FINANCIAL HIGHLIGHTS
For the First Quarter Ended March 31, 2020
Ginebra San Miguel Inc. ended first quarter of 2020 with volumes lower by 14% than the previous year, constrained by the Enhanced Community Quarantine (ECQ) and liquor bans in March. Still, GSM Blue brand attained a double-digit growth of 47% versus year ago.
Due to lower volumes, Revenue of P7.45 billion softened by 10% from the previous year, while Operating Income of P686 million slid by 30%. Net Income was 23% lower than last year, but remained positive at P474 million.
| IN MILLION PESOS | 1Q 2020 | Q1 2019 | CHANGE |
| Net Sales | 7,452 | 8,265 | -10% |
| Income from Operations | 686 | 986 | -30% |
| Net Income | 474 | 616 | -23% |
ANNUAL REPORTS
FINANCIAL HIGHLIGHTS
For the First Quarter Ended March 31, 2020
Ginebra San Miguel Inc. ended first quarter of 2020 with volumes lower by 14% than the previous year, constrained by the Enhanced Community Quarantine (ECQ) and liquor bans in March. Still, GSM Blue brand attained a double-digit growth of 47% versus year ago.
Due to lower volumes, Revenue of P7.45 billion softened by 10% from the previous year, while Operating Income of P686 million slid by 30%. Net Income was 23% lower than last year, but remained positive at P474 million.
| IN MILLION PESOS | 1Q 2020 | Q1 2019 | CHANGE |
| Net Sales | 7,452 | 8,265 | -10% |
| Income from Operations | 686 | 986 | -30% |
| Net Income | 474 | 616 | -23% |
ANNUAL REPORTS
