Press Releases


SHAKEY’S PIZZA REPORTS A NET INCOME GROWTH OF 26% FOR THE FIRST QUARTER OF 2017

 

 

The Philippines’ leading chained full-service restaurant, Shakey’s Pizza Asia Ventures Inc. (PSE:PIZZA), reported a consolidated net income after tax of Php173 million for the first three months of 2017. This represents a 26% growth against the same period last year, driven by stronger sales and improved profitability.

 

Systemwide store sales, a combination of company-owned and franchise store sales, grew by 22% to Php2.0 billion for the first quarter of 2017 from the Php1.6 billion during the same period last year. Same store sales growth (SSSG) registered at 11.6% for the first quarter of 2017 as instore head count and average checks increased.

 

The Company’s net revenues as a result increased by 25%, ending at Php1.7 billion for the period ending March 31, 2017, compared to the Php1.3 billion registered during the same period last year.

Shakey’s Pizza Delivers 40% Net Income Growth in 2016

 

 

The Philippines’ leading chained full-service restaurant, Shakey’s Pizza Asia Ventures Inc. (PSE : PIZZA), delivers a twelve-month net income of Php760 million, buoyed by stronger sales, an expanded store network, and improved profitability.

 

This includes net non-recurring income of Php90.3 million, a product of a change in ownership early last year and a subsequent corporate restructuring and initial public offering during the second half.

 

Excluding one-offs, PIZZA’s recurring net income after taxes increased by 40 percent year-on-year to Php670 million, equivalent to bottom-line margins of 11%.

SHAKEY’S PIZZA EXPANDS TO THE MIDDLE EAST

 

 

Shakey’s Pizza Asia Ventures, Inc. (PSE: PIZZA), operator of the Philippines’ largest chained full-service restaurant, is set to expand its international footprint with the opening of the first Shakey’s Pizza store in the Middle East.

 

PIZZA, through wholly-owned subsidiary Shakey’s International Limited, recently signed a development agreement to build at least 10 Shakey’s Pizza outlets in the region. The first store is scheduled to open during the first half of 2017.

 

This marks PIZZA’s initial expansion into overseas markets, having owned the Shakey’s trademark across most of Asia, the Middle East, Australia and Oceania.

Disclosures

Disclosure Type Date Download Link to PSE EDGE
[AMENDED-2] PIZZA Shareholdings of Directors and Principal ShareholdersJanuary 13, 2017Download View
PIZZA Initial Statement of Beneficial Ownership of Securities January 13, 2017Download View
PIZZA Initial Statement of Beneficial Ownership of Securities January 13, 2017Download View
PIZZA Report on the International Distribution of Stablization Shares January 09, 2017Download View
PIZZA Public Ownership Report January 06, 2017 View
PIZZA Top 100 Shareholders January 04, 2017Download View
PIZZA Disbursement Of Proceeds and Progress Report January 04, 2017 Download View
PIZZA Early Stablization Termination December 23, 2016 Download View
PIZZA Notice of Completion of Offering December 20, 2016 Download View
PIZZA Weekly Stabilization Activity Report December 20, 2016 Download View
PIZZA Clarification of News Report December 19, 2016 Download View
Disclosure Type Date Download Link to PSE EDGE
PIZZA Change in Directors and/or Officers May 19, 2017 View
PIZZA Amendments to By-Laws May 19, 2017 View
PIZZA Notice of Annual Stockholder's Meeting May 19, 2017Download View
PIZZA Amendments to Articles of Incorporation May 18, 2017 View
PIZZA Declaration of Cash Dividends May 8, 2017Download View
PIZZA Disbursement of Proceeds and Progress Report (March 31, 2017) April 17, 2017Download View
PIZZA Top 100 Participants - PDTC (March 31, 2017) April 17, 2017DownloadView
PIZZA Top 100 Shareholders (March 31, 2017) April 17, 2017DownloadView
PIZZA Public Ownership Report (March 31, 2017) April 5, 2017 View
PIZZA Disbursement of IPO Proceeds (Annual Report) January 13, 2017Download View
PIZZA Disbursement of IPO Proceeds (Quarterly Report) January 13, 2017Download View

News Room

Investors gobble up Shakey’s on debut


SHAKEY’S Pizza Asia Ventures, Inc. emerged among the top picks in Philippine Stock Exchange (PSE) on its market debut yesterday, defying a regional downturn driven by a hawkish US Federal Reserve. The latest addition to the Main Board of the PSE settled at P12.10 apiece -- 84 centavos or 7.46% above the P11.26 listing price -- after investors traded about 49.59 million shares for a total of P601.8 million.

Shakey’s rose 74 centavos or 6.57% to P12 apiece as soon as trading commenced. It stayed above the listing price throughout the session, registering a low of P11.66 and a high of P12.36.

The stock emerged as the second most active and fifth top gainer during the session that witnessed the main index drop 73.03 points or 1.05% to 6,855.31 and the net foreign selling level increase to P1.78 billion.

Shakey’s priced at P11.26/share



Pizza parlor chain operator Shakey’s Pizza Asia Ventures Inc. (SPAVI) has priced its initial public offering (IPO) at P11.26 per share, thus finalizing the size of its stock market debut at P3.96 billion.

A “reasonable balance” had been struck at this pricing level, at which the share sale is oversubscribed by three times the base offer due to demand from institutional investors, Stephen CuUnjieng told the Inquirer. CuUnjieng is chair for Asia at Evecore, which acts as SPAVI’s adviser for the sale.

The offer price was slashed from the earlier maximum price of P15.58 per share.

The final pricing will give Spavi a post-IPO market capitalization of P17.24 billion. Spavi is controlled by the Po family, which also leads Century Pacific Food Inc. (CPNF).

Shakey’s IPO a go, says PSE



Mr. Po Sr.

MANILA, Philippines - It’s all systems go for the stock market debut of pizza chain Shakey’s Philippines after the Philippine Stock Exchange (PSE) approved this week the company’s planned initial public offering (IPO), the final requirement for the listing scheduled on Dec. 15.

“We already approved it,” PSE president Hans Sicat said yesterday.

Shakey’s adds meat-free pizza to local menu



MANILA, Philippines - Shakey’s Pizza Asia Ventures Inc. (SPAVI), the country’s top pizza chain, and British meat substitute producer Quorn Foods (Quorn TM ) have teamed up to bring meat-free pizzas to the local dining industry.

Under the exclusive and limited agreement, SPAVI intends to offer Philippines’ first meat alternative pizzas.

Shakey’s Quorn TM pizzas come in two meat free and soy free pizza variants, providing alternatives to pizza lovers who need to lessen their meat intake.

P5.5B IPO of Shakey’s Pizza PH operator ok’d



The Securities and Exchange Commission has approved a plan by Po family-led Shakey’s Pizza Asia Ventures Inc (SPAVI), a leading full-service restaurant in the country, to raise up to P5.5 billion from a local stock market debut this year.

Based on SEC documents, SPAVI will sell up to 352 million primary and secondary shares – including 46 million shares to meet excess demand, at a maximum price of P15.58 each.

Shakey’s PH seeks P5.5B IPO



PO family-led Shakey’s Pizza Asia Ventures Inc (SPAVI), a leading full-service restaurant in the country, seeks to raise up to P5.5 billion from a local stock market debut this year.

SPAVI filed on Monday a prospectus with the Securities and Exchange Commission (SEC) to sell up to 352 million primary and secondary shares – including 46 million shares to meet excess demand, at a maximum price of P15.58 each.

SHAKEY'S MOVES TO NEW HQ IN 2017


Shakey’s Pizza Asia Ventures Inc. (SPAVI), the Philippines' leading chained full-service restaurant, will transfer to its new corporate headquarters early next year as it gears up for sustained growth, an aggressive store expansion plan, and a possible public offering late this year.
The new headquarters, located in Parañaque City, will stand four stories tall and is scheduled to open in the second quarter of 2017.



(From left) President and CEO Vicente Gregorio, Chairman Christopher Po, Vice Chairman Ricardo Po Jr, Pilar Prieto Lorenzo at the groundbreaking ceremony for Shakey’s Pizza Asia Ventures’ new headquarters.

Stock Information

Shakey's Pizza Asia Ventures Inc. is listed on the Philippine Stock Exchange’s (PSE) main board with the stock symbol PIZZA.
Click here to go to the official Philippine Stock Market (PSE) page of Shakey's Pizza Asia Ventures Inc. (PIZZA)

As of May 11, 2017
Ticker Symbol PIZZA
Issue Type Common shares
Listing Date December 15, 2016
Initial Listing Price P11.26
 Latest Traded PriceP13.80
Minimum Board Lot 100
Par Value (PHP) 1
Foreign ownership level (%) 100%
Market capitalization PHP 21.13 Billion / USD 423.3 Million
Listed common shares 1,531,321,053
Free Float (%) 23.0%
 Sector Industrial
 Subsector Food, Beverage, & Tobacco
 Corporate Life 50
 Incorporation Date February 14, 1974
 Number of directors 7
 Stockholder's Meeting as per By-Laws May of each year
 Fiscal year 12/31 (Month/Day)
 External Auditor  SGV & Co.
 Transfer Agent BDO Unibank Inc. - Trust and Investments Corp.
  

Investment Highlights

  1. Shakey’s is the #1 Full Service Pizza Chain and #1 Full Service Restaurant Chain in the Philippines
    • Shakey’s is the No. 1 full-service pizza chain in the Philippines with 58% market share, followed by Pizza Hut with only 35% market share. 
    • Shakey’s is also the dominant player in the full-service restaurant industry with 27% market share. Trailing behind are Pizza Hut and Max’s Group with 16% and 11% market share, respectively. 
    • The full-service pizza chain industry is expected to have faster growth over other full-service chains in the next five years. These confirm continued growth of Shakey’s business in the coming years. 
    • (Source: 2015 Euromonitor Report)
  2. Shakey’s has a strong and well-established brand
    • According to Asia’s Top 1,000 Brands survey by Campaign-Asia, in partnership with Neilsen Company, Shakey’s ranks 2nd in most popular Filipino brands in the restaurant category, following Mcdonalds.
    • Shakey's differentiated menu offerings have gone thru the test of time and have been brand icons on their own. To name a few, we have the Shakey's famous thin crust pizza and Chicken and Mojo's which we believe have become household names. 
    • Shakey's has acquired the trademarks and licenses to operate the Shakey’s brand in the Philippines and across Asia (except Malaysia and Japan, but including China), Middle East, Australia and Oceania.
    • Shakey's stores are located in strategic sites i.e. highly-dense convergence areas and along major roads where there is high visibility and accessibility. Shakey’s is extensively represented throughout the major urban centers and key islands in the Philippines.
    • Supercard , Shakey’s membership card, is among the most popular loyalty programs in the industry.
  3. Shakey’s has a proven and scalable business model
    • Shakey's is firmly positioned in the fast-casual segment that delivers high margins and good volumes. It also benefits from the consumer trend shifting from fast food to casual dining.
    • It has its owns its biggest commissary which supplies its proprietary raw materials, enabling quality control as well as economies of scale and purchasing synergies.
    • Shakey's operates on a 100% leased model. This enables for high financial liquidity and asset light model. Long-term leases in their store locations at attractive rental rates also lead to low rent-to-sales ratio.
    • Shakey’s operates multiple store formats, enabling them to capture the diverse needs and preferences of the market they enter.
    • Shakey’s has multiple sales channels (dine-in, delivery, carry-out, functions, online sales, and supercards) providing convenience and accessibility to its customers.
    • Presented in different store formats such as Legacy Stores, Free Standing Stores, mall and strip mall outlets and gasoline kiosks, enabling them to capture the diverse needs and preferences of the market.
    • Has multiple sales channels (dine-in, delivery, carry-out, functions, online sales, and supercards) providing convenience and accessibility to its customers.
    • Shakey’s has a well-established franchise model with industry leading Return on Investment (ROI) of 3-4 years.
    • Shakey's has excellent food safety and quality control processes in place (supplier quality control, employee training, internal audit, independent audit, area business managers, inventory management, store renovations)
  4. Shakey’s has an experienced management team
    • Shakey's has a strong management team adding up to more than 100 years of experience in the food and beverage industry.
    • The team is lead by President and Chief Executive Officer Vicente L. Gregorio who has been driving the Shakey’s business since 2003. He is supported by Chief Finance Officer Manuel del Barrio, previously Finance head of Philippine-listed Century Pacific Food Inc and Pacific Meat Inc. Jorge C. Concepcion, general manager of Shakey’s, has over 30 years of food service experience both locally and abroad.
    • The team is also supported by foreign consultants Alois Brielbeck and Joseph Remsa. Before his appointment as General Manager of Bakemasters Inc. in 2005, Alois has previously held top positions in both local and foreign pastry kitchens. He was previously the Chief Operating Officer of Culinary Systems Specialists Inc. and also the General Manager of Globus Gourmet.  Joe is previously the President and Chief Executive Officer of Shakey’s USA. He is leading the development and operations of Shakey’s brands in Asia, Middle East, Australia and Oceania. He has over 25 years of experience in operations and franchising of top chained restaurants.

Financial Reports

Unaudited Interim Consolidated Financial Statements as of March 31, 2017
The above file contains the following:   
  • Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016.
  • Consolidated Statement of Income and Retained Earnings for the period ended March 31, 2017.
  • Consolidated Statement of Cash Flows for the period ended March 31, 2017.
  • Consolidated Statement of Changes in Shareholder’s Equity for the period ended March 31, 2017 and December 31, 2016.
1.45MB PDF
Audited Consolidated Financial Statements as of December 31, 2016
The above file contains the following:
  • Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016.
  • Consolidated Statement of Income and Retained Earnings for the period ended March 31, 2017.
  • Consolidated Statement of Cash Flows for the period ended March 31, 2017.
  • Consolidated Statement of Changes in Shareholder’s Equity for the period ended March 31, 2017 and December 31, 2016.
  • Notes to Consolidated Financial Statements.
2.64MB PDF
International Family Food Services, Inc. Audited Standalone Financial Statements for years ended 2015, 2014, 2013
The above file contains the following:
  • Statements of Financial Position as of December 31, 2015, 2014, 2013.
  • Statements of Comprehensive Income for the periods ended December 31, 2015, 2014, 2013.
  • Statements of Changes in Equity for the periods ended December 31, 2015, 2014, 2013.
  • Statement of Cash Flows for the periods ended December 31, 2015, 2014, 2013.
  • Notes to Financial Statements.
0.64MB PDF
International Family Food Services, Inc. and Subsidiary Audited Consolidated Financial Statements for the first six months of 2016 and year ended 2015
  • Consolidated Statements of Financial Position as of June 30, 2016 and December 31, 2015.
  • Consolidated Statements of Comprehensive Income for the six-month periods ended June 30, 2016 and 2015.
  • Consolidated Statements of Changes in Equity for the six-month periods ended June 30, 2016 and 2015.
  • Consolidated Statement of Cash Flows for the six-month periods ended June 30, 2016 and 2015.
  • Notes to Consolidated Financial Statements.
0.69MB PDF
International Family Food Services, Inc. and Subsidiary Unaudited Proforma Condensed Consolidated Financial Statements for the first six months of 2016 and year ended 2015
  • Pro Forma Consolidated Statements of Financial Position as of June 30, 2016.
  • Pro Forma Consolidated Statements of Financial Position as of December 31, 2015.
  • Pro Forma Consolidated Statements of Comprehensive Income for the six-month period ended June 30, 2016.
  • Pro Forma Consolidated Statements of Comprehensive Income for the period ended December 31, 2015.
  • Pro Forma Consolidated Statements of Changes in Equity for the six-month period ended June 30, 2016.
  • Pro Forma Consolidated Statements of Changes in Equity for the period ended December 31, 2015.
  • Pro Forma Consolidated Statement of Cash Flows for the six-month period ended June 30, 2016.
  • Unaudited Pro Forma Consolidated Statement of Cash Flows for the period ended December 31, 2015.
  • Notes to Unaudited Pro Forma Condensed Consolidated Financial Information.
0.32MB PDF

Investor Relations Program

Maintaining open communications and credibility with various stakeholders is a priority of Shakey’s Pizza Asia Ventures Inc. 

The Company values its investors’ opinions and is continually seeking new opportunities to engage in constructive dialogue with its shareholders.

The Investor Relations Office makes publicly available essential investor information primarily through Philippine Stock Exchange disclosures.


Other specific initiatives included:

  • Investor conferences and meetings. In addition, investors may contact our Investor Relations Office on a continuing basis.
  • The use of the website to enable engagement with a broader group of stakeholders.

Investor Presentations

PIZZA Investor Presentation as of February 2017


Past Events

8th Annual dBAccess Asia Conference
Marina Bay Sands, Casino City, Singapore
Wednesday, May 17, 2017

Stocktalks
Philstocks Building
14th Floor, Picadilly Star Building, Bonifacio Global City
Monday, April 24, 2017

UBS Philippines CEO/CFO Forum 2017
Manila Peninsula Hotel, Makati City
Thursday, March 2, 2017

Maybank Kim Eng Philippine Corporate Day 2017
St. Regis Kuala Lumpur
Tuesday, February 21, 2017

16th Annual 
dbAccess Philippines Corporate Day
Ritz-Carlton Singapore 
Tuesday, February 14, 2017

JP Morgan Philippines 1x1 Forum
Makati Shangri-La, Philippines 
Tuesday, February 7, 2017


Investor Contact

For investor-related questions, please contact:

Ms. Giovanna Vera
investorrelations@shakeys.biz

Prospectus

PIZZA Final Prospectus November 28, 2016 8.12MB PDF