San Miguel Food and Beverage Inc. (SMFB) posted an 11-percent increase in consolidated net income to P30.4 billion in the first nine months of 2024, as all business segments posted growth.
SMFB said in a disclosure to the stock exchange consolidated sales amounted to P291.1 billion, up by 5 percent year-on-year in the period ending Sept. 30, 2024.
This was driven by a 15-percent jump in operating income to P39.9 billion.
“Our performance this year highlights the strength of our diversified portfolio,” said SMFB chairman Ramon Ang.
“Through strategic investments in our brands, cost management and by adapting to market trends, we are building resilience and setting the stage for long-term growth. Beyond profits, we view ourselves as partners in nation-building, ensuring that our products and initiatives contribute to economic progress and community support,” he said.
SMFB’s consolidated net income margin remained steady at 10 percent, reflecting its commitment to growth, operational efficiency and delivering value to shareholders.
Sales of San Miguel Foods rose 4 percent to P134.3 billion, supported by increased volumes.
The prepared and packaged food segment led the way, with an 11 percent revenue increase, driven by strong demand for key products like Purefoods Luncheon Meat, Magnolia dairy and San Mig Coffee.
San Miguel Brewery Inc. (SMBI) reported consolidated revenues of P111.2 billion, a 3-percent growth, driven by higher volumes.
Domestic sales reached P99.1 billion, with international sales totaling $212.4 million.
Ginebra San Miguel Inc. achieved a 17-percent sales increase, reaching P45.6 billion, on higher prices and volumes.
Operating income increased, with earnings before interest, taxes and amortization (EBITDA) at P7.1 billion.
SMFB said strong brand performance and efficient distribution further strengthened the beverage segment.
