Philippines' Jollibee earns over $16 mln from fried chicken, coffee chains in Vietnam in Q1
The Philippines’ Jollibee Foods Corporation (JFC) earned an EBITDA (earnings before interest, taxes, depreciation, and amortization) of over PHP1 billion ($16.2 million) from its fried chicken chain Jollibee and Highlands Coffee chains in Vietnam in Q1/2026.
Specifically, JFC earned nearly PHP692 million ($11.21 million) from Highlands Coffee in Q1, up 9% year-on-year and making up over 34% of the Philippines corporation’s coffee-tea earnings.
The figure marked the best quarterly result since Q3/2023 when JFC began disclosed separate earnings of the coffee chain.
A Highlands Coffee store in Vietnam. Photo courtesy of the chain.
The company also noted that Highlands Coffee shrunk its store network to 1,011 outlets in Vietnam, including 876 co-owned stores and 135 franchised facilities. In January-March, the firm launched an additional five stores and shut down 31 outlets.
Meanwhile, EBITDA from Jollibee Vietnam surged 46.1% year-on-year to PHP313 million ($5.07 million) in Q1.
Founded in 1999 in Hanoi as a packaged coffee brand, Highlands entered the coffee business in 2002 with its first shop in Ho Chi Minh City and has since expanded aggressively. JFC acquired the chain in 2012 with a controlling 60% stake.
According to a March filing by Jollibee to the Philippine Stock Exchange, the Highlands Coffee board is evaluating a potential IPO with a target listing timeline by Q1/2027. The company did not disclose the expected size of the offering.
“Highlands Coffee stands out as one of the most attractive growth and value creation stories within the company’s portfolio, reflecting both strategic M&A success and post-acquisition organic expansion,” Jollibee said in the statement. “The proposed IPO is intended to support Highlands Coffee’s next phase of growth.”
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