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)
Feb 17, 2025
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, PhilippinesPostal Code1300
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
137,831,040,000
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 posts record annual profit, up 14% to P45.6 Billion
Background/Description of the Disclosure
Photo Caption: SM Prime develops dynamic spaces that serve as community hubs for nation-building. In 2024, SM Malls hosted 180 job fairs nationwide, welcoming over 100,000 applicants.
(February 17, 2025, Pasay City, Philippines) - SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, reported its highest-ever consolidated net income of P45.6 billion in 2024, up 14% from P40 billion in 2023. The double-digit improvement was driven by higher contributions from all its business segments.
Consolidated revenues during the same period rose 10% to an all-time high of P140.4 billion from P128.1 billion due to higher rental income, real estate sales and revenues from services and experiential offerings.
Malls accounted for 55% of revenues, followed by residences at 34%, hotels and convention centers at 6%, and offices and warehouses at 5%.
“The results we achieved in 2024 provide a solid foundation for future growth. We have several key projects in development that we expect will benefit from this positive momentum,” said SM Prime president Jeffrey C. Lim.
SM Prime capped off 2024 with impressive results, delivering its highest-ever fourth-quarter revenues and net income. Consolidated revenues grew 14% year-on-year from P35.5 billion to P40.6 billion, while net income accelerated 19% from P9.9 billion to P11.8 billion.
Strong holiday spending, the opening of two new malls, increased real estate sales and blockbuster film releases led to the outstanding results.
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Other Relevant Information
John Nai Peng C. Ong Chief Finance Officer SM Prime Holdings, Inc. E-mail: [email protected] Tel. no.: 8831.1000 loc. 7886 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.
SM Prime Holdings, Inc.SMPH