Submitted by: Submitted by darlingsalamat
Views: 1022
Words: 82597
Pages: 331
Category: Business and Industry
Date Submitted: 08/05/2012 01:56 AM
SAN MIGUEL CORPORATION
ANNUAL REPORT
food
beverage
packaging
power & energy
oil refining
infrastructure
mining
property
banking
telecommunications
TABLE OF CONTENTS
2
Message to Stockholders
6
Management’s Discussion & Analysis
13
Financial Position
14
Corporate Governance
20
Corporate Social Responsibility
23
Board of Directors
24
Key Executives
28
Financial Section
KE
TA
ER
H
OT
AN
OK
LO
AT
R
U
YO
N
SA
L
UE
IG
M
Through our products and services, we want to give every
single person we come in contact with access to the very best
we can offer—whether in terms of quality, or affordability or
choice. Our vision is to contribute to a strong Philippines, where
our businesses create new jobs. Where the cost of basic services
is well within the reach of every Filipino. Where quality roads
and transport infrastructure help bring down the cost of goods,
putting more money in the pockets of manufacturers and
consumers alike. And where our beverages and food products
provide nutrition, and enjoyment in celebrating
life’s big and small moments.
2
A YEAR OF CHANGE
CONTINUITY
MESSAGE TO STOCKHOLDERS
DURABILITY
GROWTH
Over the past five years, our company has undergone a significant
transformation. These last two years, in particular, have been a
period of dramatic change. We’ve made strategic acquisitions and
built up our position in fast-growing and high-potential industries.
As a group, we’ve made real progress in making extensive portfolio
changes and in carrying out the diversification we aim for.
2010*
2011
18.5%
BEVERAGES
BEVERAGES
PETRON
Contribution by revenue
*2010 is pro-forma with full-year
consolidation of Petron and power business
16.0%
50.2%
46.8%
16.4%
16.4%
FOOD
FOOD
PETRON
4.4%
4.8%
13.5%
PACKAGING
13.0%
POWER
POWER
Contribution by EBITDA
*2010 is pro-forma...