C00815-2024

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)
Feb 19, 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
7th Floor MOA Square, Seashell Lane cor. Coral Way, Mall of Asia Complex, Brgy. 76, Zone 10, CBP-1A, Pasay City, 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 135,432,740,000
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 Net Income Up by 33% in FY2023
Background/Description of the Disclosure

(19 February 2024, Pasay City, Philippines) SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, posted a PHP40.0 billion consolidated net income in 2023, 33% higher than PHP30.1 billion in 2022. The Company’s consolidated revenues is PHP128.1 billion, 21% greater than last year’s PHP105.8 billion. Consolidated operating income grew by 24% to PHP61.3 billion from PHP49.2 billion.

“The favorable result we achieved in 2023 reflects the strong support and trust from our tenants and customers despite the economic challenges encountered in 2023. We continue to see this growth momentum this year as we pursue our expansion plans in our key businesses, and explore new opportunities to expand our businesses,” SM Prime President Jeffrey Lim said.

SM Prime’s mall business accounts for 56% of the Company’s consolidated revenues, and posted a 30% growth in revenues to PHP71.9 billion in 2023 from PHP55.4 billion in 2022. The Company’s mall rental income rose by 24% to PHP61.3 billion from PHP49.7 billion.

SM Prime’s residential business group, led by SMDC, recorded an 8% growth in revenues to PHP43.1 billion in 2023 from PHP40.1 billion in 2022. Residential group’s gross profit rose by 15% to PHP25.4 billion in 2023 from PHP22.1 billion in 2022. Reservation sales stood at PHP102 billion in 2023. This translates to more than 21,000 residential units sold in 2023.

SM Prime’s other key businesses, which include offices, hotels, and convention centers, reported PHP13.1 billion in revenues in 2023, a 26% increase from PHP10.3 billion in 2022. The Company’s office unit posted PHP6.8 billion in revenues, while hotels and convention centers unit reached PHP6.3 billion in 2023.

SM Prime is looking at PHP100 billion for its capital expenditure program for 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