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Highlands Coffee, Vietnam’s largest coffee chain, reported EBITDA growth of 6% year-on-year to more than 1,085 billion VND, the highest level in three years. The figure comes from the 2025 business results report released by Jollibee Foods Corporation (JFC), which shows Highlands Coffee’s EBITDA at nearly 2.5 billion pesos (equivalent to more than 1,085 billion VND).
JFC’s report indicates Highlands Coffee’s EBITDA rose 5.7% from 2024 and is the highest since the metric was first disclosed in 2023. On average per day, the chain generated nearly 3 billion VND in EBITDA.
Highlands Coffee also contributes nearly 29% to EBITDA within JFC’s coffee and tea segment. If calculated across the wider group, it accounts for more than 5.9%.
EBITDA improved alongside same-store sales growth of 8.2% year-on-year. This metric covers outlets that have operated for at least 15 months, excluding newly opened locations. Transaction volume increased by 6%, while average revenue per customer rose by 2.1%.
The report did not specify Highlands Coffee’s revenue. However, SuperFoods—the unit behind Highlands Coffee and Pho 24—reported revenue of more than 11.9 billion pesos (equivalent to more than 4,946 billion VND), up nearly 17%.
Pho 24 has only 14 stores, implying Highlands Coffee is a major driver of SuperFoods’ revenue contribution.
As of the end of December, Highlands Coffee had 985 stores domestically and internationally, including both company-operated and franchised models. The brand has 38 franchised stores in the Philippines, its first international market. Compared with the end of the previous year, the network expanded by 135 stores.
Highlands Coffee reported more than 10,000 employees and serves over 100 million customers annually.
Highlands Coffee was established in 1999, beginning with packaged coffee products in Hanoi. In 2002, it expanded into a coffee chain with its first store in Ho Chi Minh City. In 2012, Highlands Coffee was acquired by Jollibee Foods Corporation, a Philippines-based restaurant group.
In an interview with VnExpress in April 2025, founder and CEO David Thai said Highlands Coffee remains a Vietnamese business, with Jollibee acting as an investor and strategic advisor rather than being involved in daily operations. Management and human resources at Highlands Coffee are led by David Thai.
JFC is considering an IPO for Highlands Coffee, with expected timing in Q1 2027. The stated objective is to support Highlands Coffee’s next growth phase by raising capital, enhancing the company’s corporate image, and helping it focus more on strategy and operations.
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