San Miguel Food & Beverage, Inc. · PSE:FB
San Miguel Food & Beverage — FY2025 Earnings Presentation
23 slides from San Miguel Food & Beverage's earnings presentation, Mar 16, 2026
Slide 1: SEC Form 17-C Current Report
C01769-2026 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) Mar 16, 2026 2. SEC Identification Number 11840 3. BIR Tax Identification No. 000-100-341
Slide 2: PSE Disclosure Form 4-30 - Material Information/Transactions
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 submitted by the disclosing party to the Exchange, and are disseminated solely f
Slide 3: 2025 Full Year Results Analysts' Briefing
2025 FULL YEAR RESULTS ANALYSTS’ BRIEFING MARCH 16, 2026
Slide 4: Executive summary
| Executive summary » The Philippine economy slowed in late 2025, with fourth-quarter GDP growth at 3% amid weaker demand, weather disruptions, and reduced government spending linked to corruption scandals, bringing full-year growth to 4.4%, down from 5.7% in 2024 and marking the slowest post-pandem
Slide 5: SMC posted 52% core net income growth to P79.6 billion
SMC posted 52% core net income growth to P79.6 billion (In Million Php) FY2025 FY2024 %Change EBITDA (in Million PHP) 225,877 16% 262,046 Net Sales 1,485,345 1,575,379 (6%) 4% 5% 2% 2% 18% 4% 4% Margin 13% 12% Margin Income from 181,586 160,816 13% 19% 20% Operations 25% 27% Net Income 94,678 36,675
Slide 6: SMFB sustained revenue growth of 5% to P419.1 billion
SMFB sustained revenue growth of 5% to P419.1 billion EBITDA (In Million Php) FY2025 FY2024 %Change (in Million PHP) 80,639 73,077 10% 14% Net Sales 419,060 400,872 5% 13% 19% 30% 18% 33% Margin Margin Income from 61,040 55,792 9% 57% 53% Operations FY2024 FY2025 Net Income 46,280 40,933 13% Beer Fo
Slide 7: SMF's net income surged 38% to P11.6 billion
SMF’s net income surged 38% to P11.6 billion (In Million Php) FY2025 FY2024 %Change EBITDA (in Million PHP) 26,304 4% 21,338 23% Net Sales 196,280 185,016 6% 6% 12% 16% 12% 13% 14% Margin 12% 28% Margin Income from 32% 17,315 13,301 30% Operations 40% 36% FY2024 FY2025 Net Income 11,594 8,386 38% Pr
Slide 8: SMB delivered sustained earnings growth of 3% to P26.5 billion
SMB delivered sustained earnings growth of 3% to P26.5 billion (In Million Php) FY2025 FY2024 %Change EBITDA (in Million PHP) 1% Net Sales 155,437 153,362 1% 27% 27% Margin Margin Income from 41,753 42,309 32,859 33,422 (2%) Operations Net Income 26,494 25,625 3% FY2024 FY2025 Favorable pricing, rob
Slide 9: GSMI's operating income grew 21% to P10.4 billion
GSMI’s operating income grew 21% to P10.4 billion (In Million Php) FY2025 FY2024 %Change EBITDA (in Million PHP) 21% Net Sales 67,354 62,505 8% 17% Margin 15% Margin 11,585 Income from 9,546 10,380 8,596 21% Operations Net Income 8,677 7,257 20% FY2024 FY2025 Favorable pricing, lower costs, and impr
Slide 10: Petron delivers record-high net income, up 84% to P15.6 billion
Petron delivers record-high net income, up 84% to P15.6 billion (In Million Php) FY2025 FY2024 %Change Fuel Volumes (In Million Barrels) 110.0 113.4 Net Sales 809,766 867,966 (7%) 3% 43% 42% Income from 37,323 29,223 28% Operations 57% 58% EBITDA 52,350 43,076 22% FY2024 FY2025 Net Income 15,627 8,4
Slide 11: Packaging Group posted stable performance, operating income up 4%
The Packaging Group posted stable performance, with operating income increasing by 4% EBITDA (In Million Php) (In Million Php) FY2025 FY2024 %Change -0.5% 13% 13% Margin Revenue 40,359 40,162 0% Margin 5,235 5,209 Income from 2,694 2,600 4% Operations FY2024 FY2025 Cost containment measures and oper
Slide 12: SMGP's EBITDA improved by 27% to P70.5 billion
SMGP’s EBITDA improved by 27% to P70.5 billion (In Million Php) FY2025 FY2024 %Change EBITDA (in Million PHP) 27% Net Sales 157,208 205,091 (23%) 45% Margin 27% Margin 70,452 Income from 43,770 40,457 8% 55,533 Operations Net Income 48,306 12,384 290% FY2024 FY2025 Strong volumes from Masinloc and t
Slide 13: SMC Infrastructure's operating income grew 9% to P22.1 billion
SMC Infrastructure’s operating income grew 9% to P22.1 billion Average Daily Traffic (Vehicle Count) EBITDA (In Million Php) FY2025 FY2024 %Change (in Million PHP) 5% 1,079,889 8% 1,033,104 Net Sales 40,152 37,523 7% 80% Margin 79% Margin 32,030 Income from 29,736 22,081 20,291 9% Operations FY2024
Slide 14: Cement Business sustained margins through operational efficiencies
The Cement Business sustained margins through operational efficiencies EBITDA (in Million Php) (In Million Php) FY2025 FY2024 %Change 28% -4% Margin 28% Margin Net Sales 33,163 34,934 (5%) Income from 6,287 6,550 (4%) 9,663 9,251 Operations FY2024 FY2025 Despite heightened competition and muted dema
Slide 15: SMC closed 2025 with a robust balance sheet
SMC closed 2025 with a robust balance sheet, with total assets reaching P2.7 trillion (In Billion Php) December 31, 2025 December 31, 2024 Cash 351 294 Total Current Assets 883 900 Total Assets 2,726 2,677 Interest-bearing debt 1,588 1,560 Total Current Liabilities 715 737 Total Liabilities 1,979 2,
Slide 16: Sustainability Update Full Year 2025
Sustainability Update SUSTAINABILITY UPDATE Full Year 2025 | 14
Slide 17: Sustainability — Strategic Progress
Sustainability — Strategic Progress 1 Climate Risk Assessment (Completed Oct 2025) • Completed the assessment of physical climate hazards for SMC’s major operating assets using a combination of historical occurrences and a range of future climate scenarios • Most significant risks are tropical cyclo
Slide 18: Sustainability — Governance and Capability Building
Sustainability — Governance and Capability Building Carbon Markets Workshop A Carbon Markets Workshop was conducted in September 2025 for corporate and business unit leadership to enhance understanding of carbon pricing, trading mechanisms, and investment implications. Supplier Sustainability Forums
Slide 19: SMC's Sustainability Impact Recognized Through Prestigious Awards
SMC’s Sustainability Impact Recognized Through Prestigious Awards The Asset ESG Corporate Awards 2025 Asian Water Awards 2025 › Best Initiative in Social Responsibility: Happy si › Water Conservation Initiative of the Year (PH): NCC Mommy, Malusog si Baby › Outstanding Water Resources Contribution (
Slide 20: 2026 Outlook: Advancing Sustainability Goals
2026 Outlook: Advancing Sustainability Goals Refine Roadmaps to our 4 Priority Expected Sustainability Goals Focus Areas Outcomes 1 Collaboration with the 1 Expansion of renewable 1 Concrete steps towards Business Units on their energy capacity decarbonization respective roadmaps and metrics 2 Autom
Slide 21: FY2025 Business Updates & Outlook
| FY2025 Business Updates & Outlook » The Food business delivered a record performance in 2025, achieving its highest revenues, operating income, and net income to date. The Beer business is strengthening its operational footprint with the commissioning of the Bataan Malt Terminal and the installati
Slide 22: Q&A
Q&A ff omer 2
Slide 23: Investor Relations Contacts
SMCInvestorRelations@sanmiguel.com.ph C O R P O R AT E W E B S I T E S www.sanmiguel.com.ph www.smfb.com.ph www.sanmiguelbrewery.com.ph www.ginebrasanmiguel.com.ph www.petron.com www.smcglobalpower.com.ph I N V E S T O R R E L AT I O N S +632 8632 3581 (SMC) +632 8632 3417 (SMFB) +632 8884 9265 (PET
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