Jollibee Group, a homegrown restaurant firm, was one of 38 Philippine companies listed in the inaugural Fortune Southeast Asia 500. Fortune, a multinational multi-platform media business recognized for its Fortune 500 list, has ranked the region’s largest companies based on total revenue for the fiscal year 2023. The Jollibee Group ranked 86th on the overall list, with a sales of USD4,391.1 million and a profit of USD157.7 million. It was also the ninth highest-ranked Philippine firm.
In 2023, Jollibee Group’s overall income increased by 15.2% year on year, reaching an all-time high of Php244.1 billion. The company also achieved a new record operating profit of Php14.4 billion, representing a 45% increase over the whole year 2022.
“Behind our business performance is our passionate commitment to providing truly delicious food coupled with exceptionally caring and warm customer service. Our recent inclusion in Fortune’s inaugural list of Southeast Asia 500 Companies reflects this deep commitment and inspires us to keep dreaming big and exceeding people’s expectations as a restaurant company,” said Ernesto Tanmantiong, Jollibee Group President and Chief Executive Officer.
“We dedicate this recognition to our teams and partners all over the world who share our passion and dedication to our mission of serving great-tasting food, bringing the joy of eating to everyone,” Tanmantiong added.
The Jollibee Group has a diverse portfolio of 18 brands with over 6,800 stores across 33 countries. Its brands include Jollibee, its flagship brand for chicken category; The Coffee Bean & Tea Leaf for coffee and tea; Tim Ho Wan for Chinese cuisine; and Smashburger for better burgers.
The Jollibee Group has set aggressive growth plans this 2024 and beyond, which includes expanding the Jollibee brand internationally, growing its coffee and tea business, exponentially growing its presence in China, and sustaining its robust growth and market leadership in the Philippines.
Inaugural Southeast Asia List
Companies named to the inaugural Southeast Asia 500 join an elite group of businesses recognized by the Fortune 500 franchise, which includes the original Fortune 500, the Fortune Global 500, the Fortune Europe 500, and the Fortune China 500.
“The Fortune Southeast Asia 500 represents a dynamic and rapidly changing region—one whose core economies are developing far faster than those of Europe or the United States. Southeast Asia’s importance in the global economy has grown significantly as a result of shifting supply chains and the region’s rapid economic development,” stated Clay Chandler, Executive Editor, Asia.
To learn more about Jollibee Group, visit www.jollibeegroup.com
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