San Miguel Corp. on Monday reported a 9-percent rise in consolidated revenues to P1.6 trillion in 2024, driven by higher sales volumes across its core businesses.
Growth was led by its power, spirits and fuel and oil units, while beer and infrastructure also contributed, SMC said in a statement.
Consolidated operating income rose 11 percent to P160.8 billion, supported by margin improvements in power, food and beverage and infrastructure, as well as cost management initiatives. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 10 percent to P225.9 billion.
Core net income jumped 22 percent to P52.3 billion, reflecting strong operational performance. Reported net income was P36.7 billion, including foreign exchange adjustments.
“Our strong 2024 performance reflects strategic growth, operational efficiency, and disciplined execution,” SMC chairman and chief executive Ramon Ang said.
“We remain focused on strengthening and making our businesses more efficient, while driving sustainability and long-term growth,” he said.
San Miguel Food and Beverage Inc (SMFB) posted a 6-percent increase in consolidated sales to P400.9 billion, driven by higher volumes and market expansion.
Gross profit rose 10 percent to P110.9 billion, and operating income grew 15 percent to P55.8 billion. Net income increased 7 percent to P40.9 billion, with EBITDA at P73.1 billion.
San Miguel Foods reported a 3-percent rise in sales to P185.0 billion, led by a 7-percent increase in the protein segment and a 12-percent rise in prepared and packaged food.
San Miguel Brewery Inc (SMB.PS) recorded a 4-percent increase in sales to P153.4 billion, with domestic sales at P137.6 billion and international sales at $276.5 million.
Operating income rose 6 percent to P33.4 billion, and net income edged up 1 percent to P25.6 billion. EBITDA stood at 41.8 billion pesos.
Ginebra San Miguel Inc (GSMI.PS) saw a 17-percent sales growth to P62.5 billion, driven by increasing consumer demand.
San Miguel Global Power Holdings Corp (SMGP) reported a 21-percent rise in revenues to P205.1 billion, driven by a 45-percent increase in offtake volume to 36.6 million megawatt-hours (MWh).
Petron Corp. reported an 8-percent increase in revenues to P868.0 billion. Sales volume grew 10 percent to 139.9 million barrels. Operating income remained steady at P29.2 billion pesos. Net income declined 16 percent to P8.5 billion.
San Miguel Infrastructure reported a 7-percent rise in revenues to P37.5 billion. Operating income increased 12-percent to P20.3 billion, and EBITDA rose 8 percent to P29.7 billion.
SMC’s cement business reported a 6-percent decline in net sales to P34.9 billion.