Shakey’s Pizza Asia Ventures, Inc., a leading food service group in the country, reported a 17 percent year-on-year increase in systemwide sales for the first quarter of 2025, reaching P3.5 billion in revenue, a 14 percent uptick. The performance was driven by broad-based growth across all brands and markets, bolstered by continued domestic expansion and rising international traction.
SPAVI’s diverse portfolio—which includes flagship Shakey’s Pizza, Peri-Peri Charcoal Chicken & Sauce Bar, and the rapidly expanding Potato Corner—now spans 2,671 outlets globally. This reflects a 439-store increase since 1Q 2024, including 130 new international units. Notably, 52 net new stores were added in 1Q 2025 alone, mostly under the Potato Corner banner. International stores now comprise nearly 20 percent of the total network.
CEO Vic Gregorio credited the company’s solid start to the year to sustained consumer demand, network expansion, and brand-building efforts, particularly around Shakey’s 50th anniversary celebration. “With inflation cooling and macroeconomic conditions improving, we’re gaining momentum to sustain growth across all our markets,” Gregorio said.
Normalized same-store sales growth (SSSG) came in at 4 percent, adjusted for 2024’s leap year and early Easter. Operating income rose 15 percent year-on-year to P285 million, while net income after tax improved 6 percent to P182 million, reflecting resilient core performance despite margin pressures from expansion-related investments. Gross margin declined by 130 basis points to 22 percent, partially offset by a 140-basis point reduction in operating expenses as a percentage of sales.
SPAVI reaffirmed its full-year outlook, targeting continued double-digit top- and bottom-line growth. Store expansion is projected to exceed 430 new units in 2025, as the company doubles down on strategic investments and international growth.
“Our transformation into a multi-brand, geographically diverse food service group positions us strongly for the long term,” Gregorio added. “We’re committed to scaling responsibly while delivering exceptional guest experiences across our brands and markets.”
This performance reinforces SPAVI’s evolution from a domestic pizza chain into a high-growth, diversified platform poised to play a larger role in the regional food service landscape.
