San Miguel Food and Beverage Inc. (SMFB) continued to overcome economic challenges in the first nine months of the year to post a healthy 6% increase in consolidated revenues to P276.7 billion.
The company’s strategic response to inflation and cost pressures along with higher volume growth resulted in a 4% rise in EBITDA and consolidated net income to P48.3 billion and P27.5 billion, respectively.
SMFB’s Beer business reported a 9% growth in consolidated sales to P108.3 billion, spurred by higher demand in both domestic and overseas markets.
Domestic sales climbed 9% to P96.3 billion due to effective marketing campaigns and expanded sales initiatives. Revenue from its international operations, on the other hand, rose 9%, driven by robust demand from its Exports, Hong Kong, and South China markets.
Beer business’ consolidated EBITDA was 12% higher than the same period last year at P29.4 billion, while consolidated net income was up 20% at P19.4 billion.
Meanwhile, its Spirits business remains on track for another good year with higher sales volume in the third quarter. Revenues grew 13% to P38.9 billion as a result of strategic pricing and effective promotions, among others. EBITDA and net income were up 48% and 62% at P7.4 billion and P5.5 billion, respectively.
SMFB’s Food business held steady amid inflationary pressures with revenues reaching P129.4 billion. Its outlook remains positive with anticipated cost benefits from declining raw material prices.
“Despite the constantly evolving market conditions, we remain committed to delivering sustained growth and value to all our stakeholders. Our confidence is rooted in the strength of our product portfolio and operational capabilities. More importantly, SMFB’s commitment to contributing to the nation’s food security remains as strong as ever, reflecting our dedication to playing a key role in our country’s growth and development,” Ramon S. Ang, President and CEO of SMFB, said
SMFB’s strong first nine months performance defy economic headwinds San Miguel Food and Beverage Inc. (SMFB) continued to overcome economic challenges in the first nine months of the year to post a healthy 6% increase in consolidated revenues to P276.7 billion.
The company’s strategic response to inflation and cost pressures along with higher volume growth resulted in a 4% rise in EBITDA and consolidated net income to P48.3 billion and P27.5 billion, respectively.
SMFB’s Beer business reported a 9% growth in consolidated sales to P108.3 billion, spurred by higher demand in both domestic and overseas markets.
Domestic sales climbed 9% to P96.3 billion due to effective marketing campaigns and expanded sales initiatives. Revenue from its international operations, on the other hand, rose 9%, driven by robust demand from its Exports, Hong Kong, and South China markets.
Beer business’ consolidated EBITDA was 12% higher than the same period last year at P29.4 billion, while consolidated net income was up 20% at P19.4 billion.
Meanwhile, its Spirits business remains on track for another good year with higher sales volume in the third quarter. Revenues grew 13% to P38.9 billion as a result of strategic pricing and effective promotions, among others. EBITDA and net income were up 48% and 62% at P7.4 billion and P5.5 billion, respectively.
SMFB’s Food business held steady amid inflationary pressures with revenues reaching P129.4 billion. Its outlook remains positive with anticipated cost benefits from declining raw material prices.
“Despite the constantly evolving market conditions, we remain committed to delivering sustained growth and value to all our stakeholders. Our confidence is rooted in the strength of our product portfolio and operational capabilities. More importantly, SMFB’s commitment to contributing to the nation’s food security remains as strong as ever, reflecting our dedication to playing a key role in our country’s growth and development,” Ramon S. Ang, President and CEO of SMFB, said.
