San Miguel Food and Beverage Inc. (SMFB) reported consolidated net income of P33.7 billion for the first nine months of 2025, up 11% from the same period last year, driven by strong performances across its food, beer, and spirits divisions.
Consolidated revenues rose 4% to P302.9 billion, supported by firm demand, efficient pricing, and sustained brand initiatives despite weather-related disruptions during the period. Operating income grew 12% to P44.7 billion, while EBITDA climbed 13% to P58.4 billion, improving margins to 19%.
“Our performance shows the effectiveness of our strategy to grow across multiple segments and markets,” SMFB Chairman Ramon S. Ang said. “We will continue to strengthen our supply chain, improve productivity, and expand capacity to capture more opportunities and deliver long-term value for our consumers and shareholders.”
Food leads growth
San Miguel Foods posted P143.5 billion in revenues, up 7% year-on-year, as volumes and demand rose across key categories including dairy and coffee, poultry, and prepared and packaged food. The company marked the 100th anniversary of the Magnolia brand with nationwide campaigns highlighting its legacy. Operating income grew 32% to P12.9 billion, while EBITDA increased 27% to P20.0 billion, aided by margin improvements and cost discipline.
Beer remains steady
San Miguel Brewery reported P110.7 billion in revenues, supported by growth in international markets and stable domestic sales. It celebrated its 135th anniversary with events including San Miguel Oktoberfest and the release of a San Miguel Pale Pilsen 135th Heritage limited-edition can. Operating income rose 2% to P23.9 billion, while EBITDA was up 4% to P30.0 billion, reflecting sustained profitability and effective cost management.
Spirits unit maintains strong performance
Ginebra San Miguel Inc. posted a 7% rise in revenues to P48.7 billion, supported by brand campaigns, efficiency gains, and disciplined execution. The company’s initiatives included Kabayani Kita sa One Ginebra Nation and nationwide Ginumanfest events to reinforce market presence. Operating income climbed 19% to P7.5 billion, and EBITDA rose 19% to P8.4 billion, driven by stable volumes and improved efficiency.
SMFB said it remains in a solid financial position, supported by steady earnings and prudent capital management, while keeping flexibility to pursue growth opportunities and strategic investments.
