San Miguel Food & Beverage, Inc. · PSE:FB
San Miguel Food & Beverage — Q1 2024 Earnings Presentation
20 slides from San Miguel Food & Beverage's earnings presentation, May 16, 2024
Slide 1: SEC Form 17-C Current Report
5/17/24, 8:21 AM Material Information/Transactions C03269-2024 SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-C CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) May 16, 2024 2. SEC Identification Num
Slide 2: Item 9. Other Events - PSE Disclosure Form
5/17/24, 8:21 AM Material Information/Transactions ITEM 9. OTHER EVENTS The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitte
Slide 3: San Miguel Corporation Analysts' Briefing 2024 1st Quarter Results
SAN MIGUEL CORPORATION Analysts' Briefing 2 0 2 4 1 st Q U A R T E R R E S U L T S May 16, 2024
Slide 4: Executive Summary
| Executive Summary SMC received several efforts towards achieving its four overarching sustainability goals. SMC is off to a strong start in 2024 marked by robust demand in most of our business units while continuing to strike the good balance between maintaining volume growth and profitability. SM
Slide 5: 2023 Sustainability Milestones
| 2023 Sustainability Milestones Economic Environment Economic value generated and distributed 11%, 7% & 6% 5.7Mn MT 7.5B Liters Decreases in GHG emissions Of silt and waste Freshwater saved through P1,461 B+ P1,418 B+ intensity for Power, Petron, removed from Pasig, of economic of economic -carbon
Slide 6: 1Q2024 Sustainability Awards
| 1Q2024 Sustainability Awards 3G Excellence in 3G Championship Silver Award Silver Award Sustainability Award for CSR 2024 Empowerment of Best Community Reporting Award Women Programme 2024 |4
Slide 7: SMC started the year strong with consolidated revenues growing 13%
SMC started the year strong with consolidated revenues growing 13% 1Q2024 1Q2023 %Change % % % NET SALES 392,713 346,725 13% INCOME FROM 40,464 35,053 15% OPERATIONS NET INCOME 8,887 17,739 -50% NET INCOME 14,493 9,004 61% excluding FOREX Food and Beverage Power Petron Infrastructure Cement Packagin
Slide 8: SMFB sustained top-line growth
SMFB sustained top-line growth to 1Q2024 1Q2023 %Change %) % % NET SALES 95,432 93,186 2% INCOME FROM 13,119 11,581 13% OPERATIONS NET INCOME 9,974 9,876 1% Beer Food Spirits EBITDA dipped 3% to operating income grew by 13% fueled by increased sales in Food and Spirits Divisions. |6
Slide 9: Beer declined by 3% on lower volumes
declined by 3% on lower volumes 1Q2024 1Q2023 %Change %) % % NET SALES 37,367 38,335 (3%) INCOME FROM 8,131 8,438 (4%) OPERATIONS NET INCOME 6,514 6,819 (4%) |7
Slide 10: Spirits driven by effective brand campaigns
driven by effective brand campaigns 1Q2024 1Q2023 %Change % NET SALES 15,117 12,945 17% (28%) % INCOME FROM 2,278 1,631 40% OPERATIONS NET INCOME 1,907 2,532 (25%) |8
Slide 11: San Miguel Foods sustained topline growth and delivered strong profits
San Miguel Foods sustained topline growth and delivered strong profits on higher volumes and lower raw material costs across most businesses. 1Q2024 1Q2023 %Change 11% 8% NET SALES 42,950 41,908 2% INCOME FROM 2,730 1,531 78% OPERATIONS 1Q2023 1Q2024 NET INCOME 1,770 740 139% Prepared and Packaged F
Slide 12: Packaging results: lower demand for glass from SMB
for glass from SMB. 1Q2024 1Q2023 %Change % % NET SALES 8,407 10,195 (18%) INCOME FROM 696 803 (13%) OPERATIONS | 10
Slide 13: San Miguel Global Power revenues rose 7% on higher offtake
San Miguel Global Power revenues rose 7% on higher offtake 1Q2024 1Q2023 %Change % % % NET SALES 44,123 41,124 7% % INCOME FROM 8,840 7,575 17% OPERATIONS NET INCOME 1,547 5,345 -71% | 11
Slide 14: Broad-based growth lifted revenues by 21%
Broad-based growth recorded across all business segments lifted revenues by 21% 1Q2024 1Q2023 %Change % % % NET SALES 227,637 188,753 21% % INCOME FROM 10,171 8,418 21% OPERATIONS NET INCOME 3,933 3,399 16% Philippines Malaysia | 12
Slide 15: SMC Infrastructure posted a robust 9% revenue growth
SMC Infrastructure posted a robust 9% revenue growth on the back of sustained performance of its toll roads 1Q2024 1Q2023 %Change % % % % NET SALES 8,886 8,170 9% INCOME FROM 4,768 4,485 6% OPERATIONS 1Q2023 1Q2024 Skyway SLEX STAR TPLEX NAIAx Skyway S3 AADT reached 1.0 million vehicles buoyed by in
Slide 16: San Miguel Equity Investment Inc. operating profit grew 36%
San Miguel Equity Investment Inc. operating profit grew 36% 1Q2024 1Q2023 %Change % NET SALES 9,276 10,340 (10%) % INCOME FROM 1,811 1,333 36% OPERATIONS | 14
Slide 17: SMC sustained a strong balance sheet, with total assets at 2.5 trillion
SMC sustained a strong balance sheet, with total assets at 2.5 trillion March 31, 2024 December 31, 2023 Total Current Assets 837 831 Total Assets 2,508 2,459 Cash 270 261 Total Current Liabilities 805 745 Interest-bearing debt 1,441 1,405 Total Liabilities 1,843 1,794 Total Equity 665 665 | 15
Slide 18: 1Q2024 Business Highlights
| 1Q2024 Business Highlights As of March 31, 2024, the Manila International land development and ground improvement works are ongoing and progressing well; Overall progress for the LDW is at 79.5% while Airport development works is estimated to commence in 2025. On the Railway Component alone, perce
Slide 19: Q&A
Q&A OodOVood
Slide 20: Thank you!
Thank you! SMCInvestorRelatio ns@sanmiguel.com.ph w w w. s a n m i g u e l . c o m . p h C O R P O R AT E w w w. s m f b . c o m . p h WEBSITES w w w. s a n m i g u e l b r e w e r y. c o m . p h w w w. g i n e b r a s a n m i g u e l . c o m . p h w w w. p e t r o n . c o m w w w. s m c g l o b a l
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