Jollibee’s revenue rises to US$4.7B in 2024, driven by coffee and tea growth 

PHILIPPINES – Jollibee Foods Corporation (JFC), one of the largest Asian food service companies, reported a 10.6 percent year-on-year revenue increase to US$4.7 billion in 2024, with its coffee and tea brands playing a key role in boosting sales and profitability. 

The company’s EBITDA rose 17 percent to US$295 million, while system-wide sales (SWS) grew 13 percent to US$6.8 billion. The Jollibee brand led this growth with a 14 percent increase in sales. 

The Philippine market saw an 11.4 per cent rise in SWS, with same-store sales growth (SSSG) of 7.9 per cent. 

 Internationally, Jollibee saw strong performance, with Vietnam recording 16.8 percent growth, EMEA excluding Vietnam at 11.6 percent, North America at 8.1 percent, and China at 13.2 percent. 

“The sustained growth of our business reflects the global strength of the Jollibee brand,” said Jollibee Group CEO Ernesto Tanmantiong.  

“We also made significant progress in our coffee and tea segment, particularly with the acquisition of Compose Coffee, which expanded our store network to more than 5000 locations, 78 per cent of which are franchised.” 

Meanwhile, JFC’s international SWS grew 17.6 per cent, primarily driven by its coffee and tea brands.  

The Coffee Bean & Tea Leaf (CBTL) recorded a 16 percent sales increase, Highlands Coffee grew 13 percent, and Compose Coffee, acquired in August 2024, contributed 7.9 percent to international expansion. Additionally, Philippine brands based in EMEA saw a 27 percent surge in sales. 

Jollibee has been aggressively expanding its coffee and tea business. With the acquisition of Compose Coffee, JFC now operates more than 5,000 coffee and tea outlets globally, further strengthening its market presence. 

Despite strong overall performance, JFC CFO Richard Shin acknowledged challenges in the China market, where sales declined by 8.3 percent due to economic headwinds affecting consumer spending.  

While same-store sales turned positive in the fourth quarter, he emphasized the need to improve daily sales and profitability in China. 

Looking ahead, JFC plans to accelerate its coffee and tea expansion, targeting 700 to 800 new store openings in 2025 as part of its long-term growth strategy. 

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