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Consumer Services

Jollibee Foods Corp.

In the news

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. is engaged in developing, operating, and franchising fast food stores under the trade name Jollibee. The company 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. Jollibee Foods was founded by Tony Tan Caktiong in 1975 and is headquartered in Pasig City, Philippines.

Financial Highlights

Dec 2020 PHPUSD
Revenue129,313.00M2,607.09M
Gross Profit13,924.17M280.72M
Operating income-8,148.97M-164.29M
Income before tax-12,211.32M-246.19M
Net income-11,510.72M-232.06M
EBITDA6,419.76M129.42M
Diluted EPS-10.44-0.21
Dividends Per Share0.780.01
Total Assets210,827.30M4,390.08M
Total liabilities173,366.26M3,610.02M
Total equity38,556.43M802.86M
Operating cash flow-1,924.04M-38.79M
Currency in PHPCurrency in USD

Historical Data

PHP | USD
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 113,811.47M 133,613.08M 161,167.78M 179,626.18M 129,313.00M
Gross Profit 20,542.73M 23,481.06M 28,205.27M 28,749.86M 13,924.17M
Operating income 6,825.22M 7,259.01M 8,997.44M 6,691.28M -8,148.97M
Income before tax 7,730.12M 8,339.51M 10,408.45M 10,542.56M -12,211.32M
Net income 6,164.73M 7,109.12M 8,212.60M 7,302.72M -11,510.72M
EBITDA 10,899.66M 12,004.17M 20,883.19M 20,186.67M 6,419.76M
Diluted EPS 5.64 6.49 7.44 6.60 -10.44
Dividends Per Share 2 2.32 2.57 1.97 0.78
Total Assets 72,878.72M 89,801.07M 150,530.05M 187,459.94M 210,827.30M
Total liabilities 38,580.14M 47,201.91M 101,516.78M 134,073.02M 173,366.26M
Total equity 33,619.39M 40,799.81M 47,512.28M 53,487.51M 38,556.43M
Operating cash flow 14,527.67M 12,502.80M 19,775.64M 18,724.20M -1,924.04M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 2,396.66M 2,650.28M 3,059.20M 3,469.00M 2,607.09M
Gross Profit 432.59M 465.75M 535.37M 555.22M 280.72M
Operating income 143.72M 143.98M 170.78M 129.22M -164.29M
Income before tax 162.78M 165.41M 197.56M 203.60M -246.19M
Net income 129.81M 141.01M 155.88M 141.03M -232.06M
EBITDA 229.52M 238.10M 396.39M 389.85M 129.42M
Diluted EPS 0.11 0.12 0.14 0.12 -0.21
Dividends Per Share 0.04 0.04 0.04 0.03 0.01
Total Assets 1,466.00M 1,798.89M 2,862.60M 3,701.45M 4,390.08M
Total liabilities 776.06M 945.55M 1,930.52M 2,647.31M 3,610.02M
Total equity 676.27M 817.30M 903.53M 1,056.12M 802.86M
Operating cash flow 305.92M 247.99M 375.37M 361.60M -38.79M

Valuation Measures

Dec 2020
PER--
ROA-5.78%
ROE-25.01%
Operating margin-6.30%
Profit margin-8.90%

Key executives

  • President, CEO & Executive Director: Ernesto Tanmantiong
  • CFO, Compliance Officer & VP-Corporate Finance: Ysmael Villoso Baysa
  • Vice President & Head-Corporate Legal: Valerie Feria Amante
  • Vice President & Comptroller-Worldwide: Marilou N. Sibayan
  • Chief Procurement Officer: Susana K. Tanmantiong

Shareholders

  • Hyper Dynamic Corp. (43.6%)
  • Honeysea Corp. (4.5%)
  • Government Service Insurance System (2.2%)
  • Norges Bank Investment Management (1.7%)
  • Honeyworth Corp. (1.7%)
  • First Sentier Investors (Hong Kong) Ltd. (1.4%)
  • Winall Holding Corp. (1.3%)
  • The Vanguard Group, Inc. (1.1%)
  • CAKTIONG TONY TAN (0.8%)
  • Southeastern Asset Management, Inc. (0.8%)

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

  • Jollibee Worldwide Pte Ltd. (Singapore)
  • Jollibee Foods Corp. (USA)
  • 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.
  • Guangxi San Pin Wang Food & Beverage Co. Ltd.
  • Beijing New Hongzhuangyuan Food & Beverage Management Co. Ltd
  • Jollibee (China) Food & Beverage Management Co. Ltd.
  • Southsea Binaries Ltd.
  • Golden Plate Pte Ltd.
  • Chanceux, Inc.
  • RRB Holdings, Inc.
  • Tokyo Teriyaki Corp.
  • Jollibee Foods Processing Pte Ltd.
  • Coffeetap Corp.
  • Mang Inasal Philippines, Inc.
  • Jollibee Vietnam Corp. Ltd.
  • Vismin Foods Corp.
  • Zenith Foods Corp.
  • Mary's Foods Corp.
  • Grandworth Resources Corp.
  • Tokyo Terriyaki Corp.

Competitors

  • Restaurant Brands International Inc
  • Yum! Brands, Inc.
  • McDonald's Corporation
  • Max's Group Inc
  • Good Times Restaurants Inc.
  • Alliance Global Group Inc.
  • FAT Brands Inc. Class A

Copyright © 2021 FactSet Research Systems Inc. All rights reserved.

Last Updated on 15 Oct, 2021

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