San Miguel Corp. (SMC) is projecting continued growth across upcoming quarters, driven by new revenue sources in infrastructure, energy, and transportation, according to chairman and CEO Ramon S. Ang.
Speaking at the company’s annual stockholders’ meeting, Ang highlighted the expected financial impact of operating the Ninoy Aquino International Airport (NAIA), as well as the near-completion of the 66-kilometer Sto. Tomas-Lucena tollway. Both are set to provide fresh income streams that complement the conglomerate’s stable legacy businesses.
Ang also underscored the significance of large-scale infrastructure projects in SMC’s pipeline, including the planned South Luzon Expressway Toll Road 5—a 420-kilometer route from Lucena, Quezon to Matnog, Sorsogon—and the ongoing construction of the US$15-billion New Manila International Airport in Bulacan. The latter is positioned as a transformative development that could diversify national revenue through increased tourism and reduced reliance on remittances and BPO income.
In the energy sector, SMC is expanding renewable capacity through new solar projects and a 2,000-MW pumped hydro storage facility in San Roque, Pangasinan. Its nearly fully energized 1,000-MW battery storage portfolio is already supporting grid stability and integration of renewables.
Petron Corp., the group’s oil refining and retail arm, continues to perform well despite global crude volatility, thanks to strategic hedging and logistics improvements. It is also scaling up its network of fuel stations and depots.
While consolidated first-quarter revenue slipped 8 percent to ₱360.91 billion, core net income rose 31 percent to ₱19 billion. Total net income surged to ₱43.38 billion, buoyed by non-recurring gains from a partial sale of power assets and favorable forex movements.
Ang emphasized the group’s long-term focus: “We are starting a lot of new businesses while our existing businesses are very stable.”
