SMFB earning grow on stronger food, liquor businesses
Published Aug 6, 2025 05:05 pm
San Miguel Food and Beverage Inc. (SMFB), one of the core subsidiaries of diversified conglomerate San Miguel Corporation, registered a 15 percent growth in consolidated net income to ₱23 billion for the first half of 2025 due to its steady sales performance and improved cost management.
In a disclosure to the Philippine Stock Exchange, the firm said revenues improved four percent year-on-year to ₱201.2 billion for the six months ending June 30. Operating income climbed 13 percent to ₱30.0 billion, while EBITDA increased to ₱39.3 billion, reflecting a 20 percent margin.
“Our first-half performance shows the strength of our operations and our ability to execute on long-term strategic goals,” said SMFB Chairman Ramon S. Ang.
He added that, “We will continue to invest in capacity, improve efficiency, and expand our reach to deliver lasting value to our customers and stakeholders while making everyday food and beverages more accessible to Filipino families.”
San Miguel Foods recorded ₱94.4 billion in revenues, up seven percent from a year earlier, supported by higher volumes and favorable pricing across core categories such as chicken, canned meats, spreads, and coffee.
Operating income jumped 41 percent to ₱8.6 billion, while net income surged 53 percent to ₱6.0 billion. The segment also posted a 34 percent increase in EBITDA to ₱13.1 billion, driven by improved margins and operating efficiencies.
San Miguel Brewery’s revenues were down one percent to ₱74.6 billion, as softer domestic demand offset gains overseas. International sales rose two percent to $144.8 million, with growth in South China and Vietnam.
However, despite lower revenues, operating income increased two percent to ₱16.2 billion and net income edged up three percent to ₱13.0 billion.
Ginebra San Miguel, the group’s spirits business, posted a seven percent rise in revenues to ₱32.2 billion, supported by better prices and stable volumes. Operating income grew 12 percent to ₱5.0 billion while net income jumped 16 percent to ₱4.2 billion. EBITDA rose 17 percent to ₱5.6 billion.