Angel thoughts
It has been a “jolly” year so far for homegrown Jollibee Group as it continues to sustain its growth momentum in the post-pandemic era. Last year, Jollibee Foods Corporation disclosed that it attained record-high business results by overcoming challenging macroeconomic headwinds, proving once again the strength of its business fundamentals and growth plans. Who can resist chicken joy anyway?
The Jollibee Group achieved a record-high operating profit of P9.9 billion for 2022, which is 58.4 percent higher than in 2021 and 6.5 percent better than its highest pre-pandemic operating income level of P9.3 billion. During Jollibee Foods Corporation’s annual stockholders meeting, Jollibee Group President and CEO Ernesto Tanmantiong shared updates on the company’s performance in 2022 and Q1 2023.
Jollibee Group’s overall sales grew significantly due to the easing of pandemic restrictions in key markets, continued network expansion, and strong same-store sales. Systemwide sales (SWS) in 2022 amounted to P296.8 billion—its highest-ever systemwide sales. Awesome, right?
Jollibee Group opened a total of 542 stores around the world, the majority of which were opened in international markets. This marks the third consecutive year of accelerated international store expansion and the highest number of overall store openings in a single year.
Jollibee Group President and CEO Ernesto Tanmantiong
Of this, Tanmantiong said, “Our success in 2022 has proven that by staying true to our mission of serving great-tasting food and bringing the joy of eating to everyone, a brighter, more joyful future is ahead of us.”
The Jollibee Group continued to deliver strong business results in quarter one of 2023, with an operating income of P3.6 billion and SWS of P78.6 billion, equivalent to an increase of 80.9 percent and 31.1 percent versus the previous year, respectively.
The Jollibee Group also opened 111 stores in the first quarter, on target for its full-year guidance of 550 to 600 stores for FY 2023. The Jollibee Group also reiterated its commitment to its Global Sustainability Agenda, Joy for Tomorrow, which aims to strengthen the company’s commitment to sustainable business practices focusing on the tri-pillars of Food, People, and Planet.
“We believe that we can only do well and continue to achieve great success by doing good, and that includes being more mindful of our impact on the world and helping the communities we operate in grow with us,” Tanmantiong declared.
As part of this agenda, Jollibee Group Foundation (JGF)’s Farmer Entrepreneurship Program (FEP) has enabled over 700 smallholder farmers to directly deliver their produce to Jollibee Group. A total of 834,000 kilos of vegetables were delivered by FEP farmer groups in 2022: adding to the over 9 million kilos of produce delivered since the program begun in 2009.
As the Jollibee Group celebrates its 45th year anniversary this year, Tanmantiong expressed his gratitude to shareholders, business partners, customers, and the JFC team for contributing to the company’s success.
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More good news! The 2023 CSR Expo—the much-anticipated annual Corporate Social Responsibility (CSR) event organized by the League of Corporate Foundations (LCF)—was successfully held last week, as part of the nationwide commemoration of National CSR Week, of which LCF is the lead.
Members of the League of Corporate Corporations at their conference
With over 200 attendees, the 21st edition of the CSR Expo brought together organizations from various sectors–corporate and private foundations, private sector, non-government organizations, civil society, academe, and government agencies–to expand networks, strengthen collaboration, and learn about the latest models, trends, and best practices in CSR.
This year’s theme of the CSR Expo, “From Extra to Essential,” acted as a continuation of last year’s theme and is a rallying cry for the business sector to lead and challenge the business sector to fully embody the principles of good corporate citizenship to achieve sustainability through accountable governance and strict compliance with legal requirements.
“The pandemic intensified issues of climate change and food security, and the need for disaster resilient communities. Significant future-ready education for Filipino children has also become a more pressing concern today than ever before,” observed Sebastian C. Quiniones, chair of the Board of Trustees of the LCF and executive director of Pilipinas Shell Foundation.
“We turn to CSR to help us integrate principles of sustainability and accountability in our everyday work. The 21st CSR Expo is taking last year’s theme forward to emphasize that good and accountable citizenship and environmental stewardship are imperative for organizations to drive change and to achieve long-term sustainability,” added Shem Jose Garcia, vice chair of the Board of Trustees of LCF and executive director of Vivant Foundation.
Refreshing news, indeed! We need more of these to inspire us in the coming days.