SAN Miguel Food and Beverage, Inc. (SMFB) saw a 13-percent increase in consolidated net income to P46.3 billion in 2025, which it said was driven by record food business results, steady growth in spirits and higher international beer sales.
Consolidated revenues rose 5 percent year on year to P419.1 billion, the food and beverage arm of San Miguel Corp. said on Tuesday.
Gross profit grew 8 percent to P120.4 billion, operating income climbed 9 percent to P61.0 billion and earnings before interest, taxes, depreciation and amortization (Ebitda) increased 10 percent to P80.6 billion, lifting the Ebitda margin to 19 percent.
Net income attributable to equity holders of the parent rose 17 percent, reflecting stronger shareholder returns.
“2025 was a strong year for SMFB, and that is a credit to our people across the organization,” company Chairman Ramon Ang said.
“We will continue investing in our brands and operations so we can serve more Filipino families and deliver long-term value to our shareholders.”
The company said its food segment delivered record results, with revenues rising 6 percent to P196.3 billion and operating income climbing 30 percent to P17.3 billion.
Net income in the segment jumped 38 percent to P11.6 billion, fueled by strong demand for poultry and feeds, as well as solid sales from branded products including Magnolia Dairy and Coffee and Purefoods meats.
Meanwhile, the company’s beer business posted P155.4 billion in consolidated revenues, with international sales growing 3 percent to $285 million on higher sales volume.
Domestic beer revenues reached P139.1 billion while operating income and net income remained at P32.9 billion and P26.5 billion, respectively, supported by disciplined cost management and portfolio optimization.
The spirits segment sustained growth, with revenues climbing 8 percent to P67.4 billion, operating income rising 21 percent to P10.4 billion, and net income up 20 percent to P8.7 billion.
San Miguel Food and Beverage shares on Tuesday rose P1.10, or 2.13 percent, to close at P52.70 each amid a 2.01-percent advance for the benchmark Philippine Stock Exchange index.