San Miguel Food and Beverage Inc. (SMFB) reported a consolidated net income of P23 billion for the first half of 2025, up 15 percent from a year earlier driven by steady sales performance and improved cost management.
Revenue rose 4 percent year-on-year to P201.2 billion for the six months ending June 30. Operating income climbed 13 percent to P30.0 billion, while EBITDA increased to P39.3 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. “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 P94.4 billion in revenues, up 7 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 P8.6 billion, while net income rose 53 percent to P6.0 billion. The segment also posted a 34 percent increase in EBITDA to P13.1 billion, driven by improved margins and operating efficiencies.
San Miguel Brewery’s revenue was down 1 percent to P74.6 billion, as softer domestic demand offset gains overseas. International sales rose 2 percent to US$144.8 million, with growth in South China and Vietnam. Despite lower revenues, operating income rose 2 percent to P16.2 billion and net income edged up 3 percent to P13.0 billion.
Ginebra San Miguel, the group’s spirits business, posted a 7 percent rise in revenues to P32.2 billion, supported by better prices and stable volumes. Operating income rose 12 percent to P5.0 billion while net income grew 16 percent to P4.2 billion. EBITDA rose 17 percent to P5.6 billion.
