Latest Stories

SM Investments reports 2012 net income of P24.7 B


MANILA, Philippines—Henry Sy’s SM Investments Corp. boosted its net profit last year by 16.3 percent to P24.7 billion on a double-digit rise in earnings across its banking, retailing, shopping mall and residential development businesses.

Revenues increased by 12 percent to P223.9 billion while cash flow as measured by earnings before interest, taxes, depreciation and amortization (Ebitda) went up by 24.2 percent to P54.9 billion, for an Ebitda margin of 24.5 percent, SMIC disclosed to the Philippine Stock Exchange on Wednesday.

This resulted in a return on equity of 14.3 percent for SMIC, the country’s most valuable conglomerate.

“SM’s strong full-year results were anchored not only on very favorable economic conditions, but also on the ability of our businesses to efficiently and effectively address the needs of our customers, who have grown increasingly more discerning,” SMIC president Harley Sy said in a press statement.

“Our performance during the year is testament to the hard work, focus, and dedication of the whole SM organization. With the positive economic outlook for 2013, we are confident of sustaining SM’s expansion and growth moving forward,” Sy said.

Banks accounted for the largest share of SM’s consolidated net income, contributing 34.4 percent of total. Retail operations accounted for 28.1 percent, followed by mall operations with 22.9 percent and property development, with 14.6 percent.

The group’s high-volume retailing business under SM Retail reported a net income of P6.6 billion last year, up by 12.5 percent.  Net margin stood at 4.1 percent.

Retail sales rose by 7.6 percent to P159.5 billion, while Ebitda grew by 13.5 percent to P11.8 billion, for an Ebitda margin of 7.4 percent.

SM Retail expanded last year by a total of 34 stores, consisting of five department stores, four SM Supermarkets, seven SM Hypermarkets and 18 SaveMore stores. At the end of the year, SM Retail had a total of 202 stores, consisting of 46 department stores, 37 SM Supermarkets, 37 SM Hypermarkets, and 82 SaveMore stores.

“In view of the positive outlook for the economy in 2013, SM Retail will continue to expand its various store formats, especially its highly-successful stand-alone SaveMore stores, which are typically located in areas underserved by organized retail,” the company said.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Banking and Finance , Henry Sy , net profit , Philippine Stock Exchange , Real Estate , Retail Trade , shopping malls , SM Investments , SM Investments Corp.

  • http://www.facebook.com/profile.php?id=100004454200115 Allan Wasahlan

    Cycle alila sa sarili nating lugar ng mga tsekwa tsk tsk.

  • http://www.facebook.com/profile.php?id=100004454200115 Allan Wasahlan

     Ah laki kita ng SM kumusta naman kaya mga contractual employees nila. happy ba?

  • NoWorryBHappy

    Isn’t it time for SM to make their exploited contractual employees permanent ?

    • upupperclassman

      It will never happen.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Nepal officials go to Everest to try to end crisis
  • Escudero ready to defend self should name appear in Napoles’ list
  • Obama calls for peaceful end to island dispute
  • Russia not abiding by agreement on Ukraine—Obama
  • Magnitude 6.7 quake off British Columbia coast
  • Sports

  • Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report
  • Benzema guides Madrid to 1-0 win over Bayern
  • Suns’ Goran Dragic win NBA’s Most Improved Player award
  • Heat go up 2-0, hold off Bobcats 101-97
  • Ronaldo shakes off injury fears to play Bayern
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • PH-HK relations repaired, but families of victims still being courted
  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Marketplace