San Miguel Corporation (PSE:SMC)

San Miguel Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	1,565,136	1,446,703	1,506,591	941,193	725,797	1,020,502
Revenue Growth (YoY)	7.56%	-3.98%	60.07%	29.68%	-28.88%	-0.43%
Cost of Revenue	1,312,093	1,212,489	1,318,245	754,125	576,832	822,399
Gross Profit	253,043	234,214	188,346	187,068	148,965	198,103
Selling, General & Admin	78,295	71,134	63,984	60,474	58,861	66,530
Research & Development	80	80	45	38	50	152
Other Operating Expenses	6,306	3,965	39	3,534	6,998	4,022
Operating Expenses	97,148	87,646	75,464	74,546	76,396	80,958
Operating Income	155,895	146,568	112,882	112,522	72,569	117,145
Interest Expense	-93,445	-86,838	-57,093	-45,521	-49,012	-52,869
Interest & Investment Income	15,048	14,052	8,460	6,265	7,526	12,561
Earnings From Equity Investments	1,949	1,729	1,197	1,040	417	105
Currency Exchange Gain (Loss)	8,754	2,485	-21,518	-4,846	5,444	5,422
Other Non Operating Income (Expenses)	-4,784	-4,784	-3,817	-3,289	-4,126	-4,194
EBT Excluding Unusual Items	83,417	73,212	40,111	66,171	32,818	78,170
Impairment of Goodwill	-188	-188	-789	-	-	-
Gain (Loss) on Sale of Investments	89	83	733	167	403	727
Gain (Loss) on Sale of Assets	-	-	-	-	-	-237
Asset Writedown	-130	-	-	-386	192	-1,573
Other Unusual Items	-	-	22	-	3,997	-
Pretax Income	83,188	73,107	40,077	65,952	37,410	77,087
Income Tax Expense	32,582	28,408	13,317	17,793	15,531	28,513
Earnings From Continuing Operations	50,606	44,699	26,760	48,159	21,879	48,574
Net Income to Company	50,606	44,699	26,760	48,159	21,879	48,574
Minority Interest in Earnings	-45,576	-44,501	-39,728	-34,234	-18,906	-27,245
Net Income	5,030	198	-12,968	13,925	2,973	21,329
Preferred Dividends & Other Adjustments	9,095	6,192	6,450	8,006	6,940	7,187
Net Income to Common	-4,065	-5,994	-19,418	5,919	-3,967	14,142
Net Income Growth	119.36%	-	-	368.38%	-86.06%	-7.58%
Shares Outstanding (Basic)	2,384	2,384	2,384	2,384	2,384	2,384
Shares Outstanding (Diluted)	2,384	2,384	2,384	2,384	2,384	2,384
Shares Change (YoY)	-	-	-	-	-	0.04%
EPS (Basic)	-1.71	-2.51	-8.15	2.48	-1.66	5.93
EPS (Diluted)	-1.71	-2.51	-8.15	2.48	-1.66	5.93
EPS Growth	-	-	-	-	-	-10.30%
Free Cash Flow	20,801	12,243	-87,429	-24,283	-7,697	27,847
Free Cash Flow Per Share	8.72	5.13	-36.67	-10.19	-3.23	11.68
Dividend Per Share	1.400	1.400	1.400	1.400	1.400	1.400
Gross Margin	16.17%	16.19%	12.50%	19.88%	20.52%	19.41%
Operating Margin	9.96%	10.13%	7.49%	11.96%	10.00%	11.48%
Profit Margin	-0.26%	-0.41%	-1.29%	0.63%	-0.55%	1.39%
Free Cash Flow Margin	1.33%	0.85%	-5.80%	-2.58%	-1.06%	2.73%
EBITDA	201,257	191,736	154,821	150,046	107,219	160,206
EBITDA Margin	12.86%	13.25%	10.28%	15.94%	14.77%	15.70%
D&A For EBITDA	45,362	45,168	41,939	37,524	34,650	43,061
EBIT	155,895	146,568	112,882	112,522	72,569	117,145
EBIT Margin	9.96%	10.13%	7.49%	11.96%	10.00%	11.48%
Effective Tax Rate	39.17%	38.86%	33.23%	26.98%	41.52%	36.99%
Advertising Expenses	-	7,015	5,885	5,586	5,375	9,682

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