Shakey’s Sees 11% Net Income Growth in 2024, Driven by Strong Holiday Sales and Expansion

MANILA – Shakey’s Pizza Asia Ventures Inc. reported an 11% increase in full-year 2024 net income, with a strong 57% surge in Q4 alone, boosted by robust system-wide sales during the festive season.

The company’s system-wide sales climbed 21% in Q4, contributing to a 17% full-year growth, totaling ₱21.7 billion. CEO Vicente Gregorio credited the performance to product innovation, enhanced value offerings, and execution amid economic headwinds and weather disruptions.

In 2024, Shakey’s invested ₱953 million in capital expenditure, focusing on store openings and upgrades. It launched 478 new outlets, ending the year with 2,619 locations globally, including a growing international presence.

Gregorio highlighted the international expansion as a promising growth frontier, noting localized innovations in flavors, product lines, and store formats across overseas markets.

Shakey’s also manages brands such as Potato Corner, Peri-Peri Charcoal Chicken, R&B Milk Tea, and Project Pie.

Shares of Shakey’s traded slightly higher at ₱6.99, up by ₱0.05 on the day of the announcement.