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

Sep 30, 2014

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	2,378,136,872
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:

Philippine Stock Exchange - (a) Common Shares; and (b)

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	Sep 30, 2014
Currency (indicate units, if applicable)	Php (in millions)

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Sep 30, 2014	Dec 31, 2013
Current Assets	558,250	489,006
Total Assets	1,230,501	1,170,087
Current Liabilities	349,488	335,546
Total Liabilities	844,205	804,310
Retained Earnings/(Deficit)	174,106	166,486
Stockholders' Equity	386,296	365,777
Stockholders' Equity - Parent	246,168	237,707
Book Value per Share	69.86	66.34

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Operating Revenue	194,029	185,609	598,737	543,620
Other Revenue	1,751	9,783	4,071	12,098
Gross Revenue	195,780	195,392	602,808	555,718
Operating Expense	180,176	168,579	552,011	497,654
Other Expense	10,090	9,696	21,435	38,209
Gross Expense	190,266	178,275	573,446	535,863
Net Income/(Loss) Before Tax	5,514	17,117	29,362	19,855
Income Tax Expense	771	2,392	6,211	2,177
Net Income/(Loss) After Tax	4,743	14,725	23,151	17,678
Net Income Attributable to Parent Equity Holder	1,149	9,949	13,170	7,549
Earnings/(Loss) Per Share (Basic)	-0.16	3.55	3.61	1.25
Earnings/(Loss) Per Share (Diluted)	-0.16	3.52	3.59	1.24

Other Relevant Information
None