SM Investments books P82.6 billion net income in 2024

Benise Balaoing

ABS-CBN News

<p>MANILA -- SM Investments said its net income climbed 7 percent to P82.6 billion in 2024, up from the P77 billion it made in 2023.</p><p>The Sy-led conglomerate said this is because all of their core businesses grew on the back of strong macroeconomic fundamentals and healthy consumer sentiment. </p><p>SM Retail&#x27;s net earnings climbed to P20.9 billion from P19.9 billion in 2023. Revenue also grew 5 percent to P434.5 billion.</p><p>The firm also noted that the food segment was one of the strong performers, with revenues growing 8 percent. Specialty stores&#x27; revenues also expanded by 3 percent.</p><p>Property arm SM Prime Holdings, meanwhile, saw its net income soar 14 percent to P45.6 billion. Malls accounted for 55 percent of revenues, while residences contributed 34 percent.</p><div><a href="https://www.abs-cbn.com/news/business/2025/2/6/sm-prime-sees-elections-boosting-spending-to-invest-p33-b-this-year-1518" rel="noopener noreferrer" target="_blank">SM Prime sees economy getting boost from election spending; to invest P33-B in malls, hotels, offices this year</a></div><p>Its banks <a href="https://www.abs-cbn.com/news/business/2025/2/24/bdo-lowers-instapay-fee-with-launch-of-new-website-1624" rel="noopener noreferrer" target="_blank">BDO</a> and Chinabank also saw their net profits grow--BDO&#x27;s net profit increased by 12 percent to P82.0 billion, while <a href="http://China Bank posts record-high net income in first half of 2024" rel="noopener noreferrer" target="_blank">Chinabank</a>&#x27;s went up to P24.8 billion.</p><p>SM said it grew by an additional 619 retail stores, two malls, and 73 bank branches in 2024. </p><div><a href="https://www.abs-cbn.com/news/business/2024/12/26/sm-group-cautiously-optimistic-about-2025-2004" rel="noopener noreferrer" target="_blank">SM Group cautiously optimistic about 2025</a></div><div><a href="https://www.abs-cbn.com/business/2024/5/8/sm-investments-q1-net-income-up-6-percent-at-p18-4-billion-1852" rel="noopener noreferrer" target="_blank">SM Investments Q1 net income up 6 percent at P18.4 billion but retail slips</a></div>

<p>SM Investments said its net income climbed 7 percent to P82.6 billion in 2024, up from the P77 billion it made in 2023.</p>

SM Investments said its net income climbed 7 percent to P82.6 billion in 2024, up from the P77 billion it made in 2023.

SM Investments books P82.6 billion net income in 2024 | ABS-CBN

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SM Investments books P82.6 billion net income in 2024

SM Investments books P82.6 billion net income in 2024

Benise Balaoing,

ABS-CBN News

Published Feb 28, 2025 03:29 PM PHT

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