San Miguel Food and Beverage posts 15% profit surge in H1 2025 on strong food sales
Higher demand for food products and efficiency gains drive San Miguel’s first-half profit growth despite mixed beverage results.
PHILIPPINES – San Miguel Food and Beverage Inc. (SMFB) recorded a 15% increase in net income to ₱23 billion (US$404.4M) for the first half of 2025, driven by strong food sales and improved cost management.
In a disclosure to the Philippine Stock Exchange, the company reported revenues of ₱201.2 billion, reflecting a 4% year-on-year growth. Operating income climbed 13% to ₱30 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₱39.3 billion (US$690.8M), with a margin of 20%.
SMFB Chair Ramon S. Ang noted that the company’s performance demonstrates operational strength and the successful execution of long-term strategic plans.
He emphasized SMFB’s ongoing commitment to expanding capacity, boosting efficiency, and enhancing accessibility of its products to Filipino households.
San Miguel Foods led the growth, generating ₱94.4 billion (US$1.7B) in revenues, a 7% rise from the previous year. The increase was supported by higher volumes and favorable pricing across major categories such as chicken, canned meats, spreads, and coffee.
Operating income from food operations surged 41% to ₱8.6 billion (US$151.2M), while net income from the segment jumped 53% to ₱6 billion (US$105.5M).
EBITDA for the food business reached ₱13.1 billion (US$228.5M), up 34%, due to stronger margins and productivity improvements.
San Miguel Brewery posted a 1% decline in revenues to ₱74.6 billion (US$1.3B), affected by softer domestic demand. However, international sales rose 2% to $144.8 million, with growth recorded in South China and Vietnam.
Despite the revenue dip, operating income in the beer segment increased 2% to ₱16.2 billion (US$284.8M), and net income improved 3% to ₱13 billion.
Ginebra San Miguel, the group’s spirits division, reported a 7% increase in revenues to ₱32.2 billion (US$566.1M), supported by improved pricing strategies and stable sales volumes. Operating income rose 12% to ₱5 billion, while net income expanded 16% to ₱4.2 billion.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
