SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER

1. For the quarterly period ended

Mar 31, 2015

2. SEC Identification Number

PW-277

3. BIR Tax Identification No.

000-060-741-000

4. Exact name of issuer as specified in its charter

SAN MIGUEL CORPORATION

5. Province, country or other jurisdiction of incorporation or organization

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

No. 40 San Miguel Avenue, Mandaluyong City, Metro Manila, Philippines Postal Code 1550

8. Issuer's telephone number, including area code

(632) 632-3000

9. Former name or former address, and former fiscal year, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
SMC	2,378,509,481
SMC2A	721,012,400
SMC2B	90,428,200
SMC2C	255,559,400

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

Common Shares and Series 2 Preferred Shares; sub-series 2-A, 2-B, 2-C- Philippine Stock Exchange

12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

(b) has been subject to such filing requirements for the past ninety (90) days

Yes

No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

San Miguel CorporationSMC

PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Mar 31, 2015
Currency (indicate units, if applicable)	in Million Php

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Mar 31, 2015	Dec 31, 2014
Current Assets	495,862	539,235
Total Assets	1,242,483	1,217,050
Current Liabilities	337,931	354,411
Total Liabilities	853,337	827,569
Retained Earnings/(Deficit)	174,061	171,743
Stockholders' Equity	389,146	389,481
Stockholders' Equity - Parent	242,100	240,462
Book Value per Share	67.5	67.46

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Operating Revenue	159,171	194,911	159,171	194,911
Other Revenue	1,223	800	1,223	800
Gross Revenue	160,394	195,711	160,394	195,711
Operating Expense	142,618	179,323	142,618	179,323
Other Expense	8,390	8,646	8,390	8,646
Gross Expense	151,008	187,969	151,008	187,969
Net Income/(Loss) Before Tax	9,386	7,742	9,386	7,742
Income Tax Expense	3,351	1,726	3,351	1,726
Net Income/(Loss) After Tax	6,035	6,016	6,035	6,016
Net Income Attributable to Parent Equity Holder	2,318	2,154	2,318	2,154
Earnings/(Loss) Per Share (Basic)	0.33	0.26	0.33	0.26
Earnings/(Loss) Per Share (Diluted)	0.33	0.26	0.33	0.26

Other Relevant Information
None