San Miguel Corporation announced impressive financial growth for the first nine months of 2025, demonstrating robust operational performance across its diversified business portfolio.
Strong Financial Performance
The Philippine conglomerate reported a substantial 54 percent increase in core net income, reaching P60.3 billion for the period ending September 2025. This remarkable growth was primarily driven by enhanced operating efficiency and stringent cost control measures implemented throughout the company's operations.
Operating income showed healthy growth, climbing 13 percent to P137.4 billion, while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) expanded by 16 percent to P194.3 billion. These figures indicate strong underlying business performance despite some challenges in specific segments.
Mixed Results Across Business Units
Consolidated revenues experienced a decline to P1.1 trillion, attributed mainly to softer crude oil prices and the deconsolidation of selected power assets from the company's portfolio.
Petron Corporation, the oil refining and marketing subsidiary, posted a three percent increase in sales volumes, though revenue decreased by 10 percent. Despite this revenue contraction, Petron achieved a 37 percent jump in net income to P9.7 billion, reflecting improved margins and operational efficiency.
SMC Global Power witnessed a 23 percent drop in revenues but managed to increase operating income by four percent, thanks to higher contributions from its Battery Energy Storage Systems (BESS) operations.
Growth Drivers and Future Outlook
The infrastructure segment continued its positive trajectory with revenues growing seven percent, while the food and beverage business saw a four percent revenue increase. San Miguel Foods and Ginebra San Miguel were highlighted as key contributors to profitability in the food and beverage sector.
Chairman and CEO Ramon S. Ang expressed optimism about the company's prospects, stating that SMC anticipates stronger demand in the crucial fourth quarter. This positive outlook suggests confidence in the company's ability to maintain momentum through year-end.
The diversified nature of San Miguel Corporation's business portfolio has proven effective in navigating market challenges, with strengths in some sectors offsetting weaknesses in others. The company's focus on operational efficiency and cost management continues to yield significant financial benefits.
