SAN MIGUEL Food and Beverage, Inc. (SMFB), the food and beverage subsidiary of San Miguel Corp. (SMC), reported a consolidated net income of P46.3 billion for 2025, a 13.2% increase from the P40.9 billion recorded in 2024.
This performance was supported by growth within the food segment, continued expansion in spirits, and increased international beer sales, the corporate said in an announcement on Tuesday. The corporate has yet to release its full financial report for 2025.
“2025 was a powerful yr for SMFB, and that may be a credit to our people across the organization. We’ll proceed investing in our brands and operations so we are able to serve more Filipino families and deliver long-term value to our shareholders,” SMFB Chairman Ramon S. Ang said.
Consolidated revenues for the yr rose 4.54% to P419.1 billion, while income from operations grew by 9.32% to P61 billion.
Attributable net income rose by 17%, which the corporate said reflected improved returns for shareholders.
The food segment was a primary contributor to the corporate’s profit growth, with net income rising 38% to P11.6 billion.
Operating income for the segment increased by 30% to P17.3 billion, and revenues grew 6% to P196.3 billion.
In keeping with the corporate, this growth was driven by improved performance within the feeds business and robust demand for poultry.
The corporate’s branded businesses also reported solid results, particularly Magnolia Dairy and Coffee and Purefoods meats, which saw higher sales of products comparable to corned beef, luncheon meat, and various processed meats.
Within the beer segment, consolidated revenues remained stable at P155.4 billion, matching the previous yr’s performance.
International beer revenues grew 3% to $285 million, supported by higher sales volumes.
Nonetheless, domestic beer revenues, which totaled P139.1 billion, were affected by continued pressure on consumer spending and successive increases in excise taxes since 2020.
To take care of an operating income of P32.9 billion and a domestic net income of P26.5 billion, the corporate said it employed cost management, portfolio optimization, and targeted consumer engagement.
The spirits segment continued its upward trend, with revenues increasing by 8% to P67.4 billion.
The corporate attributed this growth to regular volumes and effective pricing strategies.
On Tuesday, SMFB’s share price increased by 2.13% to P52.70. — Alexandria Grace C. Magno