Jollibee 2022

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COMPANY PROFILE
Jollibee Foods Corp
REFERENCE CODE: 329EF5C8-1D6C-4ED0-AB20-0B78BFEA59A5

PUBLICATION DATE: 04 Feb 2022
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Jollibee Foods Corp
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview ........................................................................................................3

Key Facts ......................................................................................................................... 3
Business Description .....................................................................................................4
History ............................................................................................................................. 5
Key Employees .............................................................................................................19
Key Employee Biographies .........................................................................................21
Major Products & Services ..........................................................................................23
SWOT Analysis .............................................................................................................24
Top Competitors ...........................................................................................................29
Company View ..............................................................................................................30
Locations And Subsidiaries ........................................................................................31
Jollibee Foods Corp Page 2

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Jollibee Foods Corp
Company Overview
Company Overview
COMPANY OVERVIEW
Jollibee Foods Corp (JFC or ‘the company’) is franchising of quick-service restaurants (QSRs). The
company is also development and operation of QSRs restaurant. Additionally, it engaged in
manufacturing and property leasing activities in support of the QSR systems. The company also operates
delivery service anytime. Its products portfolio comprises beverages and desserts, breakfast foods,
chicken, kid’s meal and snacks including burger, noodles, sandwiches and slides. It also provides
services including food delivery, food stores services and event celebration. Jollibee primarily operates in
the Philippines, Singapore, Indonesia, Hong Kong, the US, Vietnam, Canada and China. The company is
headquartered in Pasig City, Philippines.
The company reported revenues of (Philippine Pesos) PHP129,313 million for the fiscal year ended
December 2020 (FY2020), a decrease of 28% over FY2019. The operating loss of the company was
PHP12,811.5 million in FY2020, compared to an operating profit of PHP10,734.3 million in FY2019. The
net loss of the company was PHP11,510.7 million in FY2020, compared to a net profit of PHP7,302.7
million in FY2019.
The company reported revenues of PHP37,201.4 million for the third quarter ended September 2021, an
increase of 1.4% over the previous quarter.
Key Facts
KEY FACTS
Head Office Jollibee Foods Corp

10/F Jollibee Plaza Building
Emerald Ave., Ortigas Center
Pasig
Pasig
PHL
Phone 63 63 41111
Fax 63 2 86341111
Web Address www.jollibee.com.ph
Revenue / turnover (PHP Mn) 129,313.0
Revenue (USD Mn) 2,608.2
Financial Year End December
Employees 11,819
Philippine Stock Exchange Ticker JFC

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Jollibee Foods Corp
Business Description
Business Description
BUSINESS DESCRIPTION
Jollibee Foods Corp (JFC) is a multinational chain of fast-food restaurants in the Philippines. The product
portfolio of the company comprises beverages and desserts, breakfast foods, chicken, kid’s meal and
snacks including burger, noodles, sandwiches and sides. It also provides services including food delivery,
event celebration and 24 hours food stores services. It also operates commissaries or manufacturing
plants to support the continued growth of its retail chain. As of December 31, 2020, the company
operated 1,184 stores in the Philippines and 294 Internationally, including the US, the UK, Canada,
Guam, Italy, Malaysia, Vietnam, Brunei, Hong Kong, Singapore, Macau, Malaysia and the Middle East.
The company operates through three business segments: Food Service, Franchising and Leasing.

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Jollibee Foods Corp
History
History
HISTORY
Corporate Changes/Expansions
Year: 2022
In February, the company opened its first restaurant in West Malaysia.
Plans/Strategy
Year: 2022
In February, the company announced its plans to open two branches in Scotland.
Plans/Strategy
Year: 2022
In January, the company announced its plans to open new branch in Chicago.
Contracts/Agreements
Year: 2021
In December, the company selected Amazon Web Services as its preferred cloud provider globally.
Year: 2021
In December, the company's Chowing USA opened its first store in the US East Coast in New Jersey
state, US.
Year: 2021
In December, the company announced to open a new stores in Vietnam, Scotland, the UK.
Plans/Strategy
Year: 2021

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Jollibee Foods Corp
History
In November, the company announced its plan to expand its footprint in China with the opening of
additional stores next month.
Acquisitions/Mergers/Takeovers
Year: 2021
In November, the company’s unit Jollibee Worldwide, Pte. Ltd., agreed to acquire 51% stake in Milkshop
International Co. Ltd for US$12.8 million.
Year: 2021
In September, the company’s unit Jollibee Worldwide completed the acquisition of Tim Ho Wan.
Financing Agreements
Year: 2021
In August, the company invested in DoubleDragon Properties Corp.’s industrial leasing unit.
Year: 2021
In August, the company acquired 38.71% stake in CentralHub Industrial Centers (CentralHub) Inc.
Plans/Strategy
Year: 2021
In August, the company announced its plans to acquire Tim Ho Wan.
Year: 2021
In May, the company opened a new store at Leicester Square, London, the UK.
Year: 2021

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Jollibee Foods Corp
History
In May, the company opened its Europe’s flagship store in London, the UK.
Year: 2021
In February, the company announced a joint venture with Yoshinoya to open Yoshinoya stores in the
Philippines.
Plans/Strategy
Year: 2021
In January, the company announced its plans to open 100 outlets of Vietnamese restaurant PHO24.
Year: 2020
In December, the company opened its third store in Leicester City, the UK.
Corporate Awards
Year: 2020
In December, the company was adjudged winner of Gallup Exceptional Workplace Award. Also, the
company was named to 2020 Forbes’ list of the World’s Best Employers.
Year: 2020
In October, the company through its wholly-owned subsidiary Jollibee Worldwide Pte Ltd to acquire
additional 25% stake in SG PE fund Titan Dining.
New Products/Services
Year: 2020
In September, the company introduced 24/7 delivery at select stores in Philippines.
Year: 2020

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Jollibee Foods Corp
History
In September, the company opened its new store in Liverpool, the UK.
Year: 2020
In September, the company launched its new stores in Boston and New York, the US.
Year: 2020
In August, the company launched the Jollibee App, allowing customers to order online through the app.
Year: 2020
In August, the company announced the opening of a new store in West Plano, Texas, the US.
Year: 2020
In June, the company announced to open its first cloud kitchen in Chicago, Illinois, the US.
Plans/Strategy
Year: 2020
In February, JFC announced the plans to set up 25 stores in the US and Canada.
Year: 2020
In February, the company launched Tortazo, a new fast casual dining concept of Mexican food.
Year: 2020
In January, the company signed a Memorandum of Association (MOU) with the Pasay City Government
to provide qualified senior-citizens and differently-abled individuals job opportunity in the company.

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Jollibee Foods Corp
History
Year: 2020
In January, the company opened a new store in Tampa, Florida, the US.
Year: 2019
In December, the company opened a new store in Saskatchewan, Canada.
Year: 2019
In November, the company opened a new headquarters in Covina, California, the US.
Year: 2019
In November, the company announced to open Tim Ho Wan restaurants in China.
Year: 2019
In November, the company opened its new North American Headquarters in Los Angeles, California.
Year: 2019
In September, the company announced the opening of opening of its first store in Calgary, Canada.
Year: 2019
In September, the company announced the opening of its third Fast-food restaurant in Toronto, Canada.
Plans/Strategy
Year: 2019

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Jollibee Foods Corp
History
In July, Jollibee announced its plans to open a restaurant in Madrid and Rome.
Plans/Strategy
Year: 2019
In July, Jollibee announced its plans to open a restaurant in Vietnam.
Year: 2019
In July, the company partnered with Panda Restaurant Group Inc for the introduction of Panda Express
restaurants in Manila, Philippines.
Year: 2019
In July, the company announced its plan to acquire Coffee Bean and Tea Leaf chain for US$350 million.
Plans/Strategy
Year: 2019
In June, the company announced its plan to open five more Guam stores in the US.
Plans/Strategy
Year: 2019
In April, Jollibee announced its open its first location in China.
Year: 2019
In April, the company opened its first Guam store in the US.
Year: 2018
In December, the company acquired 15% stake in Smashburger from Black Shamrock Partners.

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Jollibee Foods Corp
History
Plans/Strategy
Year: 2018
In November, Jollibee Foods Corp announced its plans to expand its stores in the US.
Year: 2018
In November, Jollibee opened its store in Manhattan, New York, the U.S.
Plans/Strategy
Year: 2018
In October, Jollibee announced its plans to expand in New York City, with a new restaurant.
Year: 2018
In September, Jollibee Foods announced its plans to acquire 47% stake in Tortas Frontera, the US based
fast casual concept for a value at US$12.4 million.
Year: 2018
In August, Jollibee opened its store in Mississauga, Canada.
Year: 2018
In July, the company and Panda Restaurant Group announced to form a joint venture, JBPX Foods, Inc.
Year: 2018
In May, the company opened 1,000th store in the Philippines at BGC Triangle Drive in Taguig City.

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Jollibee Foods Corp
History
Year: 2018
In May, the company entered into an agreement to acquire 45% stake in Titan Dining LP.
Year: 2018
In February, the company agreed to acquire additional 45% stake in Smashburger Master, for US$100
million.
Plans/Strategy
Year: 2016
In November, the company plans to acquire 30% stake in Happy Bee Goods Processing.
Year: 2016
In November, the company received a government and regulatory approval in China to acquire 100%
control over a noodle manufacturing facility, strengthening business in China, Yonghe King.
Year: 2016
JFC entered into an agreement with Cargill Philippines (a wholly-owned subsidiary of Cargill) in May
2016, to establish a joint venture, Cargill Joy Poultry Meats Production. This new company will operate a
poultry processing plant in Santo Tomas in the Philippines.
Year: 2016
In January 2016, the company’s wholly-owned subsidiary, Bee Good! (BGI) acquired 40% stake in
Smashburger business, a US-based burger restaurant chain, from Smashburger Master.
Year: 2016
In April 2016, the company acquired 30% stake in Mang Inasal Philippines from a group of investors,

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Jollibee Foods Corp
History
including Injap Investments, Mr. Edgar J. Sia II and Mr. Fredinand J. Sia. JFC currently owns 100% stake
in Mang Inasal Philippines.
Year: 2016
JFC, through its subsidiary Jollibee Worldwide, entered into an agreement with Hua Xia Harvest Holdings
to acquire the latter’s 30% equity shareholding in the joint venture, Happy Bee Foods Processing (Happy
Bee), in February 2016. On completion of the transaction, the company will own 100% stake in Happy
Bee.
Plans/Strategy
Year: 2016
The company announced a plan to open 1000th store by 1st quarter of 2017.
Year: 2016
The company announced the formation of a wholly-owned subsidiary, ONE Media 3.0, in April 2016. The
new company will develop business opportunities, products and services associated with the ATSC 3.0
broadcast transmission standard and TV platform.
Year: 2015
JFC opened its 1,000th Jollibee store in Dubai, the UAE (first store in the region), in 2015. The company
also opened its first store in Bahrain during the same year.
Year: 2014
In 2014, the company announced that its subsidiary, Golden Plate, signed a joint venture agreement with
Golden Crown Foods to establish a company that would own and operate Jollibee stores in the UAE.
Year: 2012
JFC through Jollibee Worldwide completed its acquisition of 55% of interest in Guangxi San Pin Wang

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Jollibee Foods Corp
History
Food and Beverage Management Company Limited which operates the San Pin Wang beef noodle
business in South China in 2012.
Year: 2011
In 2011, JFC, through its wholly-owned subsidiary Jollibee Worldwide, acquired 2,400 shares in Chow
Fun Holdings, a developer and owner of Jinja Bar and Bistro in New Mexico, and in the US from Aspen
Partners. The transaction increased the company’s equity share in Chow Fun Holdings to 80.55%. Also in
2011, the company acquired 54% equity interest in BKTitans, an owner of PERF Restaurants, the sole
franchisee of the Burger King Brand in the Philippines.
Business / Operations Closure
Year: 2011
Fresh N' Famous Foods discontinued the operations of its Manong Pepe Karinderia business unit.
Year: 2011
The company signed an agreement to acquire 54% stake in BK Titans Inc.
Year: 2010
In 2010, the company acquired 70% of Mang Inasal Philippines, the owner and operator of the Mang
Inasal restaurant chain.
Asset Disposal
Year: 2010
JFC's wholly-owned subsidiary, Fresh N' Famous Foods, sold assets of the Delifrance business unit to
CafeFrance Corp.
Year: 2010
JFC, through its wholly-owned subsidiary Grandworth, acquired the remaining 40% of the issued and
outstanding shares of Adgraphix, in 2010. In the same year, the company acquired 55% stake in Guangxi

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Jollibee Foods Corp
History
Zong Kai Food and Beverage Management Company Limited which operates San Pin Wang, a chain of
beef noodles business in south China.
Year: 2009
In 2009, Jollibee Worldwide acquired 70% of the issued and outstanding shares of Lao Dong in Taipei,
Taiwan.
Year: 2009
Grandworth, a wholly-owned subsidiary of the company, established IConnect Multimedia Network, a

multimedia advertising company
Year: 2008
JFC, through its wholly-owned subsidiary Jollibee Worldwide, acquired a 12% stake in the US-based
Chow Fun Holdings in 2008. In the same year, Jollibee Worldwide also acquired 100% of the issued and
outstanding shares of Hongzhuangyuan, which operates the Hongzhuangyuan system in China.
Official Trials/Tests
Year: 2007
The company started testing of its new restaurant concept, Manong Pepe’s Karinderia serving Filipino
food at very low price points.
Year: 2007
In 2007, JFC acquired 15% stake in its minority partner in China-based QSR chain, Yonghe King, held by
Belmont Enterprises Ventures.`
Year: 2007
Further in 2007, the company opened its 600th Jollibee store in Aparri, the Philippines; and a new outlet
in Las Vegas, the US.

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Jollibee Foods Corp
History
Asset Purchase
Year: 2006
JFC bought 20% stake in Greenwich Pizza held by the local group, Green Foods Franchising in 2006. In
the same year, the company bought Singapore's Delifrance Asia from their equally owned joint venture
Baker Fresh Foods Philippines.
Year: 2006
JFC opened its first Chun Shui Tang (CST) Tea House in Shanghai, China.
Year: 2006
Towards the end of 2006, the company merged its wholly-owned Chinese fast food operation Chowking
Food, pizza and pasta venture Greenwich Pizza and Baker Fresh Foods Philippines, which holds the
franchise for the Delifrance chain.
Year: 2006
Chowking Food, a surviving entity, was renamed as Fresh N’ Famous Foods.
Year: 2005
In 2005, the company acquired Red Ribbon Bakeshop, one of the biggest and fastest growing bakeshops
in the Philippines.
Year: 2004
In 2004, the company acquired the Yonghe King, a fast food chain in China.
Year: 2004

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Jollibee Foods Corp
History
The company established The Jollibee Group Foundation
Year: 2000
JFC acquired Chowking, a Philippine-based chain, in 2000. In the following year, the company opened its
400th store in Intramuros, the Philippines.
Year: 1999
During 1999, the company opened 50 new stores in the Philippines, thereby bringing its store count to
350.
Year: 1998
The company opened its first store in the US in California.
Year: 1996
JFC opened its first store in Hong Kong during 1996.
Year: 1994
In 1994, JFC acquired Greenwich Pizza, a pizza and pasta chain in the Philippines.
Stock Listings/IPO
Year: 1993
The company was listed on the Philippines Stock Exchange in 1993.
Year: 1992

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Jollibee Foods Corp
History
By the end of 1992, JFC operated 112 stores across the Philippines.
Year: 1991
In 1991, the company opened its first store outside Luzon in Cagayan de Oro City in the Philippines.
Year: 1987
JFC marked its entry into international market by opening the first fast food outlet in Brunei in 1987. Two
years later, it opened another store in the same market.
Year: 1980
A year later, the company opened 20 new stores in the Philippines, bringing the total store count to 168.
JFC also expanded its store network in international markets by opening new stores in Guam, Dubai, the
UAE, Kuwait, Jeddah and Saudi Arabia.
Year: 1979
In 1979, the company opened its first franchised store at Ronquillo, Sta. Cruz in Manila.
Year: 1978
JFC was incorporated in 1978.
Incorporation/Establishment
Year: 1975
JFC was established in 1975.

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Jollibee Foods Corp
Key Employees
Key Employees
KEY EMPLOYEES
Name Job Title Board

Andrew L. Santos, Jr President-Chowking Business Unit Senior Management
Jose Alexander P. Subido President-Mang Inasal Business Unit Senior Management
Joseph Michael V. Castro General Manager-Greenwich Business Senior Management
Unit
Grace A. Tan Caktiong President-Jollibee Group Foundation Senior Management
Thomas Ryan Chief Product Development Advisor-JFC Senior Management
Global
Yixing Frank Sheng Head-Internal Audit and International Senior Management
Business
Thai Phi Diep Chief Executive Officer-SuperFoods Senior Management
Group
Cesar V. Purisima Director Non Executive Board
Justo S. Alano III Head-Foreign Franchised Brands, Senior Management
President-Philippine Unit
Valerie Feria Amante Assistant Corporate Secretary Senior Management
Arsenio M. Sabado Chief Human Resources Officer Senior Management
Li Yi General Manager-Hong Zhuang Yuan Senior Management
Business
Jose Amado M. Dominguez General Manager-Burger King Business Senior Management
Lorna D. Atun Assistant Vice President-Internal Audit Senior Management
Yi Sandy Sun General Manager-Dunkin’ Donuts China Senior Management
Business
Tony Tan Caktiong Chairman Executive Board
Marilou N. Sibayan Vice President-Global Comptrollership Senior Management
and Tax
Ernesto Tanmantiong Chief Executive Officer, Director, Executive Board
President
Carl Bachmann President-Smashburger Business Senior Management
Ysmael V. Baysa Chief Financial Officer, Chief Financial Senior Management
Officer and Compliance Officer
Daniel Rafael Ramon Z. Gomez Chief Marketing Officer Senior Management
III
Shu-Hwa Shirley Chang President-JFC China and Yong He King Senior Management
business
Carl Brian Tancaktiong Chairman-JFC China Senior Management
Fernando S. Yu, Jr. President-Jollibee Business Unit Senior Management
Susana K. Tanmantiong Chief Procurement Officer Senior Management

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Jollibee Foods Corp
Key Employees
William Tan Untiong Director, Corporate Secretary Executive Board

Ang Cho Sit Director Non Executive Board
Antonio Chua Poe Eng Director Non Executive Board
Artemio V. Panganiban Director Non Executive Board
Cezar P. Consing Director Non Executive Board
Joseph C. Tanbuntiong Director, Treasurer and President, Executive Board, Senior
Jollibee Philippines Business, President- Management
Regional Business Head of Philippines
Maribeth D. Dela Cruz President-Philippine Brands, North Senior Management
America
Zinnia Carmencita S. Rivera President-Red Ribbon Business Senior Management
Jose Ma. A. Minana, Jr. Group President for Mang Inasal, Burger Senior Management
King Phils. and JFC USA
Dennis M. Flores President-Regional Business Head of Senior Management
EMEAA
Rowel D. Vijandre President-Regional Business Head of Senior Management
North America

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Jollibee Foods Corp
Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Arsenio M. Sabado
Board:Senior Management
Job Title:Chief Human Resources Officer
Age:54
Mr. Arsenio M. Sabado is the Chief Human Resources Officer of the company. He joined the Company in
December 2018. Previously, he served as the Head of Human Resources and Organization Development
of ABS-CBN Group.
Tony Tan Caktiong
Board:Executive Board
Job Title:Chairman
Since:2014
Age:67
Mr. Tony Tan Caktiong has been the Chairman at JFC since 2014. He has been a member of the Board
at the company since 1978. Mr. Tan Caktiong was the President and Chief Executive Officer at JFC until
2014. Presently, he also serves as Co-Chairman of DoubleDragon Properties Corp and as Director at
various other companies.
Ernesto Tanmantiong
Board:Executive Board
Job Title:Chief Executive Officer, Director, President
Since:2014
Age:62
Mr. Ernesto Tanmantiong has been the President and Chief Executive Officer at JFC since 2014. He has
been a member of the Board since 1987. Earlier, Mr. Tanmantiong served as the Treasurer and Chief
Operating Officer at the company. Currently, he also serves as a Director at Fresh N’ Famous Foods, BK
Titans, Chowking Food Corporation, Adgraphix, Jollibee Worldwide, Imperial Premium Treasures,
Queenbee Resources Corporation and Jollibee Group Foundation, among others.
Ysmael V. Baysa
Job Title:Chief Financial Officer, Chief Financial Officer and Compliance Officer
Age:64

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Jollibee Foods Corp
Mr. Ysmael V. Baysa is the Chief Financial Officer of the company. He also serves as the Compliance
Officer of the company. He joined the company in 2003. Previously, he served as the Senior Vice
President of Financial Comptrollership, Human Resources and Corporate Planning at Union Bank. He
also served as the Finance Director at Procter & Gamble from 1993 to 2001.
Daniel Rafael Ramon Z. Gomez III
Job Title:Chief Marketing Officer
Age:48
Mr. Daniel Rafael Ramon Z. Gomez III is the Chief Marketing Officer at JFC. He joined the company in
2008. Previously, Mr. Gomez served as the Managing Director of Skin, Deodorants and Home Care at
Unilever Philippines. He also served as the Category Director of Skin and Deodorants categories at
Unilever.
Susana K. Tanmantiong
Job Title:Chief Procurement Officer
Age:62
Ms. Susana K. Tanmantiong is the Chief Procurement Officer at JFC. Previously, she served as JFC’s
Purchasing Vice President. She joined the company in 1984.
Jose Ma. A. Minana, Jr.
Job Title:Group President for Mang Inasal, Burger King Phils. and JFC USA
Age:56
Mr. Jose Ma. A. Minana, Jr. serves as the Chief Sustainability and Public Affairs Officer of the company.
Previously, he served as Head of Country Business Group for North America (US and Canada) at the
company. He joined the company in 2000.
Rowel D. Vijandre
Job Title:President-Regional Business Head of North America
Since:2019
Age:50
Mr. Rowel D. Vijandre is the President of Chowking Philippines at JFC. He joined the company in 2015.
Previously, Mr. Vijandre was the President at L’Oreal Philippines. Earlier, he served as the General
Manager at Johnson and Johnson Consumer Vietnam.

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Jollibee Foods Corp
Major Products & Services
Major Products & Services
MAJOR PRODUCTS & SERVICES

JFC is engaged in the development, operation, and franchising of QSRs. The company's key products,
services and brands include the following:
Burgers
Noodles
Chicken snacks
Sandwiches and sides
Beverages and desserts
Rice Meals
Breakfast
Express delivery service

Party service
Drive-Thru service
24 hours service
Jollibee
Chowking
Greenwich
Red Ribbon
Yong He King
Hong Zhuang Yuan
Mang Inasal
Burger King
SuperFoods
Highlands Coffee
Smashburger
12 Hotpot
Pho24
Dunkin’ Donuts

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Jollibee Foods Corp
SWOT Analysis
SWOT Analysis
SWOT ANALYSIS
Jollibee Foods Corp (JFC) is engaged in the development, operation, and franchising of QSRs. Market
presence, liquidity position, solvency position and in-built manufacturing and logistics capabilities are the
company’s key strengths, even as its weak operation performance remains an area for concern. Growing
quick service restaurants sector and travel and tourism industry in the Philippines, constant focus on store
network expansion and strategic initiatives are likely to provide ample growth opportunities to the
company. However, unforeseen circumstances, changing consumer preferences, and competition may
affect the company’s operations and financial performance.
Strength Weakness
Market Presence Operating Performance

In-Built Manufacturing and Logistics Capabilities
Liquidity Position
Solvency Position
Opportunity Threat
Constant Focus on Store Network Expansion Changing Consumer Preferences

Strategic Initiatives Unforeseen Circumstances
Growing Travel and Tourism Industry: Philippines Intense Competition
Growing Quick Service Restaurant (QSR) in
Philippines
Strength
Market Presence
The company’s strong market presence helps it to serve greater number of customers and enhances its
overall profitability. The company is the largest fast-food chain in the Philippines, which offers beverages
and desserts, breakfast foods, chicken, kid’s meal and snacks including burger, noodles, sandwiches and
sides. It also provides services including food delivery, event celebration and 24 hours food stores
services. It operates under various brands, including Jollibee, Chowking, Greenwich, Red Ribbon,
Yonghe King, Hard Rock Cafe, The Coffee Bean & Tea Leaf, Hong Zhuang Yuan, Mang Inasal, Burger
King, Highlands Coffee, Smashburger, SuperFoods, Dunkin’ Donuts, and Pho24. As on December 31,
2020, the company under Jollibee brand operated 1,184 stores in the Philippines, which includes 711
franchised and 473 company-owned stores. Its International operations include 294 stores, which include
86 franchised and 208 company-owned across the US, Canada, Guam, Italy, United Kingdom, Vietnam,
Brunei, Hong Kong, Singapore, Macau, Malaysia and the Middle East. It operated 571 stores under
Chowking brand, 273 stores under Greenwich brand, 495 under Reb Ribbon brand, 594 under Mang
Inasal, 354 under Yonghe King, 31 under Hong Zhuang Yuan, 237 under Smashburger, 1,071 under The
Coffee Bean & Tea Leaf.

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Jollibee Foods Corp
SWOT Analysis
In-Built Manufacturing and Logistics Capabilities
JFC operates commissaries or manufacturing plants worldwide that support the continued growth of its
retail chain. Of these, the company’s key manufacturing facilities are located Mandaue City, Cebu; and
the central site in Canlubang, Laguna. The Vismin Foods Corporation (VFC) in Mandaue City, Cebu
serves the Visayas and Mindanao areas. VFC features its own bread, sauce, pie and frozen patty lines.
The Laguna commissary is the largest and advanced in the Philippines and is operated by Zenith Foods
Corporation (ZFC), JFC’s wholly-owned subsidiary. The facility has production lines for marinated
Chicken Joy, breads, sauces, dry blended goods, frozen patties and pies, hotdogs and other meat
products. In addition, the company’s subsidiaries operate their own commissaries to manufacture their
respective specialty products. The Greenwich business operates its own commissary to manufacture
pizza and pasta; while Chinese dishes are manufactured at Chowking’s own commissary; cakes and
pastries at Red Ribbon’s commissary; grilled chicken and Filipino food items at Mang Inasal commissary;
and products for Burger King and Chinese food items for Yonghe King, Hong Zhuang Yuan in China. The
company conducts its logistics operations through JWS Logistics (JWSL). Besides delivering goods to
JFC stores, JWSL also offers services such as supply planning, warehousing, distribution, and customer
support and order management. JWSL operates distribution centers at various strategic locations. The
biggest distribution center located in Barangay Marcelo Green, Paranaque City serves as a major hub for
Metro Manila and South Luzon. In-built manufacturing and logistics capabilities enable the company to
cater to the needs of its customer base in an efficient manner. It also insulates JFC from various risks
associated with the dependence on third party sources for such operations.
Liquidity Position
The company reported improved liquidity in the FY2020, which enhances its growth and expansion plans.
The company reported 75.5% increase in its current assets, as compared to 12.5% decline in current
liabilities. Disproportionate growth in current assets and decline in current liabilities affects the working
capital and short-term liquidity of the company and lead to marginal improvement in its liquidity indicators
such as current ratio and quick ratio. For the FY2020, it reported current ratio of 1.35 times as against
0.67 times in FY2019, followed by quick ratio of 1.21 times as against 0.52 times in the previous year.
Such improved liquidity position indicates that the company is in a favorable financial position, and could
meet its short-term obligations and working capital requirements, without any difficulties. Thus, the
company would not be required to depend on any external sources to fund its operational flow.
Solvency Position
Strong solvency position indicates utilization of lower financial leverage and its comparatively higher
equity position, underlining the better creditworthiness of the company. The company recorded a debt-to-
equity ratio of 1.48 at the end of FY2020, compared to 1.72 at the end of previous year. In FY2020, the
company recorded 29.3% increase in total equity to PHP69,127.3 million, while its total debt increased
11.7% to PHP102,846.4 million at the end of review year.
Weakness

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Jollibee Foods Corp
SWOT Analysis
Operating Performance
Weak operating performance might impact investors’ confidence and the company’s ability to pursue
growth plans. JFC recorded weak operating performance in FY2020 during which it recorded revenue of
PHP129,313 million, compared to PHP179,626 million in the previous year, representing an annual
decline of 28%. The decline was primarily due to fall in revenue from food service, franchising, and
leasing by 27.1%, 40.2% and 37.4%, respectively in FY2020, owing to permanent and temporary closure
of stores, and lower sales per store, owing to COVID-19 pandemic. This decline in revenue led to fall in
operating income. In FY2020, the company reported operating loss of PHP12,811.5 million, compared to
operating income of PHP10,734.3 million in the previous year. The decline in operating income was also
due to 25.6% decline in general and administrative expenses to PHP23,754.2 million, from PHP18,906.7
million in the previous year.
Opportunity
Constant Focus on Store Network Expansion
JFC focuses excessively on expanding its store network. In May 2021, the company opened a new store
at Leicester Square, London. In January 2021, the company announced plans to open new 100 outlets of
Vietnamese restaurant PHO24 in Philippines. The openings will enable the company to expand PHO24
brand in the country. In December 2020, JFC opened its third store in Leicester City, the UK. In
September 2020, the company opened a new store in Liverpool, making it the second store in the UK. In
the same month, JFC opened new stores in Boston and New York, the US. In August 2020, the company
announced opening of a new store in West Plano, Texas, the US. In June 2020, the company announced
to open its first cloud kitchen in Chicago, Illinois, the US. In February 2020, the company announced its
plans to open 25 stores in the US and Canada. These opening will help the company to expand its
overseas presence. In the same month, the company introduced a new fast casual dining concept,
Tortazo. This new concept features Mexican food.
Strategic Initiatives
The company is taking up various strategic initiatives to expand its business. In February 2021, the
company partnered with Yoshinoya International Philippines, Inc. to form a joint venture in Philippines to
operate and expand the Yoshinoya brand in the country. The partners also announced plans to open 50
Yoshinoya stores in the Philippines. In September 2020, JFC introduced 24/7 delivery at select stores in
the Philippines. In August 2020, the company launched the Jollibee App, allowing customers to order
online through the app. The app also features a store locator, enabling customers to locate nearby stores
conveniently.
Growing Travel and Tourism Industry: Philippines
The company could benefit from the positive outlook for Philippines Travel and Tourism industry.
According to the World Travel and Tourism Council (WT&TC), the direct contribution of Philippines Travel
and Tourism industry is expected to reach PHP 2,547.8 billion in 2028. The industry's total contribution to
GDP is expected to reach PHP 6,240.6 billion in 2028. Visitor exports is expected to reach PHP665 billion

© MarketLine
Jollibee Foods Corp
SWOT Analysis
in 2028. Furthermore, rise in investments in Travel and Tourism industry is forecasted to reach PHP164.5
billion in 2028, which could boost activities within the Philippines Travel and Tourism industry.
Growing Quick Service Restaurant (QSR) in Philippines
The company could benefit from the growing QSR in Philippines. According to in-house report, the QSR
channel is the Philippines’ largest profit sector channel in terms of value. Sales value of QSR market is
expected to reach PHP364,497 million by the end of 2023. Growth is expected to be augmented by
increasing transactions and growth in outlets. The number of transactions is expected to reach 3,254
million in 2023. Increasing transactions will be the result of increasing foot traffic. The number of
foodservice outlets in Philippines is expected to reach 50,910 in 2023.
Threat
Changing Consumer Preferences
The foodservice industry is an ever changing segment with varied consumer preferences. Consumer
preferences may vary with changing tastes, dietary concerns and trends. The company should anticipate
and offer products that appeal according to the changing preference of consumers. If the company fails to
respond to such changes, the demand for its products could decline, affecting its operations. The
company has to remain up-to-date with consumer tastes and latest trends to maintain and expand its
market position. Failing to capture the latest consumer trends may result in loss of customers to the
company.
Unforeseen Circumstances
The company’s operations could be affected by unfavorable events. The occurrence of Coronavirus,
Ebola virus, swine flu, SARS, mad cow disease and bird flu resulted in a decline in tourist arrivals in the
affected countries. Precautionary measures such as flight suspensions affected the leisure market.
Natural disasters such as powerful storms in California in January 2021, the powerful Typhoon Ulysses in
Philippines in November 2020, flooding in South Korea in August 2020, and in India in February 2021,
bushfires in Australia in January 2020, flooding in western Japan in July 2019, reduced the revenue of
industry operators. Similar incidents may also lead to people reducing the frequency of their travel to
certain countries. Terrorist attack in Jammu and Kashmir in February 2021 and the rise of new terrorist
groups such as Islamic State of Iraq and Syria (ISIS) raised security concerns worldwide.
Intense Competition
The QSR industry in which the company primarily operates is highly competitive. JFC competes with
various international QSR chain operators; burger, pizza and pasta chains; grilled chicken and Filipino
restaurants; Chinese fast-food restaurants; and bakeshops. Major competitive factors include food
quality, price, service and store cleanliness. JFC’s key competitors include McDonald's Corporation,
Wendy’s Food Corp, Domino’s Pizza Inc, and Yum China Holdings Inc. These competitors have
significantly huge financial resources and geographic presence compared to the company. In terms of
these factors, JFC’s competitors will be able to offer their products and services at competitive prices,

© MarketLine
Jollibee Foods Corp
SWOT Analysis
which might not be possible for the company due to its lack of scale. In such cases, the company will be
at a competitive disadvantage. This, in turn, affects its sales and margins.

© MarketLine
Jollibee Foods Corp
Top Competitors
Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Jollibee Foods Corp
Domino's Pizza Inc

McDonald's Corp
Papa John's International Inc
Wendy’s Food Corp
Yum China Holdings Inc

© MarketLine
Jollibee Foods Corp
Company View
Company View
COMPANY VIEW
A values, vision and mission of the company is given below. The statement has been taken from the
company’s website.
Values
- Customer Focus
- Speed with Excellence
- Humility to Listen and Learn
- Spirit of Family and Fun
- Integrity
Vision
To be one of the Top 5 Restaurant Companies in the World
- All our brands are trusted and well-loved, craved around the world:
* Renowned for consistently great tasting food.
* Recognized for high value for money.
* Endeared for warm and sincere distinct service to our customers.
* Admired for our beautiful stores in excellent location.
- We are acknowledged as one of the Best Companies to Work for, regarded for our efficient systems and
processes, highly engaged teams and people-focused culture.
Mission
- To serve great tasting food, bringing the joy of eating to everyone

© MarketLine
Jollibee Foods Corp
Locations And Subsidiaries
LOCATIONS AND SUBSIDIARIES
Head Office
Jollibee Foods Corp

10/F Jollibee Plaza Building
Emerald Ave., Ortigas Center
Pasig
Pasig
PHL
Phone:63 63 41111
Fax:63 2 86341111
www.jollibee.com.ph
Other Locations and Subsidiaries
6000 Jefferson BH LLC Bee Good! Inc

USA USA
Bee Good! Incorporated Bee World Spain Sociedad Limitada
PHL ESP
Bee World UK Limited Beijing Golden Coffee Cup Food & Beverage
GBR Management Co., Ltd
CHN
Beijing New Hongzhuangyuan Food and Beverage Beijing Yong He King Food and Beverage Co., Ltd
Management Co., Ltd CHN
CHN
Belmont Enterprises Ventures Limited BK Titans, Inc.
GBR Quezon
Quezon
PHL
Blue Sky Holdings (Macau) Limited Blue Sky Holdings Limited
MAC HKG
Blue Sky Holdings Ltd CBTL Franchising LLC
British Virgin Islands USA
British Virgin Islands
GBR
CBTL Ventures LLC Centenary Ventures Ltd
USA British Virgin Islands
GBR
Chanceux, Inc. Chow Fun Holdings, LLC
PHL 221 Otero Street

© MarketLine
Jollibee Foods Corp
Santa Fe
Santa Fe
USA
Phone:1 505 820-0220
Chowking Food Corporation USA Cibo Felice S.R.L.
USA ITA
Donut Magic Phils., Inc. Freemont Foods Corporation
PHL 6Th Floor
Jollibee Plaza, No. 10 Emerald Avenue, Ortigas Centre
Pasig
Manila
Pasig
Manila
PHL
Fresh N’ Famous Foods, Inc. Golden Beeworks Pte. Ltd.
PHL SGP
Golden Cup Pte.Ltd Golden Piatto Pte. Ltd
SGP SGP
Golden Plate Pte. Ltd. Goldstar Food Trade and Service Company Ltd
SGP VNM
Grandworth Resources Corporation Guangxi San Pin Wang Food and Beverage
PHL Management Company Limited
CHN
Hangzhou Yong He King Food and Beverage Co., Ltd Hangzhou Yongtong Food and Beverage Co., Ltd.
CHN CHN
Happy Bee Foods Processing (Anhui) Co. Ltd Happy Bee Foods Processing Pte. Ltd.
CHN CHN
Happy Bee Foods Processing Pte., Ltd. Highland Coffee Service Joint- stock Company
SGP VNM
Honeybee Foods (Canada) Corporation Honeybee Foods Corporation
CAN 16125 East Valley Boulevard
City of Industry
California 91744
USA
Fax:1 626 369 5254
Hong Yun Hong (Shanghai) Food and Beverages Ice Cream Copenhagen Phils., Inc.
Management Company Ltd PHL
CHN
IConnect Multi Media Network, Inc. International Coffee & Tea, LLC
USA 5700 Wilshire Boulevard
Suite 120
Los Angeles
California 90049
USA

© MarketLine
Jollibee Foods Corp
Phone:1 323 931 4948

http://www.coffeebean.com
Java Ventures LLC JC Properties & Ventures Co.
USA PHL
Jollibee (China) Food & Beverage Management Co. Jollibee (Hong Kong) Limited
Ltd HKG
CHN
Jollibee Foods Corporation Jollibee International (BVI) Ltd
GBR
Jollibee USA Jollibee Vietnam Corporation Ltd
USA VNM
Jollibee Worldwide Pte. Ltd JSF Investments Pte Ltd.
SGP SGP
Magnificent Coffee Trading Pte Ltd Mang Inasal Philippines, Inc.
SGP 2316 Aurora Boulevard
Pasay City
Metro Manila
Pasay City
Metro Manila
PHL
www.manginasal.com
Mary’s Foods Corporation PERF MOA Philippines
PHL PHL
PERF Trinoma PERF Trinoma Philippines
PHL PHL
PFN Holdings Corp PFN Holdings Corporation
PHL PHL
Pho 24 Service Trade Manufacture Corporation Pho Viet Joint Stock Company
VNM VNM
PT Chowking Indonesia Indonesia QSR Builders, Inc.
IDN PHL
Quantum Corporation Red Ribbon Bakeshop Inc
VNM USA
Red Ribbon Bakeshop Inc Regional Operating Headquarters of JWPL
29th Floor PHL
Jollibee Plaza, F. Ortigas Jr. Road
Pasig
Metro Manila
Pasig
Metro Manila
PHL
Phone:63 2 8987777

© MarketLine
Jollibee Foods Corp
www.redribbonbakeshop.com.ph
RRB Holdings Inc SF Vung Tau Joint Stock Company
PHL VNM
Shanghai Belmont Enterprises Management and Shenzhen Yong He King Food and Beverage Co Ltd
Adviser Co., Ltd. CHN
CHN
Shenzhen Yong He King Food and Beverage Co., Ltd. Sino Ocean Limited Hong Kong
PRC HKG
CHN
SJBF LLC Southsea Binaries Ltd
GBR
Southsea Binaries Ltd. Super Magnificent Coffee Company Hungary Kft
PHL HUN
Super Magnificent Coffee Company Ireland Limited Super Magnificent Coffee Company Pte Ltd
IRL SGP
The Coffee Bean & Tea Leaf The Coffee Bean & Tea Leaf (Malaysia) Sdn Bhd
USA MYS
The Coffee Bean & Tea Leaf (Singapore) Pte Ltd Tianjin Yong He King Food and Beverage Co Ltd
SGP CHN
Tianjin Yong He King Food and Beverage Co., Ltd. Tim Ho Wan
PRC HKG
CHN Phone:852 65 69550188
www.timhowan.com
Tokyo Teriyaki Corporation Wuhan Yong He King Food and Beverage Co Ltd
USA CHN
Wuhan Yong He King Food and Beverage Co., Ltd. Yong He Holdings Co Ltd
PRC British Virgin Islands
CHN British Virgin Islands
GBR
Yong He Holdings Co., Ltd. BVI Zenith Foods Corporation
GBR 103 Prosperity Ave
Laguna
Calamba
Calamba
PHL
https://www.zenithfoodsolutions.com/

© MarketLine
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Jollibee Foods Corp

REFERENCE CODE: 329EF5C8-1D6C-4ED0-AB20-0B78BFEA59A5

Company Overview ........................................................................................................3

Jollibee Foods Corp Page 2

Head Office Jollibee Foods Corp

Jollibee Foods Corp Page 3

Jollibee Foods Corp Page 4

In February, the company opened its first restaurant in West Malaysia.

Jollibee Foods Corp Page 5

In August, the company announced its plans to acquire Tim Ho Wan.

Jollibee Foods Corp Page 6

In September, the company introduced 24/7 delivery at select stores in Philippines.

Jollibee Foods Corp Page 7

Jollibee Foods Corp Page 8

In December, the company opened a new store in Saskatchewan, Canada.

In November, the company announced to open Tim Ho Wan restaurants in China.

Jollibee Foods Corp Page 9

In July, Jollibee announced its plans to open a restaurant in Vietnam.

In April, Jollibee announced its open its first location in China.

Jollibee Foods Corp Page 10

In August, Jollibee opened its store in Mississauga, Canada.

Jollibee Foods Corp Page 11

Jollibee Foods Corp Page 12

Jollibee Foods Corp Page 13

Business / Operations Closure

The company signed an agreement to acquire 54% stake in BK Titans Inc.

Jollibee Foods Corp Page 14

Grandworth, a wholly-owned subsidiary of the company, established IConnect Multimedia Network, a

Jollibee Foods Corp Page 15

Chowking Food, a surviving entity, was renamed as Fresh N’ Famous Foods.

Jollibee Foods Corp Page 16

The company established The Jollibee Group Foundation

The company opened its first store in the US in California.

JFC opened its first store in Hong Kong during 1996.

The company was listed on the Philippines Stock Exchange in 1993.

Jollibee Foods Corp Page 17

JFC was incorporated in 1978.

JFC was established in 1975.

Jollibee Foods Corp Page 18

Name Job Title Board

Jollibee Foods Corp Page 19

William Tan Untiong Director, Corporate Secretary Executive Board

Jollibee Foods Corp Page 20

Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Tony Tan Caktiong

Jollibee Foods Corp Page 21

Daniel Rafael Ramon Z. Gomez III

Jose Ma. A. Minana, Jr.

Jollibee Foods Corp Page 22

Major Products & Services

MAJOR PRODUCTS & SERVICES

Express delivery service

Jollibee Foods Corp Page 23

Market Presence Operating Performance

Constant Focus on Store Network Expansion Changing Consumer Preferences

Jollibee Foods Corp Page 24

In-Built Manufacturing and Logistics Capabilities

Jollibee Foods Corp Page 25

Constant Focus on Store Network Expansion

Growing Travel and Tourism Industry: Philippines

Jollibee Foods Corp Page 26

Growing Quick Service Restaurant (QSR) in Philippines