SMIC reports 9% net income increase to P20.1B in Q1 2025

SM Investments Corp. (SMIC) reported a 9% increase in net income to P20.1 billion for the first quarter of 2025, driven by strong domestic demand and decelerating inflation.

Consolidated revenues increased by 6% to P152 billion from the same period last year, with banking units contributing more than half (51%) of SMIC's earnings.

SMIC president Frederic DyBuncio attributed positive sentiment to falling inflation rates and noted that consumer confidence remains strong across all business segments despite global uncertainties.

The retail unit saw an 18% increase in net income to P3.6 billion, while banking units reported increased profits with BDO Unibank and China Banking Corp. contributing significantly.

SM Prime Holdings, the property unit, posted a robust performance with an 11% rise in net income to P11.7 billion, driven by growth across all segments including malls, residentials, office and warehouse spaces, and hotels.

SM Prime outlined a three-pronged roadmap for long-term growth focusing on organic expansion, regional development, and diversification, including the opening of new malls in Laoag, La Union, and Zamboanga this year.