzhou Yong He King Food & Beverage Co. Ltd.
Regional Operating Headquarters of JWPL
Honeybee Foods (Canada) Corp.
Quantum Corp. (Vietnam)
Highland Coffee Service JSC
Bee World Spain SL
Super Magnificent Coffee Co. Pte Ltd.
Cibo Felice Srl
Bee World UK Ltd.
Jollibee Worldwide Pte Ltd. (Singapore)
Jollibee Foods Corp. (USA)
SJBF LLC
Happy Bee Foods Processing (Anhui) Co., Ltd.
IConnect Multi Media Network, Inc.
BK Titans, Inc.
Jollibee Hong Kong Ltd.
Coffee Bean & Tea Leaf
Adgraphix, Inc.
Wuhan Yonghe King Food & Beverage Co. Ltd.
Shenzhen Yong He King Food & Beverage Co. Ltd.
Beijing Yong He King Food & Beverage Co. Ltd.
Tianjin Yong He King Food & Beverage Co. Ltd.
Hangzhou Yongtong Food & Beverage Co. Ltd.
Hangzhou Yonghe Food & Beverage Co. Ltd.
Shanghai Yong He King Food & Beverage Management Co. Ltd.

Competitors

Max's Group Inc
Restaurant Brands International Inc
Yum! Brands, Inc.
McDonald's Corporation
Wendy's Company
Good Times Restaurants Inc.
Alliance Global Group Inc.
Monde Nissin Corp.

Last Updated on 30 Mar, 2023