San Miguel Food and Beverage, Inc. (SMFB) reported that 2025 began with strong momentum, posting robust first quarter results driven by sustained demand, improved efficiencies, and disciplined cost management.
For the period ending March 31, 2025, the SMC’s subsidiary said that its consolidated revenues rose 4 percent year-on-year to PHP98.9 billion. Gross profit grew 11 percent to PHP28.6 billion, while income from operations rose 16 percent to PHP15.2 billion. Net income reached PHP11.6 billion, up 16 percent, with EBITDA increasing to PHP19.6 billion, translating to a 20 percent EBITDA margin.
“Our results this quarter reflect the strength of our diversified portfolio and our continued focus on execution,” said SMFB Chairman Ramon S. Ang. “We are optimistic about the rest of the year. Our continued investments in key growth areas, from expanding production capacities to strengthening our distribution network, are designed to meet the evolving needs of the Filipino consumer. With our strong brands and disciplined execution, we are well-positioned to sustain our growth trajectory in 2025 and beyond.”
Broken down, revenues from San Miguel Foods reached PHP46.3 billion, up 8 percent from the previous year. The business delivered a strong start to 2025, driven by high-teens growth in poultry and steady performance across the Purefoods processed meats, Magnolia dairy and coffee, and flour. Gross profit rose 22 percent to ₱10.6 billion, reflecting improved efficiencies and a favorable mix. Operating income grew 70 percent to ₱4.4 billion, while net income surged 83 percent to ₱3.0 billion.
Meanwhile,San Miguel Brewery Inc. generated sales of PHP36.3 billion, with domestic revenues at PHP32.0 billion and international sales at US$74.9 million. Despite tempered market conditions, the Beer business sustained healthy earnings through improved operating performance. Gross profit reached PHP13.9 billion. Operating income rose 1 percent to PHP8.2 billion, while net income improved to PHP6.6 billion.
For spirits, its unit Ginebra San Miguel Inc. posted revenues of PHP16.3 billion, up 8 percent year-on-year, supported by sustained consumer demand and efforts to reach a broader base of customers. Gross profit increased 10 percent to PHP4.1 billion. Operating income rose 8 percent to PHP2.5 billion, while net income grew 11 percent to PHP2.1 billion. The Spirits business continues to benefit from ongoing brand investments that strengthen market presence and drive profitability.
