SM Prime Reports Robust Growth in Nine-Month Earnings
Leading Philippine property developer SM Prime Holdings Inc. announced a significant increase in its financial performance for the first nine months of 2025. The company revealed on Monday, November 10, 2025, that its net income climbed by 10 percent to P37.2 billion, a notable rise from the P33.9 billion recorded during the same period in the previous year.
Mall and Convention Business Fuels Revenue Growth
The impressive growth was primarily lifted by stronger revenues generated from its mall and convention center operations. For the third quarter alone, the company's profit saw an eight percent increase, reaching P12.8 billion. Looking at the broader picture, SM Prime's consolidated revenues for the nine-month period grew by four percent, totaling P103.4 billion.
The mall segment was the undeniable star performer, with its revenues expanding by seven percent to P61 billion. This substantial figure means the mall business contributed 59 percent of the company's total consolidated revenues, solidifying its position as the core driver of SM Prime's financial health.
Mixed Performance Across Business Segments
While the mall segment thrived, the company's other business units showed varied results. The residential business segment experienced a slight contraction, easing by two percent to P32.6 billion. This was attributed to a slower take-up rate, particularly in its mid-market housing projects.
In contrast, the hotels and convention centers segment demonstrated remarkable strength, surging by nine percent to P6 billion. This surge was powered by higher bookings for MICE activities (Meetings, Incentives, Conventions, and Exhibitions), indicating a strong recovery in the events and tourism-related sectors.
On capital investments, SM Prime remained aggressive. The company's capital expenditures reached P59.3 billion, marking an 11 percent increase. The majority of these funds were channeled into the ongoing development and expansion of its mall and residential housing projects.
As of the reporting period, SM Prime's total assets stood at a formidable P1.08 trillion. The company maintained a conservative financial structure with a net debt-to-equity ratio of 46:54, reflecting a stable balance sheet amidst its expansive growth initiatives.
