San Miguel Corporation · PSE:SMC
San Miguel — H1 2025 Earnings Presentation
23 slides from San Miguel's earnings presentation, Aug 12, 2025
Slide 1: SEC Form 17-C Current Report
C05950-2025 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) Aug 12, 2025 2. SEC Identification Number 31171 3. BIR Tax Identification No. 000-168-801
Slide 2: PSE Disclosure Form - Material Information
PCOR SERIES E BONDS DUE 2025 (IN 9,000,000,000 PESOS) PCOR SERIES F BONDS DUE 2027 (IN 9,000,000,000 PESOS) PCOR SERIES G BONDS DUE 2030 (IN 15,910,000,000 PESOS) PCOR SERIES H BONDS DUE 2032 (IN 4,604,000,000 PESOS) PCOR SERIES I BONDS DUE 2035 (IN 11,486,000,000 PESOS) TOTAL DEBT AS OF JUNE 30, 20
Slide 3: Filing letter notice
Please see attached letter dated August 12, 2025. Filed on behalf by: Name Jhoanna Jasmine Javier-Elacio Designation Vice President - General Counsel and Corporate Secretary/Compliance Officer
Slide 4: Letter to PSE: SMC Analysts' Briefing
August 12, 2025 PETRON PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department 6™ Floor, PSE Tower 5" Avenue corner 28" Street Bonifacio Global City, Taguig City Attention: Atty. Johanne Daniel M. Negre Officer-in-Charge, Disclosure Department PHILIPPINE DEALING & EXCHANGE CORP. 29™ Floor, BDO Equitab
Slide 5: Analysts' Briefing 2025 First Semester Results
2025 1 st SEMESTER RESULTS ANALYSTS’ BRIEFING AUGUST 12, 2025
Slide 6: Executive summary
| Executive summary » The Philippine economy showed resilience with a 5.5% GDP growth in Q2, supported by strong agriculture and household consumption amid low inflation and eased monetary policy. Against this backdrop, the SMC Group sustained profitability and expanded margins through cost efficien
Slide 7: SMC maintains strong profitability with operating income rising 3%
SMC maintains its strong profitability with operating income rising 3% to P87.7 billion. (In Million Php) 1H2025 1H2024 %Change EBITDA (in Million PHP) Net Sales 718,205 789,021 (9%) 126,341 113,689 11% 5% 2% 2% Income from 2% 5% 13% 4% 18% 87,658 85,089 3% 13% Margin Operations 14% 18% 21% Margin 2
Slide 8: SMFB's strong first-half results
SMFB’s strong first-half results driven by higher sales, improved margins, and cost efficiencies. EBITDA (In Million Php) 1H2025 1H2024 %Change (in Million Php) Net Sales 201,200 192,882 4% 16% 39,256 33,928 20% Income 18% 14% Margin 14% 30% Margin 34% from 30,041 26,641 13% Operations 56% 52% Net I
Slide 9: SMB posts stable net sales with higher operating income
SMB posts stable net sales with higher operating income in 1H2025. EBITDA (in Million Php) (In Million Php) 1H2025 1H2024 %Change 6% 27% Margin Net Sales 74,588 75,073 (1%) 26% Income Margin 20,341 from 16,214 15,887 2% 19,152 Operations Net Income 12,984 12,563 3% 1H2024 1H2025 EBITDA rose 6% to P2
Slide 10: GSMI delivers robust top line and earnings gains
GSMI delivers robust top line and earnings gains. EBITDA (in Million Php) (In Million Php) 1H2025 1H2024 %Change 17% 17% Margin Net Sales 32,235 29,992 7% Income from 4,952 4,411 12% 16% 4,821 Margin 5,622 Operations Net Income 4,247 3,676 16% 1H2024 1H2025 EBITDA grew 17% to P5.6 billion on the bac
Slide 11: SMF recorded double-digit growth across key metrics
SMF recorded double-digit growth across key metrics in 1H2025. EBITDA (In Million Php) 1H2025 1H2024 %Change (In Million Php) 34% 13,085 Net Sales 94,379 87,819 7% 1% 14% 9,742 13% Margin 17% Income 1% 14% 11% Margin from 8,648 6,127 41% 21% 28% Operations 35% 41% 29% Net Income 5,994 3,920 53% 1H20
Slide 12: Petron Corporation's operating income reached P15.1bn
Petron Corporation’s operating income reached P15.1bn in 1H2025. Fuel Volumes (In Million Barrels) (In Million Php) 1H2025 1H2024 %Change 3% 386,395 444,490 (13%) 54.7 56.2 Net Sales 45% 42% Income from 15,146 17,449 (13%) Operations 55% 58% Net Income 5,252 6,098 (14%) 1H2024 1H2025 EBITDA 23,057 2
Slide 13: Packaging Group's operating income grew 17%
The Packaging Group’s operating income grew 17% to P1.6 billion. EBITDA (In Million Php) 6% (In Million Php) 1H2025 1H2024 %Change 14% 14% Margin Margin Revenue 19,284 17,974 7% 2,769 2,605 Income from 1,592 1,362 17% Operations 1H2024 1H2025 Cost savings programs and volume improvements led to the
Slide 14: SMGP's EBITDA rose 14% on improved margins
SMGP’s EBITDA rose by 14% to P34.4 billion on improved margins. EBITDA (in Million Php) (In Million Php) 1H2025 1H2024 %Change 14% 43% Net Sales 80,147 98,944 (19%) 34,410 Margin 30% 30,147 Margin Income from 22,120 22,988 (4%) Operations Net Income 34,573 7,438 365% 1H2024 1H2025 EBITDA and operati
Slide 15: SMC Infrastructure posted 7% revenue increase
SMC Infrastructure posted a 7% revenue increase buoyed by average daily traffic growth. Average Daily Traffic EBITDA (Vehicle Count) (in Million Php) 4% (In Million Php) 1H2025 1H2024 %Change 1,034,081 1,077,148 8% 79% 80% Margin Margin Revenue 19,857 18,493 7% Income 14,678 15,841 from 11,142 9,856
Slide 16: Cement business revenues fell on pricing pressures
The Cement Business’ revenues fell to P17.8bn due to pricing pressures. EBITDA (in Million Php) (In Million Php) 1H2025 1H2024 %Change 3% 28% 29% Margin Margin Net Sales 17,822 18,962 (6%) 5,375 5,235 Income from 3,493 3,952 (12%) Operations 1H2024 1H2025 Despite the decline in EBITDA, margin improv
Slide 17: SMC maintained a robust balance sheet
SMC maintained a robust balance sheet with total assets amounting to P2.6 trillion. (In Billion Php) June 30, 2025 December 31, 2024 Cash 321 294 Total Current Assets 861 900 Total Assets 2,618 2,677 Interest-bearing debt 1,504 1,560 Total Current Liabilities 637 737 Total Liabilities 1,880 2,000 To
Slide 18: Highlights of SMC 1H2025 Sustainability Performance
Highlights of SMC 1H2025 Sustainability Performance 3G Leadership Award in CSR 2025 and Published 2024 Sustainability Report 3G Best Sustainability Reporting 2025 https://sanmiguel.com.ph/smcannualreport2024/ SMC_2024_SUSTAINABILITY_REPORT.pdf
Slide 19: Driving Sustainable Change: Roadmap to Net Zero
Highlights of SMC 1H2025 Sustainability Performance Driving Sustainable Change Achieving 2041-2050 Net Zero 2031-2040 Scaling Up Laying the 2024-2030 Foundation Roadmap to Net Zero Physical Climate Risk Assessment
Slide 20: Driving Sustainable Change: Supplier Sustainability Forums
Highlights of SMC 1H2025 Sustainability Performance Driving Sustainable Change Supplier Sustainability Forums – with Food, GSMI, and Corporate Suppliers
Slide 21: 1H2025 Business Updates & Outlook
| 1H2025 Business Updates & Outlook » SMC is pressing ahead with its growth and expansion strategy, backed by solid operating performance and steady consumer demand, even amid global economic challenges. » Progress on the Manila International Airport's land development and ground improvement works a
Slide 22: Q&A
Q&A | 18
Slide 23: Investor relations contacts and corporate websites
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