C03548-2023

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)
May 8, 2023
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
10th Floor Mall of Asia Arena Annex Building, Coral Way cor. J.W. Diokno Blvd., 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 109,632,740,000
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 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

SM Prime’s 1Q2023 Net Income Increases by 27% to PHP9.4 Billion
Background/Description of the Disclosure

(08 May 2022, Pasay City, Philippines) SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, registered a consolidated net income of PHP9.4 billion in January to March of 2023, 27% higher than the PHP7.4 billion in the same period last year. This is on the back of a 20% growth in consolidated revenues to PHP28.7 billion from PHP23.9 billion. Consolidated operating income rose to PHP13.9 billion, 30% higher than last year’s PHP10.7 billion.

SM Prime’s Philippine mall business, which accounts for 54% of the Company’s consolidated revenues, recorded an 88% increase in revenues to PHP15.4 billion in the first quarter of 2023 from PHP8.2 billion in the first quarter of 2022. SM Prime’s local malls’ rental income increased by 72% to PHP13.0 billion from PHP7.6 billion in the same period last year. The growth is due to increase in tenant sales and foot traffic, as well as full charging of rental fees that the Company has implemented since the second half of 2022. The Company’s local cinema, ticket sales, and other revenues rose by 288% to PHP2.5 billion from PHP0.6 billion. Meanwhile, SM Prime’s China mall business registered RMB0.2 billion in revenues in the first three months of 2023, almost the same level as last year.

SM Prime’s residential business group, led by SM Development Corp. (SMDC), posted PHP8.5 billion in revenues, 29% lower than last year’s PHP12.0 billion. The reported decrease in revenue is still partly due to canceled sales as an effect of high inflation, rising domestic interest rates, and the lapse of Bayanihan Law. However, cancellations are beginning to moderate in the first quarter of 2023.

SMDC’s sales take-up in the first three months of 2023 reached PHP35.8 billion, 15% higher than last year’s PHP31.1 billion. This translates to a 23% increase in unit sales to 7,523 in the first quarter of 2023 from 6,110 in the first quarter of 2022.

SM Prime’s other key businesses, which include offices, hotels, and convention centers, reached PHP3.2 billion in the first quarter of 2023, 59% higher from PHP2.0 billion in the first quarter of 2022. SM Prime’s office business segment registered PHP1.7 billion revenues in January to March of 2023, 25% higher than PHP1.4 billion in the same period being reviewed. The Company’s hotels and convention centers business segment recorded PHP1.5 billion in revenues, 129% higher than last year’s PHP0.7 billion.

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.

-End-
Other Relevant Information

For further information, please contact:
John Nai Peng C. Ong
Chief Finance Officer
SM Prime Holdings, Inc.
E-mail: [email protected]
Tel. no.: 8831.1000 loc. 7886


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