Ginebra San Miguel (GSMI) Q4 2024 earnings summary

Executive summary

• Consolidated revenues grew 17% year-over-year to P62.5 billion, driven by volume growth and price increases.

• Net income rose 3% to P7.26 billion, with strong brand performance and effective cost management.

• EBITDA reached P9.4 billion, up 41% from the previous year, reflecting operational efficiency.

• The company maintained its market leadership in the gin segment and expanded its product portfolio with new launches.

• Dividend payouts increased, with regular and special dividends declared throughout the year.

Financial highlights

• Sales: P62.5 billion in 2024 vs. P53.6 billion in 2023 (+17%).

• Net income: P7.26 billion in 2024 vs. P7.05 billion in 2023 (+3%).

• Gross profit: P15.2 billion in 2024 vs. P12.8 billion in 2023 (+19%).

• Operating income: P6.8 billion in 2024 vs. P6.0 billion in 2023 (+14%).

• EBITDA: P9.4 billion in 2024 vs. P6.7 billion in 2023 (+41%).

• EPS: P25.34 in 2024 vs. P24.61 in 2023.

• Total assets: P30.5 billion at year-end 2024, up 10% from P27.8 billion in 2023.

• Cash and cash equivalents: P11.3 billion at year-end 2024 (+15%).

Outlook and guidance

• Management expects continued revenue and profit growth, supported by strong brand equity, new product launches, and expanded distribution.

• The company is focused on operational efficiency, supply chain improvements, and sustainability initiatives.

• Ongoing investments in capacity expansion and product innovation are planned.