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Manila Bulletin devider Business devider The Stock Market devider SMFB posts strong Q1 results, RSA optimistic for remainder of 2025

SMFB posts strong Q1 results, RSA optimistic for remainder of 2025

Published May 8, 2025 11:18 am
San Miguel Food and Beverage, Inc. (SMFB) Chairman Ramon S. Ang expects the company to post strong earnings growth in 2025 and beyond as it continues to expand capacity and reach.
The company started 2025 with strong momentum, posting robust first quarter results driven by sustained demand, improved efficiencies, and disciplined cost management.
“Our results this quarter reflect the strength of our diversified portfolio and our continued focus on execution. We are optimistic about the rest of the year,” said Ang.
He noted that, “Our continued investments in key growth areas, from expanding production capacities to strengthening our distribution network, are designed to meet the evolving needs of the Filipino consumer.
“With our strong brands and disciplined execution, we are well-positioned to sustain our growth trajectory in 2025 and beyond.”
SMFB said it continues to build on strong fundamentals, with ongoing investments focused on building scale, strengthening operations, and supporting its role in ensuring reliable access to essential food and beverage products for Filipino families.
In the first quarter of 2025, SMFB’s net income reached ₱11.6 billion, up 16 percent, with earnings before interest, taxes, depreciation, and amortization (EBITDA) increasing to ₱19.6 billion, translating to a 20 percent EBITDA margin.
For the period ending March 31, 2025, consolidated revenues rose four percent year-on-year to ₱98.9 billion. Gross profit grew 11 percent to ₱28.6 billion, while income from operations rose 16 percent to ₱15.2 billion.
San Miguel Foods reported revenues of ₱46.3 billion, up eight percent from the previous year. The business delivered a strong start to 2025, driven by high-teens growth in poultry and steady performance across processed meats, dairy, coffee, and flour.
Gross profit rose 22 percent to ₱10.6 billion, reflecting improved efficiencies and a favorable mix. Operating income jumped 70 percent to ₱4.4 billion, while net income surged 83 percent to ₱3.0 billion.
San Miguel Brewery Inc. generated sales of ₱36.3 billion, with domestic revenues at ₱32.0 billion and international sales at $74.9 million.
Despite tempered market conditions, the Beer business sustained healthy earnings through improved operating performance.
Gross profit reached ₱13.9 billion. Operating income improved by one percent to ₱8.2 billion, while net income improved to ₱6.6 billion.
Ginebra San Miguel Inc. posted revenues of ₱16.3 billion, up eight percent year-on-year, supported by sustained consumer demand and efforts to reach a broader base of customers.
Gross profit increased 10 percent to ₱4.1 billion. Operating income rose eight percent to ₱2.5 billion, while net income grew 11 percent to ₱2.1 billion.
The Spirits business continues to benefit from ongoing brand investments that strengthen market presence and drive profitability.

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Ramon S. Ang San Miguel Food and Beverage Inc.
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