San Miguel Food and Beverage Inc. (SMFB) said it delivered another year of solid growth in 2024, with strong financial performance across its core businesses.
Despite evolving market conditions, the company said it remained resilient, leveraging strategic investments, operational efficiencies and sustained consumer demand to drive revenue and profitability.
SMFB’s consolidated sales rose 6 percent year-on-year to P400.9 billion, fueled by higher volumes and market expansion initiatives.
Gross profit increased 10 percent to P110.9 billion, supported by cost efficiencies and a favorable product mix.
Income from operations grew 15 percent to P55.8 billion, while net income rose 7 percent to P40.9 billion, reflecting SMFB’s ability to sustain earnings growth.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) stood at P73.1 billion, maintaining an 18 percent margin.
“Our performance in 2024 reflects the strength of our brands, operational excellence, and disciplined execution of our growth strategies,” said SMFB chairman Ramon Ang.
“We continue to invest in innovation, expand our market reach, and optimize efficiencies to drive sustainable, long-term value for all our stakeholders,” said Ang.
Sales of San Miguel Foods rose 3 percent to P185 billion, with growth led by Prepared and Packaged Food, up 12 percent, driven by strong demand for Purefoods Tender Juicy Hotdogs, Magnolia dairy, and San Mig Coffee.
The business reported a 37-percent increase in operating income to P13.3 billion and 33-percent growth in net income to P8.4 billion, supported by efficient operations and moderate cost increases.
