Reported Earnings • May 17
First quarter 2026 earnings released: EPS: ₱2.31 (vs ₱12.25 in 1Q 2025) First quarter 2026 results: EPS: ₱2.31 (down from ₱12.25 in 1Q 2025). Revenue: ₱428.3b (up 19% from 1Q 2025). Net income: ₱7.56b (down 72% from 1Q 2025). Profit margin: 1.8% (down from 7.6% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. New Risk • Apr 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 17
Full year 2025 earnings released: EPS: ₱13.65 (vs ₱7.10 loss in FY 2024) Full year 2025 results: EPS: ₱13.65 (up from ₱7.10 loss in FY 2024). Revenue: ₱1.49t (down 5.7% from FY 2024). Net income: ₱41.3b (up ₱58.2b from FY 2024). Profit margin: 2.8% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 14
Third quarter dividend of ₱0.35 announced Dividend of ₱0.35 is the same as last year. Ex-date: 27th March 2026 Payment date: 17th April 2026 Dividend yield will be 2.0%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Earnings per share has grown by 7.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. お知らせ • Mar 12
San Miguel Corporation, Annual General Meeting, Jun 09, 2026 San Miguel Corporation, Annual General Meeting, Jun 09, 2026, at 14:00 W. Australia Standard Time. お知らせ • Dec 06
San Miguel Corporation Declares Cash Dividend, Payable on January 23, 2026 San Miguel Corporation at its board meeting held on December 4, 2025 declared cash dividend of PHP 0.35 per common share. The dividend payment date is on January 23, 2026, to be paid out of the unrestricted retained earnings of the Corporation distributable as dividends as of October 31, 2025. Payment shall be made to the stockholders of record of the aforementioned common shares as of January 2, 2026. The books of the Corporation will be closed from January 5 to 9, 2026. お知らせ • Oct 21
San Miguel Corporation Provides Update on the Disclosure Re Reconsideration of Imposition of Penalty San Miguel Corporation received, October 20, 2025, via e-mail, a copy of Letter-Response of the Office of the General Accountant (OGA) of the Securities and Exchange Commission (SEC) denying the request for reconsideration submitted by the Corporation on October 10, 2025 relating to the imposition of a penalty on the Corporation for a violation of the provisions of the Revised SRC Rule 68. No further action shall be taken by the Corporation with respect to the Letter-Response of the OGA. Upcoming Dividend • Sep 25
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 02 October 2025. Payment date: 24 October 2025. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Filipino dividend payers (6.1%). Lower than average of industry peers (2.7%). New Risk • Aug 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ₱3.43 (vs ₱5.36 loss in 2Q 2024) Second quarter 2025 results: EPS: ₱3.43 (up from ₱5.36 loss in 2Q 2024). Revenue: ₱357.3b (down 9.8% from 2Q 2024). Net income: ₱10.6b (up ₱22.2b from 2Q 2024). Profit margin: 3.0% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 12
First quarter dividend of ₱0.35 announced Dividend of ₱0.35 is the same as last year. Ex-date: 26th June 2025 Payment date: 23rd July 2025 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. お知らせ • Jun 11
San Miguel Corporation Announces Election of Directors San Miguel Corporation announced that at Annual Stockholders' Meeting held on June 10, 2025 following directors were elected: Cecile L. Ang, Thomas A. Tan, Douglas L. LuYm, Bryan U. Villanueva, and Joseph N. Pineda. New Risk • May 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings have declined by 26% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. お知らせ • May 20
MPTC Ready to Resume Merger Talks with SMC Metro Pacific Tollways Corp. (MPTC) said it is ready to resume merger talks with San Miguel Corporation (PSE:SMC) after deferring discussions amid fundraising activities. “We would like to engage them because everybody has reported their first-quarter results already. We can go back to work. If we are going to do it, we might as well do it as expeditiously as possible,” MPTC Chairman Manuel V. Pangilinan told reporters on the sidelines of an event last week. “We just have to sit down and really try to thresh it out. [SMC] is doing very well.” MPTC said earlier that its planned tollway merger with SMC has no definite completion date yet but intends to finalize the deal this year. The tollway arm of MPIC said the company aims for a 50-50 split in the planned merger with SMC, describing it as the ideal structure for the joint venture. Reported Earnings • May 17
First quarter 2025 earnings released: EPS: ₱11.67 (vs ₱0.95 loss in 1Q 2024) First quarter 2025 results: EPS: ₱11.67 (up from ₱0.95 loss in 1Q 2024). Revenue: ₱360.9b (down 8.1% from 1Q 2024). Net income: ₱30.2b (up ₱32.6b from 1Q 2024). Profit margin: 8.4% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. お知らせ • Apr 28
Mitsui Eyes MPIC Stake in Toll Unit Mitsui & Co., Ltd. (TSE:8031) has expressed interest to buy Metro Pacific Investment Corp.’s (Metro Pacific Investments Corporation) (MPIC) 20% stake in Metro Pacific Tollways Corp. (Metro Pacific Tollways Corporation) (MPTC) before the latter resumes merger negotiations with San Miguel Corporation (PSE:SMC), MPIC Chairman and Chief Executive Officer Manuel V. Pangilinan said. “We have to raise money first, once we finish that, then we will resume [merger talks with San Miguel Corp.],” he told reporters on the sidelines of the VITRO Sta. Rosa data center inauguration last week. “They (Mitsui) already converted half of their MPIC shares to shares of MPTC.” Mr. Pangilinan earlier said the sale of their toll interest is part of a plan to raise PHP 30 billion to PHP 50 billion through a private placement to cut MPTC’s debt. MPTC is trying to raise funds before it resumes merger talks with San Miguel. MPIC owns 99.9% of MPTC, whose debt accounts for most of MPIC’s PHP 64.99-billion short-term debt and the portion of its long-term debt as of end-2024. Reported Earnings • Apr 17
Full year 2024 earnings released: ₱7.10 loss per share (vs ₱2.51 loss in FY 2023) Full year 2024 results: ₱7.10 loss per share (further deteriorated from ₱2.51 loss in FY 2023). Revenue: ₱1.58t (up 8.9% from FY 2023). Net loss: ₱16.9b (loss widened 182% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 15
Third quarter dividend of ₱0.35 announced Dividend of ₱0.35 is the same as last year. Ex-date: 27th March 2025 Payment date: 25th April 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. お知らせ • Mar 03
Metro Pacific Tollways Defers Merger Discussions with San Miguel to Focus on Raising Funds to Pay Down Debt Metro Pacific Tollways Corporation (MPTC) has deferred merger discussions with San Miguel Corporation (PSE:SMC) to focus on raising funds to pay down debt, its Chairman said. “We deferred the discussion with them because MPTC is raising money. We have significant debts. So, once we have achieved that, then we can resume the discussion,” MPTC Chairman Manuel V. Pangilinan told reporters last week. MPTC expects to raise funds within the next two to three months via bank loans or private placements, Mr. Pangilinan said. For now, the planned tollway merger with SMC has no definite completion date, although Mr. Pangilinan said he hopes it can be completed within the year. MPTC’s Mr. Perez previously said that the company aimed for a 50-50 split in the planned merger with SMC, describing it as the ideal structure for the joint venture. The company plans to leverage its international assets, with reports suggesting a 90-10 division favoring SMC in the expected tollway merger. “Whatever it takes to make that happen — the 50-50 — if we’re going to include the international assets, we will include. For now, our mandate is to have a 50-50 arrangement,” Mr. Perez said in an earlier interview. Upcoming Dividend • Dec 26
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 02 January 2025. Payment date: 24 January 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Filipino dividend payers (6.7%). Lower than average of industry peers (2.3%). Declared Dividend • Dec 07
Third quarter dividend of ₱0.35 announced Dividend of ₱0.35 is the same as last year. Ex-date: 2nd January 2025 Payment date: 24th January 2025 Dividend yield will be 1.6%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. お知らせ • Dec 05
San Miguel Corporation Declares Cash Dividends, Payable on January 24, 2025 San Miguel Corporation at its Board of Directors meeting held on December 5, 2024, the Board of Directors of the Corporation declared cash dividends on the common shares of the Corporation in the amount of PHP 0.35 per common share. The dividend payment date is on January 24, 2025, to be paid out of the unrestricted retained earnings of the Corporation distributable as dividends as of September 30, 2024. Payment shall be made to the stockholders of record of the aforementioned common shares as of January 3, 2025. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₱4.74 (vs ₱0.87 loss in 3Q 2023) Third quarter 2024 results: EPS: ₱4.74 (up from ₱0.87 loss in 3Q 2023). Revenue: ₱390.5b (up 3.9% from 3Q 2023). Net income: ₱13.7b (up ₱15.3b from 3Q 2023). Profit margin: 3.5% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Nov 14
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 21 November 2024. Payment date: 02 December 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Filipino dividend payers (6.5%). Lower than average of industry peers (2.3%). Reported Earnings • Aug 16
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₱396.3b (up 17% from 2Q 2023). Net loss: ₱9.21b (loss narrowed 2.6% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. お知らせ • Aug 08
San Miguel Corporation Elects Felipe M. Medalla as an Independent Director San Miguel Corporation at the Regular Meeting of the Board of Directors held on August 8, 2024, the Board of Directors of the Corporation, constituting a quorum, voted to elect Dr. Felipe M. Medalla as an independent director of the Corporation to fill the vacancy in the Board of Directors of the Corporation due to the resignation of Mr. Ramon F. Villavicencio. Dr. Medalla was the Governor and Chairman of the Monetary Board of the Bangko Sentral ng Pilipinas from July 1, 2022 to July 2, 2023. He was a member of the Monetary Board from 2011 to 2022. He was the Secretary of the Socio-Economic Planning and Director General of the National Economic and Development Authority from 1998 to 2001. Prior to being a member of the Monetary Board, he spent 35 years as a member of the academe. He was Dean of the School of Economics at the University of the Philippines - Diliman from 1994 to 1998, where he was also a Professor from 1991 to 2011, and an Instructor, Assistant Professor and Associate Professor from 1976 to 1991. Dr. Medalla obtained his PhD degree in Economics from the Notherwestern University, Evanston Illinois, USA in 1983. He earned his MA Economics degree from the University of the Philippines in 1976, and his AB-BSC (Economics-Accounting) degree cum laude from De La Salle University in 1970. He brings with him years of economics and finance experience from the perspective of the government sector, all of which equip him with expertise and proficiency in attending to the needs and requirements of the Company. Dr. Medalla shall serve as an Independent Director for the unexpired term of his predecessor. Declared Dividend • Jun 13
First quarter dividend of ₱0.35 announced Dividend of ₱0.35 is the same as last year. Ex-date: 27th June 2024 Payment date: 26th July 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Reported Earnings • May 17
First quarter 2024 earnings released: ₱0.78 loss per share (vs ₱2.77 profit in 1Q 2023) First quarter 2024 results: ₱0.78 loss per share (down from ₱2.77 profit in 1Q 2023). Revenue: ₱392.7b (up 13% from 1Q 2023). Net income: ₱509.0m (down 93% from 1Q 2023). Profit margin: 0.1% (down from 2.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 17
Full year 2023 earnings released: EPS: ₱2.51 (vs ₱8.15 loss in FY 2022) Full year 2023 results: EPS: ₱2.51 (up from ₱8.15 loss in FY 2022). Revenue: ₱1.45t (down 4.0% from FY 2022). Net income: ₱198.0m (up ₱19.6b from FY 2022). Profit margin: 0% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 19
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 26 March 2024. Payment date: 26 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Filipino dividend payers (5.7%). Lower than average of industry peers (2.1%). Declared Dividend • Mar 13
Third quarter dividend of ₱0.35 announced Dividend of ₱0.35 is the same as last year. Ex-date: 26th March 2024 Payment date: 26th April 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. お知らせ • Mar 12
San Miguel Corporation Declares Cash Dividends on Common Shares, Payable on April 26, 2024 San Miguel Corporation announced At the regular Meeting of the Board of Directors held March 11, 2024, the Board of Directors of the Corporation declared cash dividends of PHP 0.35 on the common shares of the Corporation. Record Date is March 27, 2024. Payment Date is April 26, 2024. お知らせ • Mar 11
San Miguel Corporation, Annual General Meeting, Jun 11, 2024 San Miguel Corporation, Annual General Meeting, Jun 11, 2024, at 14:00 China Standard Time. Upcoming Dividend • Dec 28
Upcoming dividend of ₱0.35 per share at 1.3% yield Eligible shareholders must have bought the stock before 04 January 2024. Payment date: 26 January 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Filipino dividend payers (5.9%). Lower than average of industry peers (2.2%). お知らせ • Dec 07
San Miguel Corporation Declares Cash Dividend, Payable on January 26, 2024 San Miguel Corporation announced that at its board meeting held on December 7, 2023, declared cash dividends on the common shares of the corporation in the amount of PHP 0.35 per share. The dividends payment date is January 26, 2024, to all the common shareholders of Record date is January 5, 2024. The dividends shall be paid out of the unrestricted retained earnings of the corporation distributable as dividends as of October 31, 2023. お知らせ • Nov 18
The Bureau of Internal Revenue Wins Tax Case Versus San Miguel Corporation The bureau of internal revenue (BIR) won tax case versus San Miguel Corporation. The supreme court has rejected San Miguel Corp.'s bid to claim a PHP 30.4 million tax refund. BIR Commissioner Romeo Lumagui Jr. said the high court, in an April 12, 2023 decision, had ruled that the conglomerate was not entitled to a refund of documentary stamp taxes (DST) on intercompany advances made in 2009 based on Section 179 of the National Internal Revenue Code. The court of tax appeals had previously approved part of San Miguel's tax refund request, specially that pertaining to PHP 15,916,794.59 in interest. The high court reversed that decision, stating that San Miguel could not claim ggod faith based on previous BIR issuances as those issuances were not in its favor. The appellate court has reasoned that the company acted in good faith by relying on earlier BIR issuances stating that intercompany loans and advances covered by interoffice memoranda were not subject to DST. Reported Earnings • Nov 17
Third quarter 2023 earnings released: ₱0.87 loss per share (vs ₱6.46 loss in 3Q 2022) Third quarter 2023 results: ₱0.87 loss per share (improved from ₱6.46 loss in 3Q 2022). Revenue: ₱375.9b (down 6.3% from 3Q 2022). Net loss: ₱1.58b (loss narrowed 89% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. お知らせ • Oct 25
San Miguel to Acquire an Equity Stake in Metro Pacific Investments Billionaire Ramon Ang of San Miguel Corp. (PSE:SMC) will acquire an equity stake in Metro Pacific Investments Corporation (OTCPK:MPCF.F) at the invitation of tycoon Manuel Pangilinan-a move that will see the once fierce rivals become close business allies. The Inquirer learned from several sources that Ang, who heads the country's biggest conglomerate, would join the board of MPIC as part of his buy-in of a yet-undisclosed minority stake in the group, which also includes the Ty family's GT Capital Holdings and one of Indonesia's wealthiest men, billionaire Anthoni Salim. According to a ranking Metro Pacific source, the entry of the SMC president and chief executive into MPIC was a prelude to the eventual merger of the toll road businesses of both conglomerates-SMC Tollways and Metro Pacific Tollways Corp., respectively-into one super entity. 'Assuming that doesn't run into antitrust issues, that deal could potentially be a huge initial public offering,' the official said. Upcoming Dividend • Sep 28
Upcoming dividend of ₱0.35 per share at 1.3% yield Eligible shareholders must have bought the stock before 05 October 2023. Payment date: 27 October 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Filipino dividend payers (5.6%). Lower than average of industry peers (2.3%). お知らせ • Sep 08
San Miguel Corporation Declares Cash Dividends, Payable on October 27, 2023 San Miguel Corporation announced that at its board meeting held on September 7, 2023, declared cash dividends on the common shares of the corporation in the amount of PHP 0.35 per share. The dividends payment date is October 27, 2023, to be paid out of the unrestricted retained earnings of the corporation distributable as dividends as of August 31, 2023. Record date is October 6, 2023. Reported Earnings • Aug 17
Second quarter 2023 earnings released: ₱3.97 loss per share (vs ₱3.99 loss in 2Q 2022) Second quarter 2023 results: ₱3.97 loss per share (improved from ₱3.99 loss in 2Q 2022). Revenue: ₱338.5b (down 14% from 2Q 2022). Net loss: ₱8.95b (loss narrowed 3.9% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. お知らせ • Jul 06
San Miguel Corporation Announces Creation of Sustainability Committee and Appointment of Members San Miguel Corporation at its board meeting held on June 6, 2023, approved the creation of Sustainability Committee and the appointment of its members, namely: Chairperson: Teresita L. De Castro and Members: Aurora T. Calderon, Diosdado M. Peralta, Ernesto M. Pernia and Alexander J. Poblador. Upcoming Dividend • Jun 20
Upcoming dividend of ₱0.35 per share at 1.3% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 26 July 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Filipino dividend payers (5.8%). Lower than average of industry peers (2.1%). お知らせ • Jun 14
San Miguel Corporation Declares Cash Dividend, Payable on July 26, 2023 San Miguel Corporation announced that at the regular Meeting of the Board of Directors of the company held on June 13, 2023, the Board of Directors of the Corporation declared cash dividend of PHP 0.35 per share on the common shares of the Corporation. The dividend payment date is on July 26, 2023, to be paid out of the unrestricted retained earnings of the Corporation distributable as dividends as of May 31, 2023, Payment shall be made to the stockholders of record of the aforementioned common shares as of June 30, 2023 The books of the Corporation will be closed from July 3 to 7, 2023. Reported Earnings • Apr 19
Full year 2022 earnings released: ₱8.15 loss per share (vs ₱2.48 profit in FY 2021) Full year 2022 results: ₱8.15 loss per share (down from ₱2.48 profit in FY 2021). Revenue: ₱1.51t (up 60% from FY 2021). Net loss: ₱19.4b (down 428% from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 21
Upcoming dividend of ₱0.35 per share at 1.3% yield Eligible shareholders must have bought the stock before 28 March 2023. Payment date: 28 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Filipino dividend payers (5.3%). Lower than average of industry peers (1.9%). Upcoming Dividend • Dec 27
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 03 January 2023. Payment date: 27 January 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Filipino dividend payers (5.6%). Lower than average of industry peers (1.8%). Reported Earnings • Nov 19
Third quarter 2022 earnings released: ₱6.46 loss per share (vs ₱1.35 loss in 3Q 2021) Third quarter 2022 results: ₱6.46 loss per share (further deteriorated from ₱1.35 loss in 3Q 2021). Revenue: ₱401.1b (up 67% from 3Q 2021). Net loss: ₱14.8b (loss widened 446% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 27
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 04 October 2022. Payment date: 28 October 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Filipino dividend payers (5.3%). Lower than average of industry peers (2.0%). Reported Earnings • Aug 19
Second quarter 2022 earnings released: ₱3.89 loss per share (vs ₱0.70 profit in 2Q 2021) Second quarter 2022 results: ₱3.89 loss per share (down from ₱0.70 profit in 2Q 2021). Revenue: ₱394.7b (up 89% from 2Q 2021). Net loss: ₱8.75b (down ₱10.9b from profit in 2Q 2021). Over the next year, revenue is expected to shrink by 21% compared to a 3.0% growth forecast for the Industrials industry in Philippines. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 21
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 28 June 2022. Payment date: 27 July 2022. Payout ratio is on the higher end at 94% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Filipino dividend payers (4.9%). Lower than average of industry peers (1.7%). Reported Earnings • Apr 27
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ₱2.48 (up from ₱1.66 loss in FY 2020). Revenue: ₱941.2b (up 30% from FY 2020). Net income: ₱5.92b (up ₱9.89b from FY 2020). Profit margin: 0.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 9.7% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 22
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 29 March 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 48% and the cash payout ratio is 90%. Trailing yield: 1.3%. Lower than top quartile of Filipino dividend payers (4.2%). In line with average of industry peers (1.3%). Upcoming Dividend • Dec 22
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 21 January 2022. Payout ratio is a comfortable 48% and the cash payout ratio is 90%. Trailing yield: 1.2%. Lower than top quartile of Filipino dividend payers (4.1%). In line with average of industry peers (1.1%). Reported Earnings • Nov 22
Third quarter 2021 earnings: EPS and revenues miss analyst expectations Third quarter 2021 results: ₱1.35 loss per share (down from ₱2.24 profit in 3Q 2020). Revenue: ₱240.4b (up 35% from 3Q 2020). Net loss: ₱2.72b (down 147% from profit in 3Q 2020). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) were also behind analyst expectations. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 8.3%, compared to a 11% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 28
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 05 October 2021. Payment date: 29 October 2021. Trailing yield: 1.2%. Lower than top quartile of Filipino dividend payers (4.2%). In line with average of industry peers (1.1%). Upcoming Dividend • Jun 22
Upcoming dividend of ₱0.35 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 28 July 2021. Trailing yield: 1.2%. Lower than top quartile of Filipino dividend payers (4.1%). In line with average of industry peers (1.1%). Executive Departure • Jun 01
Head of Treasury & Senior VP has left the company On the 31st of May, Eduaro Sergio Edeza's tenure as Head of Treasury & Senior VP ended after 7.8 years in the role. As of March 2021, Eduaro Sergio personally held only 62.00 shares (₱7.4k worth at the time). A total of 3 executives have left over the last 12 months. Reported Earnings • May 21
First quarter 2021 earnings released: EPS ₱2.98 (vs ₱1.25 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ₱201.2b (down 6.0% from 1Q 2020). Net income: ₱7.10b (up ₱10.1b from 1Q 2020). Profit margin: 3.5% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 20
Full year 2020 earnings released: ₱1.66 loss per share (vs ₱5.93 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₱725.8b (down 29% from FY 2019). Net income: ₱2.97b (down 79% from FY 2019). Profit margin: 0.4% (down from 1.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 22
Upcoming Dividend of ₱0.35 Per Share Will be paid on the 30th of April to those who are registered shareholders by the 29th of March. The trailing yield of 1.2% is below the top quartile of Filipino dividend payers (4.2%), but is in line with industry peers (1.2%). Is New 90 Day High Low • Mar 12
New 90-day low: ₱121 The company is down 12% from its price of ₱138 on 11 December 2020. The Filipino market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Industrials industry, which is down 5.0% over the same period. Upcoming Dividend • Dec 16
Upcoming Dividend of ₱0.35 Per Share Will be paid on the 22nd of January to those who are registered shareholders by the 23rd of December. The trailing yield of 1.0% is below the top quartile of Filipino dividend payers (3.9%), but is in line with industry peers (1.1%). Is New 90 Day High Low • Dec 11
New 90-day high: ₱138 The company is up 37% from its price of ₱101 on 11 September 2020. The Filipino market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱16.60 per share. Price Target Changed • Nov 28
Price target lowered to ₱95.00 Down from ₱107, the current price target is an average from 2 analysts. The new target price is 26% below the current share price of ₱128. As of last close, the stock is down 20% over the past year. Is New 90 Day High Low • Nov 12
New 90-day high: ₱107 The company is up 3.0% from its price of ₱104 on 14 August 2020. The Filipino market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Industrials industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱22.15 per share. Is New 90 Day High Low • Oct 22
New 90-day high: ₱106 The company is up 8.0% from its price of ₱97.80 on 24 July 2020. The Filipino market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱20.98 per share. Upcoming Dividend • Sep 29
Upcoming Dividend of ₱0.35 Per Share Will be paid on the 30th of October to those who are registered shareholders by the 6th of October. The trailing yield of 1.4% is below the top quartile of Filipino dividend payers (4.6%), but is in line with industry peers (1.4%).