Shakey’s Pizza Asia Ventures, Inc., the Philippines’ leading casual dining restaurant group and kiosk operator, today announced its audited financial results for the fiscal year ending December 31, 2025.
Despite a challenging macroeconomic environment, the Group achieved double-digit top-line growth driven by an aggressive global expansion strategy.
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Systemwide Sales (SWS): Reached Php 24.8 billion, a 14% increase year-on-year.
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Revenue: Rose to Php 16.1 billion, up 11% versus 2024.
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Network Expansion: Opened 351 new units, bringing the total global network to 2,970 stores.
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Core EBITDA: Grew by 3%, demonstrating underlying operational strength amid expansion costs.
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Net Income After Tax (NIAT): Reported at Php 816 million; Core NIAT (excluding one-off items) stood at Php 952 million.
The Group’s growth was propelled by its “Guest First” philosophy and a diversified portfolio including Shakey’s Pizza, Potato Corner, Peri-Peri Charcoal Chicken, R&B Milktea, and Project Pie.
This multi-brand approach provided critical resilience as consumer preferences shifted toward value-oriented formats in the second half of the year.
While the first half of 2025 saw robust performance—bolstered by the Shakey’s 50th Anniversary campaign—the latter half was marked by a pullback in discretionary spending.
Consequently, Same-Store Sales Growth (SSSG) remained tempered at 1%. Notably, value-driven formats like Potato Corner outperformed, offsetting softer demand for group dining occasions in the casual dining segment.
In the fourth quarter alone, SPAVI doubled down on its footprint, launching 163 new stores. While this rapid expansion led to a temporary compression of gross margins (22.9%) due to pre-operating expenses and depreciation, the Group views these as deliberate investments in high-potential locations with attractive payback periods.
Vic Gregorio, President and CEO of SPAVI, commented: “2025 was a tale of two halves. We navigated a complex landscape of stabilizing inflation followed by a sudden cooling of consumer confidence. However, we did not take these challenges lying down. We made the strategic choice to invest in our network and brand relevance. Our core EBITDA growth, despite these headwinds, reflects the fundamental health of our business model as we build for long-term market leadership.”
As the Group enters 2026, management remains focused on navigating geopolitical and macroeconomic uncertainties by reinforcing business resilience. Key priorities include:
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Optimizing the Store Network: Focusing on sustainable expansion and store-level profitability.
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Cost Discipline: Tightening supply chain management and improving operational efficiencies.
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Value Leadership: Leveraging the multi-brand platform to deliver superior value to “value-seeking” guests.
“We are focusing on what we can control,” Gregorio added. “By staying true to our ‘Guest First’ mantra and maintaining cost discipline, we are ensuring that SPAVI remains the partner of choice for Filipino families and our growing international customer base.”
