San Miguel Corp. expects 2026 to outperform 2025, citing strong performance across all its business units.
Chairman and CEO Ramon S. Ang said every company under the conglomerate is profitable, expressing confidence that earnings will further improve this year. He added that strong holiday sales are expected to boost the company’s already solid growth momentum.
The company reported a 54 percent increase in core net income to ₱60.3 billion in the first nine months of 2025, driven by better operational efficiency and sustained cost management. Core net income excludes foreign exchange movements and one-time items.
Operating income rose 13 percent to ₱137.4 billion during the period.
Total consolidated revenues reached ₱1.1 trillion, slightly lower than the ₱1.2 trillion posted a year earlier. The decline was attributed to softer crude oil prices and the de-consolidation of certain power assets.
San Miguel said it remains focused on strengthening its core businesses and advancing major projects, positioning the conglomerate for stronger corporate performance in 2026.
