The Jollibee Group is accelerating its transformation into a major global food powerhouse, fueled by robust earnings, aggressive international expansion, and operational efficiencies that pushed its system-wide sales (SWS) and net income to all-time highs in 2024.

During its annual stockholders’ meeting, Jollibee Group Global president and CEO Ernesto Tanmantiong said the company carried its strong momentum into the first quarter, reporting double-digit gains in revenue (up 14.6 percent), SWS (up 18.9 percent), and operating income (up 17.6 percent).

The group’s growth was evenly paced across its Philippine and international operations, which expanded by 11.9 percent and 29.5 percent, respectively.

For 2024, Jollibee Group’s net income attributable to equity holders breached the P10-billion mark for the first time, reaching P10.3 billion, while SWS soared to P390.3 billion, reflecting growing customer demand and solid same-store sales both locally and abroad.

“From the start, we’ve dared to dream big — dreams that have shaped our journey and pushed us to reach higher,” Tanmantiong said.

“Each milestone brings us closer to our bold goal of tripling Net income after Tax and reaching a 20 percent Return on Invested Capital by 2028 and standing among the Top 5 restaurant companies in the world.”

Operating income up 17.2%

Operating income for the year rose 17.2 percent to P16.9 billion, with gross profit margins expanding by 60 basis points to 19.2 percent and operating income margin improving to 6.3 percent — a testament to cost discipline and market execution.

Jollibee’s push to become one of the world’s Top 5 restaurant companies is reflected in its rapid global expansion. In 2024 alone, the company opened 674 new stores — 536 of them overseas — bringing its total store network to over 9,700 branches worldwide. Nearly 7 in 10 stores are now franchise-operated, highlighting the scalability of its model.