Highlands Coffee – Vietnam’s largest coffee chain – recorded EBITDA of over VND 572 billion in the first half of the year, up 5.8% year-on-year.
According to the Q2 business results report of Jollibee Foods Corporation (JFC), the parent company of Highlands Coffee, the chain’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached about 1.2 billion pesos (equivalent to nearly VND 572 billion) in the first half of the year. This represents an increase of 5.8% compared to the same period last year.
On average, the company earned nearly VND 3.2 billion per day. The chain contributed nearly 26% to the EBITDA of Jollibee Foods Corporation’s coffee and tea segment. Across the entire group, Highlands Coffee accounted for more than 5.9%.
Profit improvement was driven by a 4.4% year-on-year increase in same-store sales. This metric only counts outlets that have been in operation for at least 15 months, excluding new openings. The number of transactions also rose 2.3%, while the average revenue per customer increased by 2%.
The report did not disclose specific revenue figures. However, SuperFoods – the operator of Highlands Coffee and Phở24 – revealed revenue of over 5.6 billion pesos (more than VND 2,575 billion), up more than 12%. With Phở24 having only 14 outlets, this indicates that Highlands Coffee contributed the lion’s share of SuperFoods’ revenue.
Highlands Coffee is currently the largest coffee chain in Vietnam. As of the end of June, the company operated 896 stores domestically and abroad, including both company-owned and franchised outlets. In the first six months of the year, they opened 62 new stores but also closed 16 locations.
The brand was founded in 1999, starting with packaged coffee products in Hanoi. In 2002, Highlands Coffee expanded into the café chain model with its first store in Ho Chi Minh City. Since then, it has grown steadily, becoming a well-known coffee brand not only in Vietnam but also in international markets.
In 2012, Highlands Coffee was acquired by Jollibee Foods Corporation, a restaurant group based in the Philippines. Speaking to VnExpress in April, founder and CEO David Thái affirmed that the chain remains a Vietnamese enterprise, with Jollibee acting only as an investor and strategic advisor, not involved in the chain’s day-to-day operations. Operations management and human resources remain under his leadership.
According to the CEO, their strong business performance comes from a deep understanding of the business model and customer focus, with a clear positioning in terms of service, products, pricing, and taste. They invest heavily in building an optimized process and ensuring sufficient resources before scaling. Once the business model is refined, the company simply replicates it. The chain prioritizes product flavor and allocates significant resources to innovation before marketing.
Looking ahead, David Thái said Highlands Coffee will be listed on Vietnam’s stock market. However, the exact timing has not yet been disclosed.
