Vietnam's largest coffee chain reports highest profit in 2 years, plans to go public

Highlands Coffee chain reported pre-tax profit, excluding depreciation and interest, of more than VND297 billion in the third quarter, the highest level in the past two years.

JFC is the parent company of Highlands Coffee - Photo: Highlands Coffee

According to the third quarter 2025 business results report of Jollibee Foods Corporation (JFC), pre-tax profit, excluding depreciation and interest (EBITDA) of Highlands Coffee reached about 666 million pesos, equivalent to more than 297 billion VND, an increase of 17.1% over the same period last year.

The chain contributes nearly 29% to JFC's coffee and tea segment's EBITDA, and accounts for nearly 6.1% of the group's total profit.

Profits improved thanks to a 17.2% year-over-year increase in same-store sales, which only counts stores that have been operating for at least 15 months and excludes new openings.

In the first 9 months, Highlands Coffee achieved EBITDA of about 1.9 billion pesos (equivalent to 852 billion VND), up 9.5% over the same period. The report did not disclose revenue details.

As of the end of September, Highlands Coffee owned 928 stores at home and abroad, including self-operated and franchised models. In the first 9 months of the year, the chain opened 109 new stores but also closed 31 points of sale. Highlands Coffee also has a franchise system in the Philippines.

This coffee chain is owned by Viet Thai International Company, founded by Mr. David Thai (Thai Phi Diep) in 2002. In 2011, Jollibee, through its subsidiary JSF, spent 25 million USD to buy 49% of Viet Thai's shares and 60% of its business in Hong Kong.

According to JFC's 2024 annual report, Highlands Coffee is a subsidiary of SuperFoods Group - a subsidiary of JSF, with Mr. Thai Phi Diep as CEO.

Jollibee Foods Corporation, founded by billionaire Tony Tan Caktiong - the 6th richest person in the Philippines, currently operates the country's largest food service network with more than 1,700 stores globally, including the Coffee Bean & Tea Leaf brand in the US.

Previously, Jollibee had planned to list Highlands Coffee on the Vietnamese stock exchange but did not do so.

In 2022, the Philippine group plans to sell 10-15% of this coffee chain for $800 million. Earlier this year, Mr. David Thai also confirmed his intention to list Highlands Coffee on the stock market in the future, but the specific time has not been disclosed.

In June this year, Mr. Tim Seltzer, Chief Financial Officer of Highlands Coffee, said that the largest tea and coffee chain in Vietnam is planning an IPO within the next 18-24 months.

Nhat Quang

Source: https://tuoitre.vn/chuoi-ca-phe-lon-nhat-viet-nam-bao-lai-cao-nhat-2-nam-co-ke-hoach-len-san-20251117143042242.htm