Shakey’s Pizza Asia Ventures Inc. (SPAVI) reported audited 2025 results showing continued topline growth despite softer consumer demand in the second half. Systemwide sales reached P24.8 billion, up 14 percent year on year, while revenues rose 11 percent to P16.1 billion.
Even with last year’s gains, the group said it will prioritize reinforcing business resilience amid a more complex macroeconomic backdrop. Management plans to focus on keeping core brands relevant, optimizing its store network while pursuing disciplined expansion, and tightening cost controls, anchored on its “Guest First” strategy to deliver value and improve customer experience.
The group’s multi-brand portfolio—spanning Shakey’s, Potato Corner, Peri-Peri Charcoal Chicken, R&B Milktea, and Project Pie—remained central to its performance. Management said the mix of casual dining and value-oriented kiosk formats helped capture a wide range of consumer spending occasions, providing resilience amid uneven market conditions.
Expansion continued to drive growth. SPAVI opened 351 new stores in 2025, bringing its global footprint to 2,970 units, with about 16 percent located overseas. Same-store sales growth, however, slowed to 1 percent for the full year, reflecting cautious consumer spending.
Fourth-quarter performance tracked annual trends, with systemwide sales rising 14 percent. The company accelerated expansion with 163 new outlets during the period, though holiday demand remained subdued and same-store sales were flat.
President and chief executive officer Vic Gregorio described 2025 as “a tale of two halves,” citing strong first-half momentum supported by easing inflation and brand campaigns, followed by weaker discretionary spending later in the year. He noted that value-driven formats such as Potato Corner outperformed, offsetting softer demand in casual dining.
Margins came under pressure as expansion costs weighed on profitability. Gross margin declined to 22.9 percent, while operating expenses rose to 14.6 percent of sales. Reported net income after tax fell 32 percent to P816 million, though core EBITDA edged up 3 percent.
