Shakey’s Pizza Asia Ventures Inc. (PSE: PIZZA), the company that owns popular food brands like Shakey’s Pizza and Potato Corner, has shared its financial performance report for the full year 2025. According to the official disclosure filed with the Securities and Exchange Commission on April 15, 2026, the company showed strong sales growth but faced some profit challenges.

What Happened with Sales?

Think of “systemwide sales” as the total money collected from all of Shakey’s stores combined, whether the company owns them directly or they’re run by franchise partners. In 2025, SPAVI’s systemwide sales reached Php24.8 billion—that’s 14% more than what they made in 2024. The company’s consolidated revenues (the money that goes directly to the company) grew to Php16.1 billion, which is an 11% increase from the previous year.

Growing the Store Network

One of the main reasons sales went up is because Shakey’s Pizza Asia Ventures opened many new stores. During 2025, the company added 351 new stores and outlets to its network. By the end of the year, they had a total of 2,970 stores worldwide, with about 16% of these located in other countries outside the Philippines.

The company operates several food brands including Shakey’s Pizza, Potato Corner, Peri-Peri Charcoal Chicken, R&B Milktea, and Project Pie. This variety helps them serve different types of customers with different budgets.

Why Did Existing Stores Struggle?

While new stores helped boost total sales, the existing stores didn’t do as well. “Same store sales growth” measures how much more (or less) money individual stores made compared to the previous year. For SPAVI, this number was only 1% for the full year, which means stores that were already open didn’t see much growth.

According to SPAVI President and CEO Vic Gregorio, the year had two very different parts. The first half of 2025 was good, with Shakey’s celebrating its 50th anniversary and prices becoming more stable. However, the second half wasn’t as strong because people cut back on eating out and spending money on non-essential things. Bad weather and natural disasters also didn’t help during the usual busy holiday season.

How Different Brands Performed

The company explained that having multiple brands actually helped during tough times. When families had less money to spend, they visited Shakey’s restaurants less often for big group meals. However, value-oriented brands like Potato Corner kiosks (the small stalls you see in malls) did very well because they offer affordable snacks.

What About Profits?

Even though sales grew, the company’s profits went down. The “core net income after tax” (the actual profit the company kept after paying all expenses and taxes, excluding one-time unusual items) dropped by 20% to Php952 million. The headline net income was even lower at Php816 million, down 32% from the previous year.

Why did this happen? Opening new stores costs a lot of money upfront. There are expenses before the store even opens, equipment to buy, and these costs brought down the profit margins. The company’s gross margin was 22.9%, which was 2.3 percentage points lower than the year before. Operating expenses also increased slightly to 14.6% of sales.

However, there was some good news: the company’s core EBITDA (earnings before interest, taxes, depreciation, and amortization—a measure of operating performance) actually improved by 3% to Php2.7 billion, showing that the basic business operations are still healthy.

Looking Ahead to 2026

CEO Gregorio acknowledged that 2025 was challenging and that 2026 might be even more complicated due to geopolitical tensions (conflicts between countries) affecting the economy. The company plans to focus on things they can control: keeping their brands relevant to customers, being smart about where they open new stores, and managing costs carefully. Their approach is centered on putting customers first and delivering good value.

This article is based on an official disclosure from Shakey’s Pizza Asia Ventures Inc. filed with the Securities and Exchange Commission.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.