San Miguel Income Statement

Financials in millions PHP. Fiscal year is January - December.

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Revenue	1,543,577	1,575,379	1,446,703	1,506,591	941,193	725,797	Upgrade
Revenue Growth (YoY)	3.41%	8.89%	-3.98%	60.07%	29.68%	-28.88%	Upgrade
Cost of Revenue	1,279,668	1,316,720	1,212,489	1,318,245	754,125	576,832	Upgrade
Gross Profit	263,909	258,659	234,214	188,346	187,068	148,965	Upgrade
Selling, General & Admin	76,823	76,714	71,134	63,984	60,474	58,861	Upgrade
Research & Development	89	89	80	45	38	50	Upgrade
Other Operating Expenses	-30,078	2,107	3,478	17	3,534	6,998	Upgrade
Operating Expenses	59,739	91,815	87,159	75,442	74,546	76,396	Upgrade
Operating Income	204,170	166,844	147,055	112,904	112,522	72,569	Upgrade
Interest Expense	-96,424	-95,326	-86,800	-57,093	-45,521	-49,012	Upgrade
Interest & Investment Income	15,407	15,034	14,052	8,460	6,265	7,526	Upgrade
Earnings From Equity Investments	3,963	2,364	1,729	1,197	1,040	417	Upgrade
Currency Exchange Gain (Loss)	-20,514	-20,514	2,485	-21,518	-4,846	5,444	Upgrade
Other Non Operating Income (Expenses)	-6,410	-6,410	-4,822	-3,817	-3,289	-4,126	Upgrade
EBT Excluding Unusual Items	100,192	61,992	73,699	40,133	66,171	32,818	Upgrade
Impairment of Goodwill	-	-	-188	-789	-	-	Upgrade
Gain (Loss) on Sale of Investments	2,175	2,175	83	733	167	403	Upgrade
Gain (Loss) on Sale of Assets	452	-	-	-	-	-	Upgrade
Asset Writedown	-	-	-487	-	-386	192	Upgrade
Other Unusual Items	-	-	-	-	-	3,997	Upgrade
Pretax Income	102,819	64,167	73,107	40,077	65,952	37,410	Upgrade
Income Tax Expense	31,650	27,492	28,408	13,317	17,793	15,531	Upgrade
Earnings From Continuing Operations	71,169	36,675	44,699	26,760	48,159	21,879	Upgrade
Net Income to Company	71,169	36,675	44,699	26,760	48,159	21,879	Upgrade
Minority Interest in Earnings	-48,874	-44,086	-44,501	-39,728	-34,234	-18,906	Upgrade
Net Income	22,295	-7,411	198	-12,968	13,925	2,973	Upgrade
Preferred Dividends & Other Adjustments	9,518	9,518	6,192	6,450	8,006	6,940	Upgrade
Net Income to Common	12,777	-16,929	-5,994	-19,418	5,919	-3,967	Upgrade
Net Income Growth	-	-	-	-	368.38%	-86.06%	Upgrade
Shares Outstanding (Basic)	2,589	2,384	2,384	2,384	2,384	2,384	Upgrade
Shares Outstanding (Diluted)	2,589	2,384	2,384	2,384	2,384	2,384	Upgrade
Shares Change (YoY)	8.85%	-	-	-	-	-	Upgrade
EPS (Basic)	4.93	-7.10	-2.51	-8.15	2.48	-1.66	Upgrade
EPS (Diluted)	4.93	-7.10	-2.51	-8.15	2.48	-1.66	Upgrade
Free Cash Flow	19,286	28,637	12,243	-88,379	-24,283	-7,697	Upgrade
Free Cash Flow Per Share	7.45	12.01	5.13	-37.07	-10.19	-3.23	Upgrade
Dividend Per Share	1.400	1.400	1.400	1.400	1.400	1.400	Upgrade
Gross Margin	17.10%	16.42%	16.19%	12.50%	19.88%	20.52%	Upgrade
Operating Margin	13.23%	10.59%	10.17%	7.49%	11.96%	10.00%	Upgrade
Profit Margin	0.83%	-1.07%	-0.41%	-1.29%	0.63%	-0.55%	Upgrade
Free Cash Flow Margin	1.25%	1.82%	0.85%	-5.87%	-2.58%	-1.06%	Upgrade
EBITDA	249,955	215,236	193,987	157,898	150,046	107,219	Upgrade
EBITDA Margin	16.19%	13.66%	13.41%	10.48%	15.94%	14.77%	Upgrade
D&A For EBITDA	45,785	48,392	46,932	44,994	37,524	34,650	Upgrade
EBIT	204,170	166,844	147,055	112,904	112,522	72,569	Upgrade
EBIT Margin	13.23%	10.59%	10.17%	7.49%	11.96%	10.00%	Upgrade
Effective Tax Rate	30.78%	42.84%	38.86%	33.23%	26.98%	41.52%	Upgrade
Advertising Expenses	-	7,934	7,015	5,885	5,586	5,375	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.