Despite some market challenges, revenues still grew 4 percent to ₱98.9 billion, driven by strong demand for its food and liquor products.
The company’s profitability got a boost from tighter cost controls and better efficiency across the board. Gross profit rose 11 percent to ₱28.6 billion, while income from operations climbed 16 percent to ₱15.2 billion.
Earnings before interest, taxes, depreciation, and amortization (Ebitda) hit ₱19.6 billion, giving the company a solid 20 percent Ebitda margin.
Management’s view
“Our results this quarter reflect the strength of our diversified portfolio and our continued focus on execution. We are optimistic about the rest of the year,” Ramon S. Ang, chair of FB, said in a statement.
“Our continued investments in key growth areas, from expanding production capacities to strengthening our distribution network, are designed to meet the evolving needs of the Filipino consumer. With our strong brands and disciplined execution, we are well-positioned to sustain our growth trajectory in 2025 and beyond,” he added.
Food business grows
The food segment stood out in the first quarter, with revenues up 8 percent to ₱46.3 billion. This was powered by strong poultry sales and solid numbers from Purefoods meats, Magnolia dairy and coffee, and flour.
As a result, operating income jumped 70 percent to ₱4.4 billion, while net income soared 83 percent to ₱3 billion.
Beverage holds steady
San Miguel Brewery pulled in ₱36.3 billion in sales, mostly from local customers. Although growth was moderate, strong cost control helped maintain earnings. It recorded ₱6.6 billion in net income and ₱13.9 billion in gross profit.
Ginebra San Miguel, its spirits business, also had a good quarter, with revenues up 8 percent to ₱16.3 billion. The unit’s net income grew 11 percent to ₱2.1 billion, driven by stable demand and stronger market presence.
