San Miguel's consolidated revenues reach P1.5 trillion in 2022, a 60% increase from the previous year's P941 billion.
Net income rose 10% to P34.7 billion while consolidated revenues went up 16% to P358.9 billion, driven by sustained volume growth and better selling prices across the beer, spirits, and food divisions. Net income ended at P21.8 billion, 6% higher than the previous year, while consolidated revenues rose 17% to P136.2 billion.
Consolidated volumes jumped 10% to 224.5 million cases driven by “effective brand-building and demand generation programs that capitalized on positive economic growth in both domestic and international markets.”Ginebra San Miguel posted its highest-ever net income of P4.5 billion, exceeding 2021 results by 9%. Volumes reached an all-time high of 44.6 million cases, surpassing 2021 levels by 7%.Consolidated revenues increased by 16% to P175.3 billion, while net income surged 21% to P9.2 billion.
“Amid rising inflation, volumes across most segments grew, boosted by intensified distribution, aggressive promotional activities, the launch of new products, and utilization of additional capacity from new facilities,” SMC said. Net income dropped 80% to P3.1 billion, while operating income declined 22% to P28.
Combined sales volume from its Philippines and Malaysia operations reached 112.8 million barrels, up 37%. Domestic volume climbed 43%, as demand from the industrial and aviation sectors recovered. SMC Infrastructure delivered consolidated revenues of P29 billion, 47% higher than 2021. Traffic volume at all operating toll roads increased 25%, while operating income grew 110% to P14.2 billion due to higher traffic volume.
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