Highlands Coffee, the biggest coffeehouse chain in Vietnam, noted an earnings before interest, taxes, depreciation and amortization (EBITDA) of 666 million Philippine pesos, equivalent to US$11.3 million, for the third quarter. This demonstrates a 17.1% growth compared to the same period last year and is the highest quarterly EBITDA since Q3 2023 when Jollibee Foods Corporation, its parent company, started releasing its financial data separately.
The Vietnamese coffee brand contributed about 6.1% to the total EBITDA of Jollibee Foods Corporation, which is based in the Philippines. Moreover, it made up 29% of the corporation’s coffee and tea sector. Sales at locations that have been in operation for a minimum of 15 months saw a 17.2% increase.
The EBITDA of Highlands Coffee for the first three quarters of 2025 experienced a 9.5% rise, amounting to 1.9 billion Philippine pesos.
The coffee chain operates 928 branches both domestically and internationally, 109 of which were inaugurated within the first nine months of the year. Originally established in 1999 as a packaged coffee vendor in Hanoi, the business transitioned into the coffeehouse industry in 2002 with its pioneer branch in Ho Chi Minh City. The chain was later acquired by Jollibee Foods Corporation in 2012.
David Thai, the founder and CEO, acknowledged earlier this year that the coffee chain has witnessed positive outcomes due to its business model, customer-centric approach, and well-defined positioning in terms of products, pricing, and taste. The company streamlined its operations and expanded methodically. Moreover, the firm primarily focuses on enhancing its flavor profiles before investing in marketing efforts.
Highlands Coffee is planning to go public in Vietnam, Thai confirmed, although a specific timeline was not provided. Industry analysts and securities agencies forecast that it will likely be listed in 2026-2027, coinciding with an anticipated wave of initial public offerings.
In the first half of the current year, the food and beverage sector in Vietnam generated VND406.1 trillion, equivalent to US$15.4 billion in revenues, a slight increase from the VND403.9 trillion recorded a year earlier, as stated by digital management solution provider iPOS.
Despite major holidays such as the Lunar New Year in February and the Reunification Day at the end of April not boosting sales as expected, Vietnamese consumers seem to be maintaining their F&B expenditures. However, the report also indicated that the number of F&B locations is dwindling and the market is heading towards intense competition.
What is the current contribution of Highlands Coffee to Jollibee Foods Corporation’s total EBITDA?
Highlands Coffee contributes approximately 6.1% to Jollibee Foods Corporation’s total EBITDA.
What is the business strategy of Highlands Coffee according to its CEO, David Thai?
The business strategy of Highlands Coffee is based on its unique business model, customer-centric approach, and distinctive positioning in terms of products, pricing, and taste. The company prioritizes developing its flavor profiles before allocating resources to marketing.
What is the projected timeline for Highlands Coffee to go public in Vietnam?
Securities firms and analysts predict that Highlands Coffee will go public in Vietnam between 2026 and 2027.
