Jollibee Foods Corporation’s (“JFC” or the “Company”) core business is the development, operation and franchising of its quick-service restaurant brands. It offers a wide variety of affordable and delicious dishes and great tasting food prepared to satisfy customers of all ages and from all walks of life.
Food quality, service, price-value relationship, store location and ambience, and efficient operations continue to be critical elements of the Company’s success in the quick-service restaurant industry.
JOLLIBEE FOODS CORPORATION doing business under the name and style of Jollibee (formerly Jollibee Foods Corporation) was incorporated in the Philippines and registered with the Philippine Securities and Exchange Commission (SEC) on January 11, 1978. The Parent Company and its subsidiaries (collectively referred to as “the Jollibee Group”) and affiliates are involved primarily in the development, operations and franchising of quick service restaurants (QSRs) under the trade names “Jollibee”, “Chowking”, “Greenwich”, “Red Ribbon”, “Yong He King”, “Hong Zhuang Yuan”, “Mang Inasal”, “Burger King”, “Highlands Coffee”, “Pho24”, “Hard Rock Cafe”, “Dunkin’ Donuts”, “Smashburger”, “Tim Ho Wan” and “Tortas Frontera”. The other activities of the Jollibee Group include manufacturing and property leasing in support of the quick service restaurant systems and other business activities.
JFC operates the largest food service network in the Philippines. As of June 30, 2019, it was operating 3,195 restaurant outlets in the country: Jollibee brand 1,163, Chowking 590, Greenwich 284, Red Ribbon 479, Mang Inasal 577, Burger King 101 and PHO24 1. Abroad, it was operating 1,418 stores: Yonghe King (China) 323, Hong Zhuang Yuan (China) 45, Dunkin’ Donuts (China) 9, Jollibee 238 (Vietnam 118, Brunei 17, Hong Kong 8, Singapore 7, Macau 1, Malaysia 1, United States 37, Canada 4, Saudi Arabia 13, UAE 14, Qatar 7, Kuwait 6, Bahrain 1, Oman 1, Italy 1, United Kingdom 1, and Guam 1), Red Ribbon in the US 31, Chowking 47 (US 15, UAE 21, Qatar 4, Oman 2, Kuwait 3, and Saudi Arabia 2), Highlands Coffee 340 (Vietnam 297, and Philippines 43), PHO24 34 (Vietnam 18, Indonesia 16), Hard Rock Cafe 6 (Vietnam 2, Hong Kong 3, and Macau 1); and, Smashburger 345. The JFC Group’s worldwide store network reached 4,613 stores.
JFC is also committed to serve its host communities through socio-civic projects through the Jollibee Group Foundation. The foundation has focused its work on feeding programs for undernourished children in poor communities, developing farmers to become better entrepreneurs and suppliers of agricultural products and providing disaster relief for calamity-stricken regions.
Jollibee Foods Corporation has grown brands that bring delightful dining experience to its customers worldwide, “Spreading the joy of eating to everyone.”
Jollibee opens its milestone 900th store at Palo, Leyte
The Jollibee Family Values Awards marks its 5th year
Jollibee partners with DOT for Visit the Philippines Tourism campaign
Jollibee holds the Jollitown Funtasy Land
Jollibee celebrates the 20th milestone year of Maaga ang Pasko
Jollibee mounts the Family Bee Day – largest nationwide and simultaneous Family picnic event
To be one of the Top 5 Restaurant Companies in the World
To serve great tasting food, bringing the joy of eating to everyone.
Through the years, JFC has formed its foundation from good business practices and strong core values of Customer Focus, Speed with Excellence, Integrity, Spirit of Family and Fun, Humility to Listen and Learn. JFC continues its steadfast commitment in upholding these core values:
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Customer focus
Speed with Excellence
Humility to Listen and Learn
Spirit of Family and Fun
Integrity
Tony Tan Caktiong (Chairman)
Ernesto Tanmantiong
William Tan Untiong
Joseph C. Tanbuntiong
Ang Cho Sit
Antonio Chua Poe Eng
Ret. Chief Justice Artemio Panganiban
Cesar V. Purisima (independent director)
Cezar P. Consing (independent director)
Ernesto Tanmantiong – President and Chief Executive Officer
Joseph Tanbuntiong – Treasurer
William Tan Untiong – Corporate Secretary
Ysmael V. Baysa – Chief Financial Officer
Daniel Rafael Ramon Z. Gomez III – Chief Marketing Officer
Arsenio M. Sabado – Chief Human Resources Officer
Ownership Structure
As of October 31, 2014
Number of Issued and Outstanding Shares | 1,078,971,014 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,062,523,674 |
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Number of Foreign-Owned Shares | 319,831,501 |
Foreign Ownership Level (%) | 30.10 % |
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Top 20 Shareholders
As of October 31, 2014
Stockholder Name | Total Direct &Indirect Shares | Percentage of Ownership | |
---|---|---|---|
1 | PCD Nominee Corporation (Non-Filipino) | 318,696,163 | 29.99% |
2 | Hyper Dynamic Corporation | 273,218,750 | 25.71% |
3 | Honeysea Corporation | 127,743,747 | 12.02% |
4 | PCD Nominee Corporation (Filipino) | 77,473,833 | 7.29% |
5 | Winall Holding Corporation | 54,140,736 | 5.10% |
6 | Honeyworth Corporation | 40,050,453 | 3.77% |
7 | Kingsworth Corporation | 29,168,935 | 2.75% |
8 | Centregold Corporation | 27,430,964 | 2.58% |
9 | Gemma Tanbuntiong | 21,910,601 | 2.06% |
10 | Venice Corporation | 17,423,735 | 1.64% |
11 | A-Star Holding Corporation | 16,920,393 | 1.59% |
12 | Azucena T. King | 10,491,199 | 0.99% |
13 | Tony Tan Caktiong | 8,994,565 | 0.85% |
14 | William Tan Untiong | 7,293,055 | 0.69% |
15 | Longshore Corporation | 5,260,184 | 0.50% |
16 | Ernesto Tanmantiong | 5,200,970 | 0.49% |
17 | Paul Rosenberg | 1,000,460 | 0.09% |
18 | Susana Tanmantiong | 782,857 | 0.07% |
19 | Masancay, Anastacia | 746,000 | 0.07% |
20 | Baysa, Ysmael | 511,667 | 0.05% |
Total | 1,044,459,267 | 98.30% | |
Others | 18,064,407 | 1.70% | |
Total Issued and Outstanding | 1,078,971,014 | ||
Treasury Shares ( per SEC 11-C) | 16,447,340 | 1.55% | |
Total Issued and Outstanding* | 1,062,523,674 | 100.00% | |
*(net of Treasury Shares) |
Ownership Structure
As of November 30, 2014
Number of Issued and Outstanding Shares | 1,083,149,530 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,702,190 |
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Number of Foreign-Owned Shares | 323,231,891 |
Foreign Ownership Level (%) | 30.30 % |
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Top 20 Shareholders
As of November 30, 2014
Stockholder Name | Total Direct &Indirect Shares | Percentage of Ownership | |
---|---|---|---|
1 | PCD Nominee Corporation (Non-Filipino) | 322,096,553 | 30.20% |
2 | Hyper Dynamic Corporation | 273,218,750 | 25.61% |
3 | Honeysea Corporation | 127,743,747 | 11.98% |
4 | PCD Nominee Corporation (Filipino) | 78,373,037 | 7.35% |
5 | Winall Holding Corporation | 54,140,736 | 5.08% |
6 | Honeyworth Corporation | 39,880,713 | 3.74% |
7 | Kingsworth Corporation | 29,168,935 | 2.73% |
8 | Centregold Corporation | 27,430,964 | 2.57% |
9 | Gemma Tanbuntiong | 21,910,601 | 2.05% |
10 | Venice Corporation | 17,423,735 | 1.63% |
11 | A-Star Holding Corporation | 16,920,393 | 1.59% |
12 | Azucena T. King | 10,491,199 | 0.98% |
13 | Tony Tan Caktiong | 8,994,565 | 0.84% |
14 | William Tan Untiong | 7,293,055 | 0.68% |
15 | Longshore Corporation | 5,260,184 | 0.49% |
16 | Ernesto Tanmantiong | 5,200,970 | 0.49% |
17 | Paul Rosenberg | 1,000,460 | 0.09% |
18 | Susana Tanmantiong | 782,857 | 0.07% |
19 | Masancay, Anastacia | 746,000 | 0.07% |
20 | Baysa, Ysmael | 511,667 | 0.05% |
Total | 1,048,589,121 | 98.30% | |
Others | 18,113,069 | 1.70% | |
Total Issued and Outstanding | 1,083,149,530 | ||
Treasury Shares (per SEC 11-C) | 16,447,340 | 1.55% | |
Total Issued and Outstanding* | 1,066,702,190 | 100.00% | |
*(net of Treasury Shares) |
The Board of Directors, Management and employees of Jollibee Foods Corporation commit themselves to the principles and best practices contained in its Manual on Corporate Governance and acknowledge that the same may guide the attainment of the Company’s values, mission and vision.
New Manual on Corporate Governance May 2017
The Company’s Code of Ethics and Business Conduct is rooted in its strong core values of honesty, integrity, trust and excellence. The Company endeavours to maintain the highest standards of business ethics as well as full compliance with all relevant laws, rules and regulations. As such, it ensures that a system is in place which will enable all stakeholders: employees, vendors, franchisees, suppliers and other external stakeholders, to submit reports, complaints, or any other information regarding any fraudulent, illicit or unethical activity in an anonymous and confidential manner, without fear of reprisal.
The Company observes honesty and integrity in its dealings with all of its stakeholders: government, customers, business partners, employees and the general public. The Company conducts its business and performs its duties with uncompromising integrity and professionalism. The Company considers its franchisees, lessors, suppliers, service providers and other outside parties as its valued partners in the Company’s growth. The Company equally treats all its customers with respect and courtesy.
The Company’s Code of Business Ethics and Code of Discipline have been disseminated to all directors, senior management and employees and all levels in the Company are responsible for and required to administer the Code of Business Ethics, including investigating alleged violations and determining corrective actions.
JFC Integrated Annual Corporate Governance Report for the year ended December 31 2019
Integrated Annual Corporate Governance Report for the year ended December 31, 2017 – May 29, 2018
Consolidated Changes and Updates in the ACGR for 2016 as of March 27, 2017
Consolidated Changes and Updates as of April 13, 2016
Consolidated Changes and Updates as of January 8, 2016
Consolidated Changes and Updates as of August 26, 2015
Consolidated Changes and Updates in the ACGR for 2014
For detailed discussion, please click on the following link: New Manual on Corporate Governance and refer to Article 4: Board Governance.
Executive Committee – The Board of Directors constituted the Executive Committee for purposes of delegating to it such powers and functions as the Board may exercise, subject to limitations under applicable laws.
Nomination Committee – The Board of Directors constituted the Nomination Committee for purposes of installing and institutionalizing a process to pre-screen and shortlist all candidates nominated to become a member of the Board of Directors in accordance with the qualifications and/or disqualifications as described in the Company’s Corporate Governance Manual, By-Laws, and all applicable laws.
Compensation Committee – The Board of Directors constituted the Compensation Committee for purposes of establishing a formal and transparent procedure for developing a policy on executive remuneration and ensuring that compensation and benefit programs of corporate officers, directors, senior management and other key personnel are consistent with the Company’s culture, strategy and control environment.
Audit Committee – The Board of Directors constituted the Audit Committee for purposes of providing oversight on the integrity of financial reporting process, internal controls, the audit process, and the Company’s process of monitoring compliance with laws and regulations.
Corporate Governance Committee -The Board of Directors constituted the Corporate Governance Committee for purposes of overseeing the implementation, including periodic review, of the corporate governance framework of the Company to ensure that it remains appropriate in light of material changes to the Company’s size, complexity and business strategy, as well as its business and regulatory environments.
The Company upholds the continuous education, training and development of its directors and officers. In compliance with SEC Memorandum Circular No. 2, series of 2015, as amended by SEC Memorandum Circular No. 19, series 0f 2016, all key officers and directors of the Company shall attend a minimum of four (4) hours of corporate governance training every year conducted by training providers that are duly accredited by the Securities and Exchange Commission.
2019
2017
2016
2015
2014
Going Beyond Customer Service
Jollibee Foods Corporation (JFC) is no stranger to great service. In fact, it’s an operations cornerstone instilled in every employee and manager. But these days, it’s a new kind of service that has the Company abuzz.
It’s called public service—service that goes beyond the Company’s interests and wholly focused on making a measurable difference in the lives of Filipinos. Over the past years, JFC has been involved in numerous social projects such as feeding malnourished children in partnership with Kabisig ng Kalahi; getting children to read and love books with Sa Aklat Sisikat; promoting values to children and the youth with DepEd; and sharing blessings through the annual Christmas toy and book drive, Maaga ang Pasko.
Going Beyond Giving
Although JFC’s commitment to corporate social responsibility was boosted by their involvement in these projects, Chairman of the Board Mr. Tony Tan Caktiong and the rest of the JFC leadership knew that to do lasting good, they had to organize their giving and make it more strategic. A paradigm shift took place: corporate giving had now evolved into social partnership.
“Other than our food offerings, we are also committed to excellent service in the communities where we operate. We have harnessed the Company’s strengths and values and applied it in crafting and sustaining innovative programs that contribute to the socio-economic growth of the country,” Tan Caktiong explained.
The Jollibee Group Foundation was established in December 2004 with a mission to invest in people and help them succeed—in the way Jollibee knows how. This meant taking the values, the system, the tools, and the years of experience that made Jollibee what it is today and sharing it with the people they most ascribe their very successes to: the everyday Filipino.
Going Beyond Success
The Foundation’s challenge was to take all the elements that has contributed to the Company’s success and apply it to the communities and social enterprises that can benefit from it. Over the years, it has actively led nation-building efforts such as the Farmer Entrepreneurship Program (FEP), Busog, Lusog, Talino School Feeding Program (BLT), Project ACE Scholarships, and FoodAID.
As a result, and with the help of various partners, thousands of people and families across the country have come to benefit from JGF’s programs – from smallholder farmers through FEP, to undernourished schoolchildren through BLT, and underprivileged youth through Project ACE.
Join us in sharing joy to our communities. To know more about JFC’s corporate social responsibility activities, visit the Jollibee Group Foundation website.
The Company and its subsidiaries, in global growth and expansion, require a comprehensive approach to corporate risk management that promotes extensive strategic thinking and analysis, while fundamentally integrating and maintaining highest ethical standards in the Company’s core values and beliefs. Risk management will provide the organization with the superior capabilities to identify, assess and manage the risks and enable the organization and its employees, at all levels, to better understand and manage risks.
The Company and its subsidiaries are all in the quick-service restaurant sector. Quick-service restaurants like those maintained by the Company are expected to maintain high quality in terms of food, service and cleanliness (“FSC”). The Company responds by observing stringent guidelines, processes and procedures in its FSC, and conducting regular and spot audits to ensure that FSC standards are maintained not only in stores but also in commissaries. The Company has likewise instituted a system of incentives to reward excellent performance in terms of FSC by stores.
The Company’s directors and management periodically review the effectiveness of the Company’s risk management system.
The Company’s principal financial instruments comprise cash and cash equivalents and receivables. The main purpose of these financial instruments is to obtain financing for its operations. The Company has other financial assets and liabilities such as other noncurrent assets and trade payables and other current liabilities which arise directly from its operations.
The main risks arising from these financial instruments are credit risk and liquidity risk. The Company does not engage in any long-term debt and foreign currency-denominated transactions that may cause exposure to interest rate risk and foreign currency risk, respectively. The policies for managing each of these risks are summarized as follows:
Equity Price Risk
The Company is not exposed to significant equity price risk on its investment in quoted equity securities consisting of investment in club shares and shares of public utility companies.
Interest Rate Risk
Interest rate risk arises from the possibility that the fair value or future cash flows of financial instruments will fluctuate because of changes in market interest rates.
The Company’s interest rate exposure management policy centers on reducing the Company’s overall interest expense and exposure to changes in the interest rates.
To manage the interest rate risk related to the Company’s long-term debt, the Company uses a derivative instrument to fix the interest rate over the term of the debt.
There is minimal exposure on the other sources of Company’s interest rate risk. These other sources are from its cash in bank, short-term deposits, refundable deposits and employees’ car plan receivables.
Foreign Currency Risk
The Company’s exposure to foreign currency risk arises from the Parent Company’s investments outside the Philippines, which are mainly in People’s Republic of China and United States of America. While the foreign businesses have been rapidly growing, the net assets of foreign businesses account for only 10.84% and 15.57% of the consolidated net assets of the Company as at December 31, 2013 and 2012, respectively. Therefore, the total exposure to foreign exchange risk of the Company is still not significant.
The Company also has transactional foreign currency exposures. Such exposure arises from its Philippine operations’cash and cash equivalents, receivables and long-term debt in foreign currencies.
Credit Risk
Credit risk is the risk that a customer or counterparty fails to fulfill its contractual obligations to the Company. This includes risk of non-payment by borrowers and issuers, failed settlement of transactions and default on outstanding contracts.
The Company has a strict credit policy. Its credit transactions are with franchisees that have gone through rigorous screening before granting them the franchise. The credit terms are very short, while deposits and advance payments are also required before rendering the service or delivering the goods, thus, mitigating the possibility of non-collection. In cases of non-collection, defaults of the debtors are not tolerated; the exposure is contained the moment a default occurs and transactions that will increase the Company’s exposure are not permitted.
The Company has no significant concentration of credit risk with counterparty. Its franchisee profile is such that no single franchisee accounts for more than 5% of its total system wide sales.
Liquidity Risk
The Company’s exposure to liquidity risk refers to the risk that its financial liabilities are not serviced in a timely manner and that its working capital requirements and planned capital expenditures are not met. To manage this exposure and to ensure sufficient liquidity levels, the Company closely monitors its cash flows.
On a weekly basis, the Company’s Cash and Banking Team monitors its collections, expenditures and any excess/deficiency in the working capital requirements, by preparing cash position reports that present actual and projected cash flows for the subsequent week. Cash outflows resulting from major expenditures are planned so that money market placements are available in time with the planned major expenditure. In addition, the Company has short-term cash deposits and has available credit lines with accredited banking institutions, in case there is a sudden deficiency. The Company maintains a level of cash and cash equivalents deemed sufficient to finance the operations.
Capital Management
Capital includes equity attributable to equity holders of the Parent Company.
The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximize shareholder value. The Company has sufficient capitalization.
The Company generates cash flows from operations sufficient to finance its organic growth. It declares cash dividends representing about one-third of its consolidated net income, a ratio that would still leave some additional cash for future acquisitions. If needed, the Company would borrow money for acquisitions of new businesses.
The Company implements and upholds the following policies:
Conflict of Interest Policy
In business dealings with outside parties, the Company takes steps toward ensuring that it is not subject to any actual or apparent conflict of interest. Dealings with suppliers and service providers are observed in an impartial manner, without favour or preference, other than the best interest of the Company.
Absence of conflict of interest is among the qualifications considered by the Nomination Committee to determine the final list of candidates for directorships in the Board of Directors. The Company also has internal policies on conflict of interest which apply to senior management and to all employees.
Material Related Party Transactions Policy
Material Related Party Transactions Policy – October 22, 2019
It is the policy of Jollibee Foods Corporation (the “Company”) to uphold the integrity and transparency of related party transactions.[1] The Company shall conduct all material related party transactions, as defined under this Policy, on an arm’s length basis, in such manner that will inure to the best interest of the Company and its stakeholders and in compliance with existing laws, rules and regulations. Related party transactions shall be disclosed, reviewed and approved in accordance with this Policy, and any amendments thereto, consistent with the principles of transparency and fairness.
Insider Trading Policy
The Company observes the statutory rules and regulations pertaining to prohibition against insider trading. The Company submits the required reports to the regulatory agencies within three (3) business days from date of purchase or sale of Company’s shares by its directors or officers. Trading in the Company’s shares is prohibited two (2) trading days from submission of the Company’s disclosures. In practice, the trading prohibition is observed after the Board meeting approving the matter or after the disclosure (whichever is earlier).
Employee-Related Welfare and Benefits Policy
In addition to statutorily required benefits, employees are provided with healthcare benefits. The Company requires its employees to undergo internal training and encourages external training as and when related to an employee’s functions. Employees are provided with all benefits required under the law.
Whistle-blowing Policy
The Company endeavours to maintain the highest standards of business ethics, as well as full compliance with all relevant laws, rules and regulations. As such, it ensures that a system is in place which will enable all stakeholders to submit reports, complaints or any other information regarding any fraudulent, illicit or unethical activity in an anonymous and confidential manner, without fear of reprisal.
Dividend Policy
The Company declares dividends on a semi-annual basis and upon approval by the Board of Directors. The Jollibee Group has a cash dividend policy of declaring one-third of the Jollibee Group’s net income for the year as cash dividends. It uses best estimate of its net income as basis for declaring cash dividends.
In this digital age, social media has become a part of our everyday lives as we constantly connect with people and share experiences online. In this year’s annual report, we showcase the excitement and delight that our products bring our customers, moving them to share their joy online. Just as social media has found its way into our lives, Jollibee Foods Corporation products have, likewise, found their part in our customers’ everyday happiness.
2012 – Branding great taste.How do you brand great taste?A brand is like a person. It is truly unique. Its name clearly reminds of some things; to consumers – its benefits, its promise of high quality. Branding is about creating that identity. At Jollibee Foods Corporation, we create and serve great tasting food. Always, the food taste must be worthy of the brand name. Through concise and catchy taglines, we communicate to consumers the brands’ promise of high quality.
2011 – Drive to a greater future.Jollibe Foods Corporation (JFC) continues to create lasting and memorable moments with family and friends as it shares the joy of eating locally and around the world. With its store network exponentially growing in numbers, JFC has set its sights on bigger dreams for future expansions. JFC seizes the dream of putting up each brand in interesting key locations across the globe, to delight the diverse palates of the international market. Visualizing these aspirations with artistic renderings, JFC shares its imagination and bold dreams towards its Drive to A Greater Future.
2010 – Spreading the joy of eating to everyone.Sharing a meal is more than just dining on delicious food. It is about spending time with family, friends, and colleagues. Jollibee Foods Corporation (JFC) understands this and strives to make each dining moment a delightful experience. With its diverse variety of brands and food choices, JFC reaches a broad range of customers from different walks of life all over the word – truly spreading the joy of eating to everyone.
2009 – The Place is a BrandWhat makes a brand? More than just a name and a logo, a brand has character. It can be formal or playful, aged or young, traditional or modern, elaborate or simple. A good brand does not just deliver its benefits. It does so with distinctive style! The brands of Jollibee Foods Corporation serve great tasting, great value food. They provide dining experience in a place designed to delight in a way that is consistent with the brands’ character. In this annual report, we feature our restaurants showing the different personalities of our brands.
2008 – Growing by Adapting the Flavors of the WorldTHE WORLD IS GLOBAL, BUT ITS TASTES ARE LOCAL. People adapt foreign foods but change them to their tastes. This is natural. Taste preference along with those of aroma, texture, and presentation evolved over hundreds of years, influenced mainly by the kinds of plant and animal food that grow in their geography. Local preferences are hard to change.This presents challenges and opportunities for those serving food in many countries. They should understand and satisfy the local tastes. If they do, they would have new markets. Their array of cuisines and flavors would also expand, giving them even more chances to serve a wider variety of food to other peoples in other places. For Jollibee Foods Corporation, this is one of the meanings of “growth”.
In this digital age, social media has become a part of our everyday lives as we constantly connect with people and share experiences online. In this year’s annual report, we showcase the excitement and delight that our products bring our customers, moving them to share their joy online. Just as social media has found its way into our lives, Jollibee Foods Corporation products have, likewise, found their part in our customers’ everyday happiness.
Fastfood and casual dining has grown popular with the masses, quickly becoming an indispensable part of our urban environment. Likewise, in our society greatly influenced by popular culture, pop art has received interest with its fun and vibrant manifestations of our curiosities and activities; making it a perfect fit in presenting our accomplishments across brands and products.
This annual report showcases the flagship products of each of our brands. These are the products that our customers buy most, remember most and come back most for!
This annual report to our shareholders features how the people in our restaurants serve our customers with passion and excellence. This is how they bring to life the Company’s mission of “spreading the joy of eating to everyone”!
A brand is like a person. It is truly unique. Its name clearly reminds of some things; to consumers – its benefits, its promise of high quality. Branding is about creating that identity. At Jollibee Foods Corporation, we create and serve great tasting food. Always, the food taste must be worthy of the brand name. Through concise and catchy taglines, we communicate to consumers the brands’ promise of high quality.
Jollibe Foods Corporation (JFC) continues to create lasting and memorable moments with family and friends as it shares the joy of eating locally and around the world. With its store network exponentially growing in numbers, JFC has set its sights on bigger dreams for future expansions. JFC seizes the dream of putting up each brand in interesting key locations across the globe, to delight the diverse palates of the international market. Visualizing these aspirations with artistic renderings, JFC shares its imagination and bold dreams towards its Drive to A Greater Future.
Sharing a meal is more than just dining on delicious food. It is about spending time with family, friends, and colleagues. Jollibee Foods Corporation (JFC) understands this and strives to make each dining moment a delightful experience. With its diverse variety of brands and food choices, JFC reaches a broad range of customers from different walks of life all over the word – truly spreading the joy of eating to everyone.
What makes a brand? More than just a name and a logo, a brand has character. It can be formal or playful, aged or young, traditional or modern, elaborate or simple. A good brand does not just deliver its benefits. It does so with distinctive style! The brands of Jollibee Foods Corporation serve great tasting, great value food. They provide dining experience in a place designed to delight in a way that is consistent with the brands’ character. In this annual report, we feature our restaurants showing the different personalities of our brands.
THE WORLD IS GLOBAL, BUT ITS TASTES ARE LOCAL. People adapt foreign foods but change them to their tastes. This is natural. Taste preference along with those of aroma, texture, and presentation evolved over hundreds of years, influenced mainly by the kinds of plant and animal food that grow in their geography. Local preferences are hard to change.
This presents challenges and opportunities for those serving food in many countries. They should understand and satisfy the local tastes. If they do, they would have new markets. Their array of cuisines and flavors would also expand, giving them even more chances to serve a wider variety of food to other peoples in other places. For Jollibee Foods Corporation, this is one of the meanings of “growth”.
JOLLIBEE BEGAN WITH TWO ICE CREAM PARLORS in Manila in 1975. It became a formal business enterprise on January 11, 1978 with the establishment of Jollibe Foods Corporation. Since then, JFC had grown to become the largest food service company in the Philippines and one of Asia’s most promising food service enterprises.
Today, JFC operates more than 1,600 stores in the Philippines and 9 other countries with 8 brands: Jollibee, Chowking, Greenwich, Red Ribbon, Yonghe King, Delifrance, Chun Shui Tang and it’s latest addition Manong Pepe.
Even in its earliest years, Jollibee brand was not just about convenience and affordability in eating out. It has always been about great tasting food in a fun and wholesome place. It has a great place for celebrations
These qualities have become parts of the character of all brands in the Jollibee Group.
In 2008, Jollibee Foods Corporation is celebrating its 30th year of official existence. More meaningfully for its employees’ they are celebrating 30 years of doing a fine job og enhancing customer celebrations!
In this annual report, Jollibee Foods Corporation features customer celebrations patronizing our products in and outside of our stores.
When people look at our logos, what quickly comes to their minds? Most likely, images of Jollibees Chickenjoy and Yumburger, Chowking’s Chinese noodles, Greenwichs pizzas and pastas, Delifrance’s freshly-baked breads, Red Ribbon’s cakes and pastries, Yonghe Kings soy milk and dough sticks, and Chun Shui Tangs tea drinks. But logos aren’t simply about products. Logos, and the brands they represent remind people of the brands’ promises. Like a distinctive flavor, texture, juiciness and aroma of familiar food products; the liveliness, colorfulness, cleanliness and atmosphere of fun and customer delight in the dining place; the ready smile, warmth and courtesy of the store crew.
As a profound definition, a brand is a promise to a certain delightful experience. For this 2006 Annual Report, we take a closer look into the leader brands that make up the Jollibee Group. We invite our readers to take this journey with us, how we communicate the brands’ promise through effective marketing; and how we ensure that the brands’ promise is delivered always, and even betterthrough constant innovation and improvement in products, service and store design. This is our art of marketing. It helps explain why the Jollibee Group has become a group of leader brands. It gives more insight into why our brands keep on achieving superior performance in the market place.
Passionate dancers, a violinist, a nature lover, a church lector, an aspiring artist, a cyclist an extreme climber, a baseball player, an NGO volunteer, a rising star and a photography enthusiast. They are people in Jollibee Foods Corporation. They live theirs fully with their varied interests. But they are also ordinary people who enjoy the simplicities of life. The people of Jollibee Group are ordinary people. What makes them stand out are their characters and the values they apply in daily life.
Everyday, 1.7 million people enjoy our great tasting food in our happy and fun restaurants. When they stand before the counter, they already know more or less what they want: the crispy Chicken Joy in our Jollibee store, the rich flavored Halo-Halo dessert in Chowking, the Primo Pizza in Greenwich, the French Baguette in Delifrance, or the Deep Fried Dough Stick in Yonghe King. They want to repeat the delightful dining experience they have whenever they come to our restaurants.
On cover is 17-year old Miss Astrid Isidoro, a first-year college student in St. Paul University System in Quezon City, taking up Business Management.Like so many other people of various ages, she enjoys dining in restaurants run by Jollibee Group of Companies. Astrid represents the young population of the Philippines… and of Asia.
Ownership Structure
As of September 30, 2020
Number of Issued and Outstanding Shares | 1,124,145,610 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,107,698,270 |
---|
Ownership Structure
As of June 30, 2020
Number of Issued and Outstanding Shares | 1,124,145,610 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,107,698,270 |
---|
Ownership Structure
As of March 31, 2020
Number of Issued and Outstanding Shares | 1,115,852,936 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,099,405,596 |
---|
Ownership Structure
As of December 31, 2019
Number of Issued and Outstanding Shares | 1,113,550,270 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,097,102,930 |
---|
Ownership Structure
As of September 30, 2019
Number of Issued and Outstanding Shares | 1,113,532,103 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,097,084,763 |
---|
Ownership Structure
As of June 30, 2019
Number of Issued and Outstanding Shares | 1,109,976,003 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,093,528,663 |
---|
Ownership Structure
As of March 31, 2019
Number of Issued and Outstanding Shares | 1,108,927,619 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,092,480,279 |
---|
Ownership Structure
As of December 31, 2018
Number of Issued and Outstanding Shares | 1,104,500,155 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,088,052,815 |
---|
Ownership Structure
As of September 30, 2018
Number of Issued and Outstanding Shares | 1,104,459,371 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,088,012,031 |
---|
Ownership Structure
As of June 30, 2018
Number of Issued and Outstanding Shares | 1,103,382,871 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,086,935,53 |
---|
Ownership Structure
As of March 31, 2018
Number of Issued and Outstanding Shares | 1,103,061,807 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,086,614,467 |
---|
Ownership Structure
As of March 31,
Number of Issued and Outstanding Shares | 1,083,241,280 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,793,940 |
---|
Ownership Structure
As of March 31, 2015
Number of Issued and Outstanding Shares | 1,083,241,280 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,793,940 |
---|
Number of Foreign-Owned Shares | 308,477,173 |
Foreign Ownership Level (%) | style=”text-align: right;”>28.92 % |
---|
Ownership Structure
As of March 31, 2014
Number of Issued and Outstanding Shares | 1,083,241,280 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,793,940 |
---|
Number of Foreign-Owned Shares | 308,477,173 |
Foreign Ownership Level (%) | 28.92 % |
---|
Ownership Structure
As of October 31, 2014…
Number of Issued and Outstanding Shares | 1,078,971,014 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,062,523,674 |
---|
Number of Foreign-Owned Shares | 319,831,501 |
Foreign Ownership Level (%) | 30.10 % |
---|
Ownership Structure
As of November 30, 2014
Number of Issued and Outstanding Shares | 1,083,149,530 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,702,190 |
---|
Number of Foreign-Owned Shares | 323,231,891 |
Foreign Ownership Level (%) | 30.30 % |
---|
Ownership Structure
As of September 30, 2020
Number of Issued and Outstanding Shares | 1,124,145,610 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,107,698,270 |
---|---|
Number of Foreign-Owned Shares | 271,996,249 |
Foreign Ownership Level (%) | 24.56% |
Ownership Structure
As of June 30, 2020
Number of Issued and Outstanding Shares | 1,124,145,610 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,107,698,270 |
---|---|
Number of Foreign-Owned Shares | 277,977,809 |
Foreign Ownership Level (%) | 25.10 % |
Ownership Structure
As of March 31, 2020
Number of Issued and Outstanding Shares | 1,115,852,936 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,099,405,596 |
---|---|
Number of Foreign-Owned Shares | 275,227,170 |
Foreign Ownership Level (%) | 25.03 % |
Ownership Structure
As of December 31, 2019
Number of Issued and Outstanding Shares | 1,113,550,270 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,097,102,930 |
---|---|
Number of Foreign-Owned Shares | 283,023,889 |
Foreign Ownership Level (%) | 25.80 % |
Ownership Structure
As of September 30, 2019
Number of Issued and Outstanding Shares | 1,113,532,103 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,097,084,763 |
---|---|
Number of Foreign-Owned Shares | 282,811,307 |
Foreign Ownership Level (%) | 25.78 % |
Ownership Structure
As of June 30, 2019
Number of Issued and Outstanding Shares | 1,109,976,003 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,093,528,663 |
---|---|
Number of Foreign-Owned Shares | 291,317,818 |
Foreign Ownership Level (%) | 26.64 % |
Ownership Structure
As of March 31, 2019
Number of Issued and Outstanding Shares | 1,108,927,619 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,092,480,279 |
---|---|
Number of Foreign-Owned Shares | 303,365,316 |
Foreign Ownership Level (%) | 27.77 % |
Ownership Structure
As of December 31, 2018
Number of Issued and Outstanding Shares | 1,104,500,155 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,088,052,815 |
---|---|
Number of Foreign-Owned Shares | 301,790,562 |
Foreign Ownership Level (%) | 27.74 % |
Ownership Structure
As of September 30, 2018
Number of Issued and Outstanding Shares | 1,104,459,371 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,088,012,031 |
---|---|
Number of Foreign-Owned Shares | 299,690,203 |
Foreign Ownership Level (%) | 27.54 % |
Ownership Structure
As of June 30, 2018
Number of Issued and Outstanding Shares | 1,103,382,871 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,086,935,531 |
---|---|
Number of Foreign-Owned Shares | 304,301,275 |
Foreign Ownership Level (%) | 28.00 % |
Ownership Structure
As of March 31, 2018
Number of Issued and Outstanding Shares | 1,103,061,807 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,086,614,467 |
---|---|
Number of Foreign-Owned Shares | 308,751,789 |
Foreign Ownership Level (%) | 28.41 % |
Ownership Structure
As of December 31, 2016
Number of Issued and Outstanding Shares | 1,091,530,882 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,075,083,542 |
---|---|
Number of Foreign-Owned Shares | 292,185,637 |
Foreign Ownership Level (%) | 27.18 % |
Ownership Structure
As of September 30, 2016
Number of Issued and Outstanding Shares | 1,091,462,631 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,075,015,291 |
---|---|
Number of Foreign-Owned Shares | 302,477,655 |
Foreign Ownership Level (%) | 28.14 % |
Ownership Structure
As of June 30, 2016
Number of Issued and Outstanding Shares | 1,089,138,391 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,072,691,051 |
---|---|
Number of Foreign-Owned Shares | 309,521,992 |
Foreign Ownership Level (%) | 28.85 % |
Ownership Structure
As of March 31, 2016
Number of Issued and Outstanding Shares | 1,087,954,011 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,071,506,671 |
---|---|
Number of Foreign-Owned Shares | 313,987,095 |
Foreign Ownership Level (%) | 29.30% |
Ownership Structure
As of February 29, 2016
Number of Issued and Outstanding Shares | 1,086,142,394 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,069,702,937 |
---|---|
Number of Foreign-Owned Shares | 309,305,617 |
Number of Foreign-Owned Shares | 28.92% |
Ownership Structure
As of January 31, 2016
Number of Issued and Outstanding Shares | 1,086,142,394 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,069,695,054 |
---|
Number of Foreign-Owned Shares | 305,450,304 |
Foreign Ownership Level (%) | 28.55 % |
---|
Ownership Structure
As of December 31, 2015
Number of Issued and Outstanding Shares | 1,086,116,895 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,069,669,555 |
---|
Number of Foreign-Owned Shares | 306,810,170 |
Foreign Ownership Level (%) | 28.68 % |
---|
Ownership Structure
As of October 31, 2015
Number of Issued and Outstanding Shares | 1,086,090,161 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,069,642,821 |
---|
Number of Foreign-Owned Shares | 307,546,523 |
Foreign Ownership Level (%) | 28.75 % |
---|
Ownership Structure
As of September 30, 2015
Number of Issued and Outstanding Shares | 1,086,084,161 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,069,636,821 |
---|
Number of Foreign-Owned Shares | 304,668,693 |
Foreign Ownership Level (%) | 28.48 % |
---|
Ownership Structure
As of August 31, 2015
Number of Issued and Outstanding Shares | 1,086,084,161 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,069,636,821 |
---|
Number of Foreign-Owned Shares | 303,652,148 |
Foreign Ownership Level (%) | 28.39 % |
---|
Ownership Structure
As of July 31, 2015
Number of Issued and Outstanding Shares | 1,085,684,101 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,069,236,761 |
---|
Number of Foreign-Owned Shares | 306,376,538 |
Foreign Ownership Level (%) | 28.65 % |
---|
Ownership Structure
As of June 30, 2015
Number of Issued and Outstanding Shares | 1,084,325,099 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,067,877,759 |
---|
Number of Foreign-Owned Shares | 303,556,982 |
Foreign Ownership Level (%) | 28.43 % |
---|
Ownership Structure
As of May 31, 2015
Number of Issued and Outstanding Shares | 1,084,274,447 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,067,827,107 |
---|
Number of Foreign-Owned Shares | 306,556,897 |
Foreign Ownership Level (%) | 28.71 % |
---|
Ownership Structure
As of April 30, 2015
Number of Issued and Outstanding Shares | 1,083,263,447 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,816,107 |
---|
Number of Foreign-Owned Shares | 303,524,069 |
Foreign Ownership Level (%) | 28.45 % |
---|
Ownership Structure
As of March 31, 2015
Number of Issued and Outstanding Shares | 1,083,241,280 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,793,940 |
---|
Number of Foreign-Owned Shares | 308,477,173 |
Foreign Ownership Level (%) | 28.92 % |
---|
Ownership Structure
As of March 31, 2014
Number of Issued and Outstanding Shares | 1,083,241,280 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,793,940 |
---|
Number of Foreign-Owned Shares | 308,477,173 |
Foreign Ownership Level (%) | 28.92 % |
---|
Ownership Structure
As of October 31, 2014
Number of Issued and Outstanding Shares | 1,078,971,014 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,062,523,674 |
---|
Number of Foreign-Owned Shares | 319,831,501 |
Foreign Ownership Level (%) | 30.10 % |
---|
Ownership Structure
As of November 30, 2014
Number of Issued and Outstanding Shares | 1,083,149,530 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,702,190 |
---|
Number of Foreign-Owned Shares | 323,231,891 |
Foreign Ownership Level (%) | 30.30 % |
---|
Ownership Structure
As of December 31, 2014
Number of Issued and Outstanding Shares | 1,083,237,530 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,790,190 |
---|
Number of Foreign-Owned Shares | 322,260,599 |
Foreign Ownership Level (%) | 30.21 % |
---|
Ownership Structure
As of January 31, 2015
Number of Issued and Outstanding Shares | 1,083,237,530 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,790,190 |
---|
Number of Foreign-Owned Shares | 318,397,188 |
Foreign Ownership Level (%) | 29.85 % |
---|
Ownership Structure
As of February 28, 2015
Number of Issued and Outstanding Shares | 1,083,237,530 |
Treasury Shares | (16,447,340) |
Number of Outstanding Shares | 1,066,790,190 |
---|
Number of Foreign-Owned Shares | 315,282,198 |
Foreign Ownership Level (%) | 29.55 % |
---|
The Jollibee Group has a cash dividend policy of declaring one-third of the Jollibee Group’s net income for the year as cash dividends. It uses best estimate of its net income as basis for declaring cash dividends.
JFC Historical Cash Dividends
CASHDIVIDEND(In Pesos) | DECLARATIONDATE | EX-DATE | RECORDDATE | PAYMENTDATE | REMARKS |
---|---|---|---|---|---|
0.37 | 28-Apr-09 | 11-May-09 | 14-May-09 | 05-Jun-09 | |
0.48 | 05-Nov-09 | 18-Nov-09 | 23-Nov-09 | 15-Dec-09 | |
1.43 | 12-Apr-10 | 04-May-10 | 07-May-10 | 03-Jun-10 | Includes special cash dividend of P1.00 per share |
0.82 | 10-Nov-10 | 22-Nov-10 | 25-Nov-10 | 21-Dec-10 | Includes special cash dividend of P0.25 per share |
0.50 | 13-Apr-11 | 02-May-11 | 05-May-11 | 31-May-11 | |
0.57 | 04-Nov-11 | 17-Nov-11 | 22-Nov-11 | 16-Dec-11 | |
0.58 | 12-Apr-12 | 04-May-12 | 09-May-12 | 31-May-12 | |
1.62 | 12-Nov-12 | 27-Nov-12 | 03-Dec-12 | 19-Dec-12 | Includes special cash dividend of P1.00 per share |
0.65 | 11-Apr-13 | 02-May-13 | 07-May-13 | 30-May-13 | |
2.00 | 06-Aug-13 | 16-Sep-13 | 19-Sep-13 | 14-Oct-13 | Special cash dividend |
0.71 | 12-Nov-13 | 26-Nov-13 | 29-Nov-13 | 16-Dec-13 | |
0.75 | 07-Apr-14 | 05-May-14 | 08-May-14 | 30-May-14 | |
0.89 | 12-Nov-14 | 24-Nov-14 | 27-Nov-14 | 18-Dec-14 | |
0.80 | 07-Apr-15 | 4-May-15 | 7-May-15 | 29-May-15 | |
0.97 | 09-Nov-15 | 20-Nov-15 | 25-Nov-15 | 9-Dec-15 | |
0.86 | 06-April-16 | 18-April-16 | 21-April-16 | 06-May-16 | |
1.00 | 11-Nov-16 | 23-Nov-16 | 28-Nov-16 | 12-Dec-16 | |
1.00 | 5-Apr-17 | 17-Apr-17 | 21-Apr-17 | 5-May-17 | |
1.18 | 10-Nov-17 | 22-Nov-17 | 27-Nov-17 | 11-Dec-17 | |
1.14 | 6-Apr-18 | 19-Apr-18 | 23-Apr-18 | 9-May-18 | |
1.34 | 9-Nov-18 | 21-Nov-18 | 26-Nov-18 | 10-Dec-18 |
See all dividends declaration here
COMPANY HEADQUARTERS
10/F Jollibee Plaza Building
No. 10 F. Ortigas Jr. Avenue
Ortigas Center, Pasig City, Philippines 1605
Telephone: (632) 8634-1111
Website: www.jollibee.com.ph
COMMON STOCK
Jollibee’s common stock is listed and traded on the Philippine Stock Exchange with the ticker symbol “JFC”. It is one of the companies which comprise the PSE Composite Index.
STOCKHOLDERS’ INQUIRIES
Inquiries regarding dividend payments, account status, address changes, stock certificates and other pertinent matters may be addressed to the Company’s registrar and transfer agent:
Rizal Commercial Banking Corporation
Stock Transfer Office
Ground Floor, West Wing
Grepalife Building
221 Senator Gil Puyat Avenue
Makati City
Telephone: (632) 8-892-7566
INSTITUTIONAL INVESTOR INQUIRIES
Further information on Jollibee Foods Corporation is obtainable from the Investor Relations department. Please write or call:
Cossette B. Palomar
Investor Relations Assistant Vice President
Jollibee Foods Corporation
Telephone: (632) 8634-1111
Email: [email protected]