Ernesto Tanmantiong, president and chief executive officer of Jollibee Foods Corp., aims to triple the net income of the Philippines’ largest restaurant group within the next five years.
“With our portfolio of strong, valuable brands, the support of our global team, and our consistent efforts to drive long-term growth, we are confident in our ability to deliver on this goal,” said Tanmantiong.
Jollibee recorded a net income attributable to equity holders of the parent company of P8.8 billion in 2023, up 16.0 percent.
Tanmantiong said Jollibee’s growth strategy centers around four key areas–expanding the Jollibee brand internationally, enhancing its coffee and tea business, accelerating growth in China exponentially, and sustaining robust growth and reinforcing leadership in the Philippines.
Jollibee already has more than 1,600 stores abroad, which account for 49 percent of systemwide sales.
Tanmantiong said global recognition of Jollibee as the second fastest-growing restaurant brand worldwide is underscored by its rise to 17 from 20 in the Global Restaurant Rankings and increasing brand value by 51 percent to USD2.3 billion.
Looking ahead, Jollibee plans to intensify franchising efforts in key markets and advance its digital transformation to align with global Quick Service Restaurant standards. These initiatives aim to boost operational efficiency, enhance customer experiences, and optimize revenue management.
Strategic investments are a priority for growth.
Earlier this year, Jollibee Group announced investments in Botrista, Inc., reinforcing synergies with its coffee and tea brands. Additionally, the Company disclosed its participation in Titan Fund II, committing $90 million to drive strategic investments in food and beverage concepts across Asia Pacific.
Tanmantiong concluded by affirming the Group’s commitment to capitalizing on these strategic opportunities to deliver sustainable value to stakeholders in both the near and long term.
