“We are grateful for SPAVI’s performance in 2024 and the momentum we carry into 2025. We believe this will be a better year for us, given the investments that have begun to pay off,” Vic Gregorio, SPAVI president and CEO, said in a statement.
Growth despite risks
“While we remain cognizant of uncertainties the market presents, we’re aiming for continued double-digit growth, driven by new store openings and same store sales,” Gregorio said.
“This will be supported by our multi-brand portfolio — from growing market leaders like Shakey’s and Potato Corner to newer, expanding concepts such as Peri-Peri, and other incubating brands — along with our geographically diverse footprint. Ultimately, all our efforts are guided by the Group’s philosophy to ‘wow’ our guests and deliver exceptional value and experiences,” he added.
Headline figures
Net income rose 11 percent to P1.2 billion, driven by stronger consumer spending and operational gains.
Systemwide sales hit P21.7 billion, up 17 percent, boosted by organic growth and new store openings.
Same-store sales grew 4 percent in 2024, helped by new products, holiday demand, and value promotions.
478 new outlets were opened, growing the global network to 2,619 stores, with over 100 added overseas.
Expansion plans underway
Capital expenditures hit P953 million, mostly for store openings and renovations as part of its multi-brand growth strategy.
Gross margin improved to 25.5 percent, up 90 basis points, helped by lower input costs and stronger sales execution.
