Philippines’ Jollibee earns $7.4 mln from fried chicken in Vietnam in Apr-Sept
The Philippines’ Jollibee Foods Corporation (JFC) earned an EBITDA (earnings before interest, taxes, depreciation, and amortization) of PDP435 million ($7.4 million) from its global fried chicken chain Jollibee in Vietnam in April-September.
In Q2 of this year, JFC earned PHP235 million ($4 million), up 42% year-on-year. In Q3, the EBITDA reached PHP200 million, up 8%.
Jollibee’s EBITDA in Vietnam was the highest in the Europe, Middle East, and Asia (EMEA) region, not including China and the Philippines.
A Jollibee store in Ho Chi Minh City, southern Vietnam. Photo courtesy of JFC.
JFC did not provide details for Q1 of this year in its quarterly reports. But the company highlighted that the same store sales growth (SSSG) in the EMEA region reached 10.5% in January-September, driven by a 14% increase in Vietnam.
On December 12, Jollibee opened its 200th Vietnam store in Ho Chi Minh City, marking a milestone after joining the Vietnamese market in 2005.
Highlands Coffee
Meanwhile, JFC reported that Highlands Coffee, a Vietnamese-style café chain, posted an EBITDA of PHP1,743 million ($29.8 million) in the first nine months of this year, up 2.9% year-on-year.
A Highlands Coffee store in Vietnam. Photo courtesy of Highlands Coffee.
Highlands Coffee made a hike in the nine-month period despite its Q3 EBITDA falling 4.8% to PHP568.9 million ($9.7 million), according to JFC’s financial statements. Highlands Coffee’s SSSG fell 5% year-on-year in January-September, JFC said.
JFC also noted that Highlands Coffee expanded its store network in the nine-month period to 815 in Vietnam and the Philippines, including 682 co-owned stores and 133 franchised units.
Highlands Coffee was founded by overseas Vietnamese citizen David Thai in 1999. In 2011, Jollibee acquired a stake in the chain before taking a controlling interest later.
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