Jollibee Reports EBITDA Profit of Over 400 Billion VND in 2024, a 20% Increase
The famous Filipino chicken chain, Jollibee, has revealed its profits in Vietnam for the first time in its 2024 annual report. According to the report by Jollibee Foods Corporation, the company operated 213 stores in Vietnam by the end of 2024, making it their second-largest market globally, just behind the Philippines.
Excluding their home market of the Philippines and China, Jollibee’s EBITDA in Vietnam was the highest among all their markets in Europe, the Middle East, and Asia (EMEA).
In Vietnam, another popular brand under Jollibee’s investment is Highlands Coffee, the largest coffee chain in the country with 850 stores. Highlands Coffee recorded an EBITDA of 2.34 billion pesos, equivalent to 1,050 billion VND, in 2024, a 4.5% increase compared to the previous year.
In comparison to its competitor, Lotteria from South Korea, Jollibee’s performance stands out.
Lotteria Vietnam: 250 Stores, Hundred Billion Loss
Lotteria is currently the largest chicken chain in Vietnam, with approximately 250 restaurants nationwide. According to the 2024 annual report of the Korean chaebol, Lotte, Lotteria Vietnam is a subsidiary of Lotte GRS, which handles Lotte’s food business.
Lotteria Vietnam, one of the largest chicken restaurant chains in the country, recorded a loss of 6,903 million won in 2024 and 5,616 million won in 2023, equivalent to 106.7 billion VND and 86.8 billion VND, respectively.
In 2022, the year after the COVID-19 peak when Vietnam reopened thanks to vaccine coverage, Lotteria Vietnam made a profit of 2,292 million won, or 35.4 billion VND.
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