SMC's Nine-Month Profit Up More Than Double To ₱31.2 Billion

San Miguel Corporation (SMC) sustained its strong financial performance in the first nine months of the year as net income surged 141% to P31.2 billion from the same period last year.

San Miguel Brewery (SMB) continued to perform strongly throughout the nine-month period, with consolidated revenues reaching P108.3 billion, 9% higher than last year. I Photo: San Miguel Corporation

Its significant growth was driven by the exceptional performance of key subsidiaries Petron Corporation, San Miguel Brewery Inc. (SMB), Ginebra San Miguel Inc. (GSMI), SMC Infrastructure, and Eagle Cement Corporation (Eagle).

Consolidated operating income reached P110.2 billion, a 29% year-on-year growth that reflected performance improvements across its Fuel and Oil, Beverages, Packaging, Infrastructure, and Cement businesses.

SMC's Power and Food businesses, while still tracking below last year's levels, have started to show improvements in the third quarter.

Consolidated revenues slightly decreased by 5% to P1.1 trillion due to lower selling prices from Petron, along with a decrease in sales volumes for San Miguel Foods (SMF) and San Miguel Global Power (SMGP).

However, this was partly offset by higher sales in other businesses. Consolidated EBITDA amounted to P154.2 billion, up 22% versus last year.

"SMC's resilient performance in the face of economic challenges is very encouraging. Our achievements highlight our consistent focus on quality and strategic business growth. We remain dedicated to delivering exceptional service to our customers while contributing to broader national initiatives," SMC President and CEO, Ramon S. Ang said.

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