Ginebra San Miguel Inc., the distilled spirits unit of San Miguel Corp., reported a 9% increase in net income for the first quarter of 2025, reaching P2.29 billion, driven by higher product prices.
The company attributed the earnings growth to improved pricing strategies that offset rising input costs. Revenues for the period rose to P12.8 billion, up from P11.7 billion a year earlier, as demand for its flagship gin and other liquor brands remained strong.
"Our focus on premiumization and cost management allowed us to deliver solid results despite a challenging economic environment," said a company spokesperson.
Operating income climbed 11% to P3.1 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 10% to P3.5 billion. The company noted that higher advertising and promotional expenses were partly offset by operational efficiencies.
Ginebra San Miguel expects sustained growth for the rest of the year, barring any major regulatory changes or economic downturns.