San Miguel Corp Ord (SMGBF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. Welcome to the combined 2026 first semester results analyst briefing. I am Jericho and I will be your moderator for today. A few reminders before we begin. Number one, questions will be entertained only at the end of the presentation. and only via the Q&A feature. Number two, questions sent through the chat box will not be entertained. And number three, please be reminded that this webinar is recorded. Allow me now to introduce our panelists for this afternoon. We are joined here today by Ms. Jessica Tenorio, VP and Head of Corporate Financial Planning and Investor Relations, Ms. Tatish Pallabyab, SMC Chief Sustainability Advisor, Ms. Monica Ang Mercado, San Miguel Food and Beverage Incorporated CFO, Ms. Tina Garcia, SMFP Investor Relations Head, and Mr. Eric Peh Lim, Petron Corporation Investor Relations Head. We'd also like to acknowledge the presence of other key executives of the group who will be joining us in this call. I now turn you over to Ms. Cheska Tenorio to discuss the SMC Group's financial and operational results. Thank you, Jericho. Good afternoon and welcome to San Miguel Corporation's combined first half 2026 results analyst briefing. We are very pleased to report that despite a more challenging operating environment, the SMC Group delivered resilient first half results, demonstrating the strength of our diversified portfolio and the continued execution of our long-term growth strategy. Let me begin with an overview of the key developments and drivers behind our performance during the period. The first half of 2026 was marked by a more challenging operating environment in the Philippines, with GDP growth slowing to 2.3% in the second quarter and 2.6% for the first half. Weaker investment activity, softer consumer spending, e...