C08311-2022

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Nov 8, 2022
2. SEC Identification Number
77487
3. BIR Tax Identification No.
000-388-771
4. Exact name of issuer as specified in its charter
JOLLIBEE FOODS CORPORATION doing business under the name and style of Jollibee
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
10/F JOLLIBEE PLAZA BUILDING, 10 F. ORTIGAS JR. AVENUE, ORTIGAS CENTER, PASIG CITY Postal Code 1605
8. Issuer's telephone number, including area code
(632) 8634-1111
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 1,118,722,183
Treasury Shares 16,447,340
Preferred Shares (JFCPA) 3,000,000
Preferred Shares (JFCPB) 9,000,000
11. Indicate the item numbers reported herein
-

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Jollibee Foods CorporationJFC

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

JFC Reports Financial Results for Q3 2022
Sustains Strong Sales and Profit Growth
Background/Description of the Disclosure

Following are the highlights of the financial results of operations of Jollibee Foods Corporation (JFC) and its subsidiaries for the third quarter and nine months ended September 30, 2022, based on its Unaudited Consolidated Financial Statements:

[See attachment for details]

Jollibee Foods Corporation (JFC), one of the largest Asian food service companies reported today that its systemwide sales grew to a historical record high of Php77.8 billion, representing a 51.3% increase in the third quarter compared to sales in the same period last year. System wide sales pertain to all sales to consumers both from company owned and franchised stores. Revenues grew by 49%, to a historical record high of Php55.4 billion while operating income grew faster at 219.6%, or a Q3 historical record high of Php3.0 billion.

System wide sales of the Philippine business grew by 54.2% in the third quarter, with all brands registering double- to triple-digit growth compared to the third quarter of 2021. The international business grew by 47.5% with SuperFoods growing by 659.6%, EMEAA Philippine brands +54.6%, the Coffee Bean and Tea Leaf® (CBTL) +40.9%, North America +32.5% and China +14.2%.

Global same store sales grew by 30.9% while restaurant expansion and the acquisition of Milksha contributed 13.8%. Changes in currency exchange rates added 6.6% to the sales growth. The Philippine business’ same store sales for the third quarter grew by 48.5%, sustaining the strong growth in the second quarter of 2022, driven largely by an increase in volume of customer visits compared to a year ago. Same store sales of the international business grew by 8.5%, led by SuperFoods which grew by 177.1%, CBTL by 16.0%, EMEAA by 7.9% and North America by 6.0%. The China business' same store sales declined by 4.6% due to a resurgence of COVID in key cities.

JFC CEO, Mr. Ernesto Tanmantiong gave the following comment: “The JFC Group achieved another record quarter with system wide sales reaching Php77.8 billion, up 51.3% versus same quarter last year. All regions registered double-digit sales growth driven by strong same store sales and store network growth. Our beverage business composed of CBTL, Highlands Coffee and Milksha, which currently accounts for 30% of the JFC Group’s consolidated store network and 15% of consolidated system wide sales, generated a 90.6% year-on-year growth in system wide sales in the third quarter. We continue to see a strengthening of our sales globally and are confident that we can deliver according to our full-year outlook.”

The JFC group generated an operating income for the third quarter of Php3.0 billion, close to the Php3.1 billion generated in the second quarter and three times higher than the operating income for the same period in 2021. General and administrative expenses as well as advertising and promotions grew at a slower rate than revenues, improving the expense ratio from 13.1% of revenues for the third quarter of 2021 to 11.6% for the third quarter of 2022.

JFC Chief Financial Officer, Mr. Richard Shin gave the following statement: “JFC reported a solid performance in the third quarter of 2022 driven by record system wide sales and revenues and continued improvement in margins despite macro-economic pressures. Consolidated operating income grew by 219.6% to Php3.0 billion, from a revenue growth of 49.0%. We recorded consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) of Php8.2 billion in the third quarter, up 64.8% from the Php5.0 billion in the same period last year. We also reported a record quarter 3 net income attributable to equity holders of the Parent Company of Php2.1 billion compared to Php1.6 billion in the third quarter of 2021, a growth of 36.4% year-on-year, despite a challenging currency and base rate environment.”

[See attachment for full press release.]
Other Relevant Information

Please see attachment for full press release.
Filed on behalf by:
Name VALERIE AMANTE
Designation VICE-PRESIDENT