Price hike lifts Ginebra Q1 net to P2.1 billion

LISTED Ginebra San Miguel Inc. reported a consolidated net income of P2.1 billion for the first quarter of 2025, up 11 percent from P1.9 billion a year earlier, as higher prices offset increased input costs.

Consolidated revenues during the period grew 8 percent to P16.27 billion from P15.1 billion last year, benefiting from the increase in selling prices effective February.

Meanwhile, it said cost of sales increased 7 percent to P12.2 billion from P11.4 billion, driven by higher input costs and excise taxes.

"The increase in selling price more than offset the impact of higher input costs. resulting in a 10-percent increase in gross profit," Ginebra said in its quarterly report filed on Wednesday.

Selling and administrative expenses climbed 12 percent to P1.618 billion on higher advertising and promotional expenses as well as increased delivery and marketing costs.

Interest income, meanwhile, jumped to P225 million, up 19 percent from P189 million in the first quarter of 2024, thanks to higher money market placements.

Ginebra's inventory rose 14 percent to P8.65 billion due to higher materials and finished goods inventory level. As a result, it said its inventory of molasses increased on account of lower prices.

On April 30, 2025, the company's board of directors approved the declaration of regular and special cash dividends to common shareholders of record as of May 30, 2025. The dividends are payable on June 6, 2025.

Shareholders will receive a regular cash dividend of P2.50 per common share and P1.50 per share as special cash dividend.

Ginebra shares on Wednesday rose 80 centavos, or 0.28 percent, to close at P286.00 apiece.