C05177-2024

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Aug 5, 2024
2. SEC Identification Number
AS094-000088
3. BIR Tax Identification No.
003-058-789
4. Exact name of issuer as specified in its charter
SM PRIME HOLDINGS, INC.
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7/F MOA Square, Seashell Lane cor. Coral Way, Mall of Asia Complex, Brgy. 76 Zone 10, CBP 1-A, Pasay City, Metro Manila, Philippines Postal Code 1300
8. Issuer's telephone number, including area code
(632) 8831-1000
9. Former name or former address, 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
COMMON STOCK, P1 PAR VALUE 28,879,231,694
DEBT SECURITIES – RETAIL BOND 140,432,740,000
11. Indicate the item numbers reported herein
ITEM # 9, LETTER B.

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.

SM Prime Holdings, Inc.SMPH

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

PRESS RELEASE

SM Prime’s 2Q 2024 Net Income Improves by 16%
Background/Description of the Disclosure

(August 05, 2024, Pasay City, Philippines) - SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, reported a 16% increase in consolidated net income to PHP11.6 billion in the second quarter of 2024 from PHP10.0 billion in the second quarter of 2023. This is supported by a 9% growth in consolidated revenues to PHP34.0 billion in the second quarter of 2024 from PHP31.2 billion in the second quarter of the previous year.

SM Prime achieved a PHP22.1 billion consolidated net income in the first half of 2024, 13% higher than PHP19.4 billion in the first half of 2023. The Company’s consolidated revenues recorded PHP64.7 billion, an 8% growth from PHP59.9 billion in the same period of the previous year.

“SM Prime’s growth in the first half of 2024 remains steady as we realize value from our past expansion projects across our business portfolio. As we celebrate this year our 30th anniversary as a public company, we are determined to continue expanding our core businesses across the Philippines, and introduce innovative and bigger projects in the coming years. SM Prime remains steadfast in bringing the SM brand closer to more Filipinos through our integrated property developments that promote climate resilience environmental sustainability, and prosperity to all,” shared SM Prime President Jeffrey C. Lim.

SM Prime’s mall business accounts for 58% of the consolidated revenues. Mall rental revenues reached PHP16.3 billion in the second quarter of 2024, a 10% increase from PHP14.9 billion in the same period last year. This brought mall rental revenues to PHP32.1 billion in the first half of 2024, a 9% growth from PHP29.4 billion in the first half of 2023.

The Company’s total mall revenues reached PHP37.5 billion in the first half of 2024, 8% higher from PHP34.6 billion in the first half of 2023.

SM Prime’s primary residential business unit accounted for 29% of the consolidated revenues and registered PHP10.4 billion in revenues in the second quarter of 2024, 23% higher than PHP8.5 billion in the previous quarter. This brought primary residential business unit’s revenues to PHP18.9 billion in the first half of 2024, up by 8% from PHP17.6 billion in the first half of 2023. The Company’s reservation sales are at PHP40.2 billion in the first half of 2024.

SM Prime’s offices, hotels, and convention centers business segments reported PHP7.0 billion in revenues in the first half of 2024, a 13% increase from PHP6.2 billion in the first half of 2023. The Company’s office business unit recorded PHP3.6 billion in revenues, while the hotels and convention centers business unit registered PHP3.4 billion in revenues in the first half of 2024.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.


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Other Relevant Information

For further information, please contact:
Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: [email protected]
Tel. no.: +632 8862 7940

Forward-looking Statement
This document may contain forward-looking statements and forward-looking information that are subject to significant risks and uncertainties including, without limitation, statements relating to known and unknown risks; uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expected future results; performance or achievements expressed or implied by forward-looking statements; our overall future business, financial condition, and results of operations, including, but not limited to financial position or cash flow; our goals for or estimates of future operational performance or results; and changes in the regulatory environment including, but not limited to, policies, decisions, and determinations of governmental or regulatory authorities. Although: (1) SM Prime Holdings, Inc. has extensive experience; and (2) the forward-looking statements may be reasonable, nothing herein should be relied upon as a commitment from SM Prime Holdings, Inc. as we cannot guarantee future events, performance or events due to various risks and uncertainties.
Filed on behalf by:
Name Alexander Pomento
Designation Vice President