Strong Profitability and Resilience
Despite a 7% decline in revenues to PHP 1.1 trillion, SMC Group maintained strong profitability with operating income up 13% to PHP 137.4 billion and net income rising significantly to PHP 78.6 billion, driven by gains in fair valuation of investments and foreign exchange gains.
San Miguel Food and Beverage Performance
Consolidated net sales reached PHP 302.9 billion, up 4% from last year, with operating income rising 12% to PHP 44.7 billion and net income growing 11% to PHP 33.7 billion.
Petron Corporation Resilience
Despite a 10% decline in revenues due to lower crude prices, operating income increased 20% to PHP 26.6 billion, and net income surged 37% to PHP 9.7 billion.
Sustainability Recognition
SMC received recognition for sustainability initiatives, integrating ESG assessments into capital expenditure processes, and conducting climate risk evaluations.