Petron Malaysia Refining & Marketing : Sustainability Report 2022

Nov 13, 2023 09:27 AM
San Miguel Corporation's (SMC) net income for the nine-month period of 2023 soared 141 percent to P31.2 billion from P12.9 billion recorded in the same period last year driven by performance growth across its key subsidiaries. These subsidiaries include Petron Corporation, San Miguel Brewery Inc. (SMB), Ginebra San Miguel Inc. (GSMI), SMC Infrastructure, and Eagle Cement Corporation (Eagle). In a statement, the corporation’s consolidated revenues slightly dipped by five percent but still at P1.1 trillion, same as the nine-month period in 2022. The decrease in revenues was attributed to lower selling prices from Petron and lower sales volumes for San Miguel Foods (SMF) and San Miguel Global Power (SMGP). Its consolidated operating income was also 29 percent higher to P110.2 billion this year due to improvements in the Fuel and Oil, Beverages, Packaging, Infrastructure, and Cement businesses. Meanwhile, its consolidated earnings before income, tax, depreciation, and amortization (EBITDA ) was up 22 percent to P154.2 billion. “SMC's resilient performance in the face of economic challenges is very encouraging. Our achievements highlight our consistent focus on quality and strategic business growth. We remain dedicated to delivering exceptional service to our customers while contributing to broader national initiatives,”said SMC President and CEO Ramon S. Ang. In terms of business segments, the San Miguel Food and Beverage Inc. (SMFB)’s net income saw a four percent increase to ₱27.5 billion, with a six percent increase in revenues to P276.7 billion due to improved selling prices in Beer, Spirits, and Food divisions. SMB's net income inched up four percent to P27.5 billion, with a nine percent higher revenue to ₱108.3 billion, attributed to four percent and nine percent higher domestic volumes and international operations respectively, along with higher selling prices. Meanwhile, GSMI's net income rose 62 percent to P5.5 billion and revenues grew 13 percent to ₱38.9 billion. San Miguel Food’s net income reached P3.2 billion, while its consolidated revenues inched up by one percent to P129.4 billion as the group contends with rising inflation and high costs of raw materials. San Miguel Global Power Holdings Corp.’s consolidated net income increased by four times to P9.1 billion from last year’s level to ₱9.1 billion due to lower foreign exchange revaluation. Petron’s consolidated net income is 16 percent higher this year to P9.5 billion, however its revenues were down by seven percent to P587.3 billion as prices corrected from their elevated levels during the Russia-Ukraine conflict in 2022. Sales volume did grow 16 percent to 93.6 million barrels sold this year. SMC Infrastructure reached the million mark in combined average daily traffic volume across all its operating toll roads. Consolidated revenues increased 20 percent to P25.1 billion. Moreover, Eagle, Northern Cement Corporation and Southern Concrete Industries Inc., generated a massive surge of 255 percent in nine-month consolidated revenues to P28.9 billion due to the consolidation of Eagle in 2023.

SMC’s 9-month profits soar 141% to P31.2 B

2 minute read
Conglomerate San Miguel Corp. (SMC) on Monday said its income in January to September more than doubled to P31.2 billion from the previous year’s P12.94 billion. The company said its growth came from its core units Petron Corp., San Miguel Brewery Inc., Ginebra San Miguel Inc., SMC Infrastructure and Eagle Cement Corp.
San Miguel said its power and food businesses, while still below last year levels, has started to show improvements in the third quarter. Consolidated revenues declined by 5 percent to P1.06 trillion from the previous year’s P1.11 trillion due to lower selling prices from Petron along with a decrease in sales volumes for San Miguel Foods and San Miguel Global Power, but this was partly offset by higher sales in other businesses. “SMC’s resilient performance in the face of economic challenges is very encouraging. Our achievements highlight our consistent focus on quality and strategic business growth. We remain dedicated to delivering exceptional service to our customers while contributing to broader national initiatives,” San Miguel President and CEO Ramon S. Ang said. San Miguel Food and Beverage Inc. maintained its growth momentum in the third quarter, as it recorded a 6-percent increase in consolidated revenue to P276.7 billion in the nine months. This is due to improved selling prices across its beer, spirits and food divisions. San Miguel Global Power Holdings Corp. recorded a consolidated net income of P9.08 billion, a reversal of last year’s P2.63 billion in net loss, due to lower foreign exchange revaluation. Consolidated operating income improved 1 percent year-on-year to P23.3 billion, as margins improved as a result of declining average coal prices and lower overall power purchases. The company said it recorded a 19-percent decline in consolidated off-take generation volumes for the nine-month period, still as a result of the extended outage of the 1,200 MW Ilijan Power Plant from June 2022 to June 2023. The facility underwent retrofitting to improve its efficiency and reliability while awaiting substantial completion of an adjacent full-scale LNG terminal that will receive, store and re-gassify LNG fuel. Refiner Petron’s net income reached P9.5 billion, 16 percent higher than the P8.17 billion it reported a year earlier. For the first time, SMC Infrastructure reached the million mark in combined average daily traffic volume across all its operating toll roads rising 11 percent from last year. Consolidated revenues increased 20 percent to P25.1 billion from P20.87 billion last year. The cement business, composed of Eagle Cement, Northern Cement Corp. and Southern Concrete Industries Inc., generated nine-month consolidated revenues of P28.9 billion, more than three times higher than last year, mainly due to the consolidation of Eagle in 2023. The group swung to an operating income of P4.6 billion, coming from an operating loss of P19 million last year.

San Miguel income more than doubled in January-September

By JON VIKTOR D. CABUENAS, GMA Integrated News
Published November 7, 2023 1:13pm
Petron Corp. posted a 16% growth in its consolidated net income in the first nine months of the year, on the back of the strong volume growth the company said was fueled by higher demand for gasoline and diesel products. The company said its consolidated net income grew to P9.5 billion from P8.2 billion in the same period in 2022, while its operating income increased by 64% to P27 billion from P16.5 billion. Consolidated revenues moderated to P587.3 billion from P631.1 billion in the past year, as prices corrected from the extraordinary levels seen in 2022 due to the conflict between Russia and Ukraine. The company reported a consolidated sales volume of 93.6 million barrels, reflecting a 16% increase from 80.4 million barrels sold last year, with volume improvements noted across major business segments. “We are seeing consistent growth in all areas of our business. Our wide reach, superior product quality, and reliable service have allowed us to sustain our good performance throughout the year, and maintain or even strengthen our market share in high-demand sectors,” Petron president and CEO Ramon Ang said. Petron ended 2022 with over 1,900 retail service stations and various liquefied petroleum gas (LPG) dealerships, stores and franchises, and lube outlets across the country. —KBK, GMA Integrated News

Petron 9-month net income up 16%

SINGAPORE (ICIS)--Petron posted a 16% year-on-year growth in net profit for the first nine months of 2023 to Philippine peso (Ps) 9.5bn ($169m), backed by a strong increase in sales volume, the...

Philippines' Petron nine-month profit up 16% on strong sales
      volume

Technical Education and Skills Development Authority (TESDA) manages and supervises technical education and skills development (TESD) in the Philippines. It was founded in 1994 and is based in Taguig City, Philippines.

Technical Education and Skills Development Authority

The partnership was formalized during the signing of the Memorandum of Agreement on March 4 led by TESDA Secretary Isidro Lapeña and Petron Corporation Vice President for Industrial Sales Virgilio Centeno at the TESDA Complex in Taguig .

TESDA, Petron provide automotive servicing training to empower more Filipinos - Petron

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Name	Title	Status
Khalid Al-Faddagh	Chief Executive Officer, President	Current
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