San Miguel profits grow nearly five-fold in H1 2025

Diversified conglomerate San Miguel Corporation (SMC) saw its bottom line surge nearly five-fold in the first half of 2025 as its units delivered robust performances during the period.

In a statement on Tuesday, SMC said it posted a net income of P66.8 billion in January to June 2025 period from P13.6 billion in the same period last year year "boosted by foreign exchange gains and a valuation uplift on its 33% residual investment in the Ilijan power facility and Excellent Energy Resources Inc. (EERI) facilities."

"Our first-half results reflect the resilience and adaptability of our diverse portfolio. By staying focused on efficiency, discipline, and strategic priorities, we have sustained our growth momentum and continued to contribute to our country's progress," said SMC chairman and CEO Ramon Ang.

SMC's San Miguel Food and Beverage Inc. saw its revenues rise by 4% year-on-year to P201.2 billion.

Its power unit, San Miguel Global Power, posted a revenue of P80.1 billion, up 19% reflecting the impact of the Ilijan and EERI deconsolidation.

Petron Corporation reported a net income of P5.3 billion during the period.

SMC's cement business, which includes Eagle Cement, Northern Cement, and Southern Concrete Industries, generated consolidated net sales of P17.8 billion, down 6% from the comparable period last year, due to lower sales volumes and weaker average selling prices.

Moreover, SMC Infrastructure saw a 7% growth in revenues to P19.9 billion in the first half, on the back of a continued increase in average daily traffic at all its operating toll roads. — VDV, GMA Integrated News