Slide 1: SEC Form 17-C Current Report
C01705-2025 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) Mar 17, 2025 2. SEC Identification Number 31171 3. BIR Tax Identification No. 000-168-801
Slide 2: PSE Disclosure Form: Analysts' Briefing Materials
PCOR SERIES E BONDS DUE 2025 (IN MIL 9,000 PESO) PCOR SERIES F BONDS DUE 2027 (IN MIL 9,000 PESO) TOTAL DEBT AS OF DEC 31, 2024 (IN MIL 256,349 PESO-CONSO) 11. Indicate the item numbers reported herein Item 9 The Exchange does not warrant and holds no responsibility for the veracity of the facts and
Slide 3: Filed on behalf by
Filed on behalf by: Name Jhoanna Jasmine Javier-Elacio Designation Vice President - General Counsel and Corporate Secretary/Compliance Officer
Slide 4: Cover letter to PSE and PDEx
March 17, 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 Equitabl
Slide 5: San Miguel Corporation Analysts' Briefing 2024 Full Year Results
SAN MIGUEL CORPORATION Analysts' Briefing 2024 FULL YEAR RESULTS MARCH 17, 2025 1
Slide 6: Executive Summary
| Executive Summary » SMC is on track with its Net Zero goal while actual progress has been gradual. The Company’s three most carbon-intensive businesses – Power, Petron and Cement, have been showing reductions in their emission intensity, driven by ongoing improvements in energy efficiency across t
Slide 7: 2024 Sustainability Milestones
2024 Sustainability Milestones Submitted SMC’s 2024 Published SMC’s 2024 Launched SMC’s first Training on Energy Sustainability Report to SEC Glossy Sustainability Report Sustainability Forum Management Systems and Expo for Various Facilities April June Oct Nov Nov-Dec March-Dec SMC Board
Slide 8: SMC records strong operating income with a double-digit growth of 11%
SMC records strong operating income with a double-digit growth of 11% EBITDA (In Million Php) FY2024 FY2023 %Change (In Million Php) 10% 14% 225,877 Margin 14% 205,346 Margin 4% NET SALES 1,575,379 1,447,681 9% 4% 4% 5% 13% 13% 19% 22% INCOME FROM OPERATIONS 160,816 144,485 11% 25% 21% 2% 2% REPORTE
Slide 9: SMFB delivers strong double-digit growth in Operating Income
SMFB delivers strong double-digit growth in Operating Income EBITDA (In Million Php) FY2024 FY2023 %Change (In Million Php) 9% 18% 73,077 Margin 18% 66,822 Margin NET SALES 400,872 379,822 6% 13% 14% 30% 28% INCOME FROM OPERATIONS 55,792 48,411 15% 58% 57% FY2023 FY2024 NET INCOME 40,933 38,105 7% B
Slide 10: SMB posts solid growth in operating income, up 6%
SMB posts solid growth in operating income, up 6% (In Million Php) FY2024 FY2023 %Change EBITDA (in Million Php) 7% 27% 41,753 Margin 27% NET SALES 153,362 147,347 4% 39,050 Margin INCOME FROM OPERATIONS 33,422 31,408 6% NET INCOME 25,625 25,322 1% FY2023 FY2024 SMB’s EBITDA grew 7% to ₱41.8 billion
Slide 11: GSMI achieves strong 17% revenue growth on record-high volumes
GSMI achieves strong 17% revenue growth on record-high volumes (In Million Php) FY2024 FY2023 %Change EBITDA (in Million Php) 1% NET SALES 62,505 53,639 17% 9,546 15% Margin 18% Margin 9,423 INCOME FROM OPERATIONS 8,596 6,835 26% NET INCOME 7,257 7,046 3% FY2023 FY2024 GSMI’s EBITDA grew 1% to ₱9.5
Slide 12: San Miguel Foods delivers strong performance with 3% revenue growth
San Miguel Foods delivers strong performance with 3% revenue growth EBITDA (In Million Php) (In Million Php) FY2024 FY2023 %Change 19% 12% 10% 21,338 Margin 17,920 Margin 2% NET SALES 185,016 178,847 3% 12% 5% 10% 36% 37% INCOME FROM OPERATIONS 13,301 9,724 37% 18% 15% 33% 32% NET INCOME 8,386 6,304
Slide 13: Strategic Expansion: Investing in Growth and Innovation
Strategic Expansion: Investing in Growth and Innovation Driving growth through strategic investments—expanding capacity, modernizing operations, and strengthening our market presence to create long-term value. |9
Slide 14: Packaging Group's operating income surged 36%
SMC’s Packaging Group’s operating income surged 36% on improved efficiencies, higher utilization, and cost reduction programs (In Million Php) FY2024 FY2023 %Change EBITDA (In Million Php) 16% 13% NET SALES 40,162 38,379 5% 5,235 Margin 4,501 12% INCOME FROM Margin 2,600 1,915 36% OPERATIONS FY2023
Slide 15: San Miguel Global Power's operating income rose 24% on higher volumes
San Miguel Global Power’s operating income rose 24% on higher volumes (In Million Php) FY2024 FY2023 %Change EBITDA Offtake Volumes (in Million Php) (in GWh) 27% NET SALES 205,091 169,590 21% 27% Margin 45% INCOME FROM 55,533 40,457 32,526 24% 26% 36,564 OPERATIONS Margin 43,769 NET INCOME 12,384 9,
Slide 16: Petron's sustained volume growth uplifts topline performance
Petron’s sustained volume growth uplifts topline performance, rising 8% Y-o-Y to ₱868 million (In Million Php) FY2024 FY2023 %Change EBITDA Fuel Volumes (In Million Barrels) (in Million Php) 10% NET SALES 867,966 801,027 8% 139.9 INCOME FROM 44,945 4% 126.9 6% 29,223 30,721 (5%) Margin 43,076 34% OP
Slide 17: SMC Infrastructure's revenues grew 7% on sustained volumes
SMC Infrastructure’s revenues grew 7% on sustained volumes EBITDA (in Million Php) Annual Average Daily Traffic (Vehicle Count) (In Million Php) FY2024 FY2023 %Change 2% 8% 79% 1,009,337 1,033,103 Margin 79% NET SALES 37,523 34,984 7% Margin 27,557 29,736 INCOME FROM OPERATIONS 20,291 18,164 12% FY2
Slide 18: Cement Business recorded a 10% growth in operating income
San Miguel Equity Investment Inc. – Cement Business’ recorded a 10% growth in operating income (In Million Php) FY2024 FY2023 %Change EBITDA (in Million Php) NET SALES 34,934 37,231 (6%) 1% 28% INCOME FROM Margin 6,550 5,980 10% 9,663 OPERATIONS 9,526 26% Margin FY2023 FY2024 Influx of imported trad
Slide 19: SMC Financial Position
SMC maintained a robust balance sheet, with total assets reaching ₱2.7 trillion SMC Financial Position (In Billion Php) December 31, 2024 December 31, 2023 Cash 294 261 Total Current Assets 900 831 Total Assets 2,677 2,459 Interest-bearing debt 1,560 1,405 Total Current Liabilities 737 745 Total Lia
Slide 20: FY2024 Business Updates & Outlook
| FY2024 Business Updates & Outlook » Despite global headwinds, SMC continues to progress with its ongoing plans and expansion, driven by resilient consumer demand. » After the Concession Agreement was signed on March 18, 2024, and the operation of NAIA was turned over by the Manila International Ai
Slide 21: Q&A
Q&A OOOO
Slide 22: Thank you!
Thank you! SMCInvestorRelations@sanmiguel.com.ph C O R P O R AT E w w w. s a n m i g u e l . c o m . p h 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