San Miguel Food and Beverage Inc. (SMFB) reported a 7 percent increase in net income for 2024, reaching P40.9 billion, up from P38.1 billion in the previous year. The growth was driven by a 6 percent rise in consolidated sales, reaching P400.9 billion, supported by higher volumes and strategic market expansion.
Chairman Ramon S. Ang credited the company’s strong brand portfolio, operational efficiency, and disciplined growth strategies for the positive results. “We continue to invest in innovation, expand our market reach, and optimize efficiencies to drive sustainable, long-term value for all our stakeholders,” he said.
Performance highlights include a 3 percent growth in sales for San Miguel Foods, which reached P185 billion, with significant contributions from prepared and packaged foods, including Purefoods Tender Juicy Hotdogs and Magnolia Dairy. San Miguel Foods also saw a 37 percent increase in operating income and a 33 percent jump in net income.
San Miguel Brewery Inc. achieved a 4 percent growth in sales, totaling P153.4 billion, while net income rose by 1 percent to P25.6 billion. Domestic sales remained strong, totaling P137.6 billion, and international sales grew to $276.5 million.
Ginebra San Miguel Inc. reported an impressive 17 percent surge in sales to P62.5 billion, driven by a 9 percent rise in volume and increased demand across diverse consumer segments. Operating income grew 26 percent, while net income saw a 3 percent increase.
Despite evolving market conditions, SMFB’s performance underscores its robust position in the market, reflecting effective strategic execution and brand strength.
