{"id":331788,"date":"2025-03-06T14:44:46","date_gmt":"2025-03-06T06:44:46","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331788"},"modified":"2025-03-06T14:44:49","modified_gmt":"2025-03-06T06:44:49","slug":"trade-the-news-sms-income-rises-7-to-p82-6-billion-in-2024","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-sms-income-rises-7-to-p82-6-billion-in-2024\/","title":{"rendered":"Trade the News: SM’s income rises 7% to P82.6 billion in 2024"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>SM Investments Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>SM<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 1,092.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

SM Investments Corp. (SM), the investment holding company of the Sy family, recorded higher profit last year despite inflationary headwinds and the high base of 2023.<\/p>\n\n\n\n

SMIC saw its net income jump by seven percent to P82.6 billion in 2024 from P77 billion the previous year.<\/p>\n\n\n\n

Of the total net income, banking contributed the largest share at 49 percent, followed by property at 26 percent, retail at 18 percent and portfolio investments at seven percent.<\/p>\n\n\n\n

Consolidated revenues during the year reached P654.8 billion, up by six percent from P616.3 billion in 2023.<\/p>\n\n\n\n

SMIC president and CEO Frederic DyBuncio said the fourth quarter registered the highest revenue growth rate of 9.4 percent, giving the company solid momentum into 2025.<\/p>\n\n\n\n

\u201cWe ended 2024 with a strong performance, despite the high base of 2023 and inflationary headwinds during the year. Our core businesses all grew, supported by positive macroeconomic fundamentals and healthy consumer sentiment,\u201d DyBuncio said.<\/p>\n\n\n\n

In 2024, SM Retail delivered a net income of P20.9 billion, an improvement from P19.9 billion in the previous year.<\/p>\n\n\n\n

Retail revenues increased by five percent year-on-year to P434.5 billion, with the food retail segment serving as the strongest performer as a result of the expanded store networks and improved customer engagement.<\/p>\n\n\n\n

SMIC said that specialty stores also registered a solid performance, while department store operations remained resilient.<\/p>\n\n\n\n

\u201cIn retail, discretionary spending remained strong throughout the year, particularly in branded fashion, health and beauty and household appliances. Meanwhile, food retailing gained momentum across all formats in the fourth quarter as inflation tapered,\u201d DyBuncio said.<\/p>\n\n\n\n

Higher contributions from all its business segments fueled a 14-percent surge in the net income of SM Prime Holdings Inc. in 2024 compared to last year\u2019s level. The integrated property developer recorded a net income of P45.6 billion, up from the previous year\u2019s P40 billion.<\/p>\n\n\n\n

SM Prime\u2019s revenues expanded by 10 percent to P140.4 billion due to higher rental income, real estate sales and revenues from services and experiential offerings.<\/p>\n\n\n\n

For the group\u2019s banking business, BDO reported a bottom line of P82 billion, 12-percent higher than in 2023, supported by the solid performance across its core businesses.<\/p>\n\n\n\n

China Banking Corp., meanwhile, booked a 13-percent improvement in profit to P24.8 billion as revenues rose by 21 percent to P65.5 billion.<\/p>\n\n\n\n

SMIC\u2019s portfolio investments likewise continued to perform positively last year with Philippine Geothermal Production Co. contributing 46 percent of total portfolio net income, NEO at 22 percent and Belle Corp. at 10 percent.<\/p>\n\n\n\n

Overall, the group expanded by an additional 619 retail stores, two malls and 73 bank branches in 2024, with over 85 percent of its footprint in the provinces.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-331788","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=331788"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331788\/revisions"}],"predecessor-version":[{"id":331790,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331788\/revisions\/331790"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=331788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=331788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=331788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}