New Record for a Brighter Future. In his report to shareholders, Jollibee Group President and CEO Ernesto Tanmantiong shared about the company’s record growth in 2022 and reiterated the company’s commitment to sustainability with Joy for Tomorrow, its sustainability agenda.

MANILA, Philippines. 30 June 2023– In 2022, Jollibee Foods Corporation (Jollibee Group) attained record-high business results by overcoming challenging macroeconomic headwinds, proving once again the strength of its business fundamentals and growth plans.

The Jollibee Group achieved a record-high operating profit of Php9.9 billion for FY 2022, which is 58.4% higher than in 2021 and 6.5% better than its highest pre-pandemic operating income level of Php9.3 billion.

Speaking during Jollibee Foods Corporation’s Annual Stockholders Meeting, Jollibee Group President and CEO Ernesto Tanmantiong shared updates on the company’s performance in 2022 and Q1 2023.

“We have accomplished another year of excellent financial performance despite the many challenges we have had to overcome over the past few years,” shared Tanmantiong. “Through increased dine-in sales, the resilience of our off-premise channels, continued product innovation product offerings, and accelerated global expansion, we were able to achieve a record year for the company. This was made possible by the support of our JFC team, and our customers and business partners around the world.”

Jollibee Group’s overall sales grew significantly due to the easing of pandemic restrictions in key markets, continued network expansion, and strong same-store sales. Systemwide sales (SWS) in 2022 amounted to Php296.8 billion—its highest-ever systemwide sales.

The Jollibee Group opened a total of 542 stores around the world, the majority of which were opened in international markets. This marks the third consecutive year of accelerated international store expansion and the highest number of overall store openings in a single year.

“Our success in 2022 has proven that by staying true to our mission of serving great-tasting food and bringing the joy of eating to everyone, a brighter, more joyful future is ahead of us,” added Tanmantiong.

Strong momentum in 2023

The Jollibee Group continued to deliver strong business results in Q1 2023, with an operating income of Php3.6 billion and SWS of Php78.6 billion, equivalent to an increase of 80.9% and 31.1% versus the previous year, respectively. The Jollibee Group also opened 111 stores in the first quarter, on target for its full-year guidance of 550-600 stores for FY 2023.

Joy for Tomorrow

The Jollibee Group likewise reiterated its commitment to its Global Sustainability Agenda, Joy for Tomorrow, which aims to strengthen the company’s commitment to sustainable business practices focusing on the pillars of Food, People, and Planet.

“We believe that we can only do well and continue to achieve great success by doing good, and that includes being more mindful of our impact on the world and helping the communities we operate in grow with us,” said Tanmantiong.

As part of this agenda, Jollibee Group Foundation (JGF)’s Farmer Entrepreneurship Program (FEP) has enabled over 700 smallholder farmers to directly deliver their produce to Jollibee Group. A total of 834,000 kilos of vegetables were delivered by FEP farmer groups in 2022: adding to the over 9 million kilos of produce delivered since the program begun in 2009.

As the Jollibee Group celebrates its 45 th year anniversary this year, Tanmantiong expressed his gratitude to shareholders, business partners, customers, and the JFC team for contributing to the company’s success.

“While we acknowledge that many more challenges lie ahead, we are ready to take them on, learn from them, and emerge stronger just as we have done in the last few years. We stay true to our focus on growth and success as we work together towards our shared goals and compete in the global QSR landscape. To our customers, shareholders, business partners, and the JFC Team around the world: we are grateful for your unwavering support and confidence,” said Tanmantiong.