It was an auspicious gathering for San Miguel Corporation (SMC) stockholders as the conglomerate reported a strong performance for 2021.
According to a report by SMC, consolidated revenues rose 30% to P941.2 billion, compared to the previous year. Operating income reached P117.2 billion, up 64% from 2020 with net income amounting to P48.2 billion, 120% higher than in 2020. EBITDA was 28% higher at P160.9 billion.
At the annual stockholders’ meeting, SMC President and CEO Ramon S. Ang (RSA) emphasized how nation-building, sustainability and malasakit remain fundamental on the way SMC does its business. For SMC, malasakit—helping others without being prodded and without expecting anything in return– is its greatest sustainable resource.
“Despite a difficult 2021, we made great strides in terms of delivering financial results and pushing our strategic agenda. We are proud of our business’s ability to adapt and thrive under the most difficult circumstances. But we are proudest of the collective sense of purpose of our employees, who work not just to drive profits, but to help realize our vision of a better Philippines,” RSA said.
Always achievement-oriented, SMC has not been cowed by the tremendous challenge of the CoVid-19 pandemic. Instead, it marshaled its available resources to meet the challenge and help mitigate the pandemic’s effect not only on its businesses to include its workforce in all subsidiaries but on the country as whole.
At the height of the pandemic, SMC was among the first to respond to government’s call for assistance. It made sure its products were available to consumers at a time when many food manufacturing companies were cutting down on production. Its CoViD response package included medical donations from PCR testing machines, PPEs, quarantines facilities, and vaccines; food donation, waived toll fees for frontliners and advance payments of taxes and concession fees to help the government in its CoViD response, among others.
SMC’s commitment to achieve its goals by continuously engaging all stakeholders and by taking a viable path to building a better future for the country was very much evident during the years of the pandemic.
While other companies adopted a wait-and-see attitude at the height of the pandemic, SMC continued its projects even as it took care of the health of its workers. It was during the pandemic years when the Skyway Stage 3 was completed and inaugurated.
Projects such as the Metro Rail Transit 7 and the New Manila International Airport were carried on in their different stages of implementation.
The challenging times did not dampen the SMC’s participation in programs for the protection of the environment. It continued dredging and desilting activities on the Tullahan river that contributed much to the lessening of flooding in nearby areas. It formally partnered with DENR to undertake dredging of the Pasig River and continued its reforestation activities to promote ecological balance. An active partner of the Annual Million Trees Challenge, SMC contributed to the realization of the Trees Nursery and Eco Learning Center at the La Mesa Watershed Compound that was inaugurated in March this year. The nursery is crucial in the AMTC’s reforestation initiative to achieve healthy watersheds.
For the first quarter of the year SMC reported a robust growth and 2022 may prove to be another banner year for the company.
RSA stated that SMC would continue to pursue projects that will help bring the country to new levels of growth that is viable, inclusive and sustainable.
Aside from the New Manila International Airport and MRT 7 projects, SMC’s infrastructure projects include the South Luzon Expressway TR4 extending SLEX from Sto. Tomas Batangas to Lucena (Quezon). There is also the South Luzon Expressway TR5 from Lucena to Matnog, Sorsogon. These projects will provide seamless travel of goods and people.
To complement its planned additional investments in renewable energy, it is building new Battery Energy Storage System facilities. These facilities will ensure stable and reliable electrification to more provinces in the country. According to SMC it is also investing in new baseload capacities utilizing natural gas to ensure the growing power needs of our developing economy is met over the long term.
SMC is also expanding its food manufacturing capacities throughout the country with its plan to build agro-industrial and special economic zones in regions to generate employment in the regions and propel regional growth.
As one of the oldest companies in the country, SMC is very much a part of the nation’s history. Together with the Filipino people, it has withstood the test of time and many challenges along the way.
As the country begins its economic recovery, SMC remains steadfast in its role as a contributor to the country’s economic growth and in achieving the Philippines’ development goals.