ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Finance

SM Prime Holdings, Inc.

Company Background

SM Prime Holdings used to be the mall development arm of SM Investments, the publicly listed holding company of the Sy family, the Philippines' richest. But in 2013, the Sy family decided to consolidate its property assets under SM Prime. The consolidation process saw the Sy-controlled condominium builder SM Development, leisure property firm Highlands Prime and privately held SM Land being folded into SM Prime.

The restructuring made SM Prime the Philippines' biggest real estate company and one of the largest in the region in terms of market capitalization.

With its enlarged scale, SM Prime in early 2014 launched a five-year plan that calls for spending 400 billion pesos to almost double its real estate projects and sales by 2019. The plan includes expanding the company's shopping centers in the Philippines, from 48 at the end of 2013, to 74. This is on top of operations in China, where the company has five malls.

SM Prime is managed by Hans Sy, a son of Henry Sy, SM Group founder and the Philippines' richest man.

Business Summary

SM Prime Holdings, Inc. develops, conducts, operates and maintains modern commercial shopping centers. It operates through the following segments: Malls, Residential, Commercial, and Hotels and Convention Centers. The Mall segment develops, conducts, operates and maintains the business of modern commercial shopping centers and all businesses related thereto such as the conduct, operation and maintenance of shopping center spaces for rent, amusement centers, or cinema theaters within the compound of the shopping centers. The Residential and Commercial segments are involved in the development and transformation of major residential, commercial, entertainment and tourism districts through sustained capital investments in buildings and infrastructure. The Hotels and Convention Centers segment engages in and carry on the business of hotel and convention centers and operates and maintains any and all services and facilities incident thereto. The company was founded on January 6, 1994 and is headquartered in Pasay, Philippines.

Financial Highlights

Dec 2020 PHPUSD
Revenue81,899.29M1,651.17M
Gross Profit50,624.22M1,020.63M
Operating income29,074.18M586.16M
Income before tax22,463.74M452.89M
Net income18,006.51M363.03M
EBITDA39,415.79M794.66M
Diluted EPS0.620.01
Dividends Per Share0.080.00
Total Assets722,358.92M15,041.78M
Total liabilities411,641.29M8,571.66M
Total equity309,284.06M6,440.26M
Operating cash flow10,116.06M203.95M
Currency in PHPCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 80,931.16M 90,921.85M 104,080.56M 118,311.49M 81,899.29M
Gross Profit 57,432.63M 64,210.03M 73,826.30M 83,643.62M 50,624.22M
Operating income 31,557.13M 40,628.79M 40,416.81M 56,692.32M 29,074.18M
Income before tax 30,988.67M 35,947.86M 41,966.17M 49,161.99M 22,463.74M
Net income 23,805.71M 27,573.86M 32,172.88M 38,085.60M 18,006.51M
EBITDA 44,194.33M 49,587.96M 57,982.65M 67,517.40M 39,415.79M
Diluted EPS 0.82 0.95 1.11 1.31 0.62
Dividends Per Share 0.26 0.35 0.35 0.18 0.08
Total Assets 465,560.13M 538,417.59M 604,134.31M 667,279.67M 722,358.92M
Total liabilities 230,196.58M 275,543.68M 325,056.35M 364,763.40M 411,641.29M
Total equity 231,481.03M 258,957.22M 275,302.99M 300,916.17M 309,284.06M
Operating cash flow 34,514.53M 31,355.49M 40,765.68M 45,068.75M 10,116.06M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 1,704.26M 1,803.48M 1,975.60M 2,284.87M 1,651.17M
Gross Profit 1,209.42M 1,273.63M 1,401.33M 1,615.35M 1,020.63M
Operating income 664.53M 805.89M 767.17M 1,094.86M 586.16M
Income before tax 652.56M 713.04M 796.58M 949.43M 452.89M
Net income 501.30M 546.94M 610.69M 735.52M 363.03M
EBITDA 930.65M 983.60M 1,100.59M 1,303.91M 794.66M
Diluted EPS 0.01 0.01 0.02 0.02 0.01
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 9,365.05M 10,785.60M 11,488.71M 13,175.62M 15,041.78M
Total liabilities 4,630.55M 5,519.70M 6,181.54M 7,202.35M 8,571.66M
Total equity 4,656.39M 5,187.44M 5,235.39M 5,941.67M 6,440.26M
Operating cash flow 726.81M 621.95M 773.79M 870.38M 203.95M

Valuation Measures

Dec 2020
PER61.69
ROA2.59%
ROE5.90%
Operating margin35.49%
Profit margin21.98%

Key executives

  • President & Executive Director: Jeffrey C. Lim
  • Chief Finance Officer & Compliance Officer: Nai Peng C. Ong
  • VP-Finance & Corporate Information Officer: Teresa Cecilia H. Reyes
  • Chief Risk Officer: Marvin Perrin L. Pe
  • Vice President-Internal Audit: Christopher S. Bautista

Shareholders

  • APG Asset Management NV (2.8%)
  • The Vanguard Group, Inc. (1.1%)
  • Invesco Advisers, Inc. (1.1%)
  • Matthews International Capital Management LLC (0.8%)
  • BlackRock Fund Advisors (0.6%)
  • BlackRock Advisors (UK) Ltd. (0.2%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.2%)
  • BDO Unibank, Inc. (Investment Management) (0.2%)
  • Norges Bank Investment Management (0.1%)
  • Geode Capital Management LLC (0.1%)

Contact Details

  • Website:http://www.smprime.com
  • Address: Mall of Asia Arena, Annex Building, Coral Way Corner J.W. Diokno Blvd, Pasay, 1300, Philippines
  • Phone: +63.632.8831.1000

Related Companies

  • SM Lifestyle Entertainment, Inc.
  • Xiamen SM City Co., Ltd.
  • SM Supermalls
  • SM Lifestyle Center
  • SM City (Chongqing) Co., Ltd.
  • Chas Realty & Development Corp.
  • SM Land (China) Ltd.
  • Sm Arena Complex Corp.
  • Tagaytay Resort Development Corp.
  • Associated Development Corp. (Philippines)
  • Costa Del Hamilo, Inc.
  • Premier Southern Corp.
  • Premier Central, Inc.
  • Consolidated Prime Development Corp.
  • First Asia Realty Development Corp.
  • Affluent Capital Enterprises
  • Mega Make Enterprises Ltd.
  • Prime Metroestate, Inc.
  • SM Development Corporation
  • Highlands Prime Inc.

Competitors

  • Alliance Global Group Inc.
  • Ayala Corp.
  • Cityland Development Corporation
  • Shang Properties, Inc.
  • Sta. Lucia Land, Inc.
  • Empire East Land Holdings Inc.
  • Rockwell Land Corp.
  • D.M. Wenceslao & Associates, Inc.
  • Keppel Philippines Properties, Inc.
  • 8990 Holdings, Inc.
  • Global-Estate Resorts, Inc.
  • Megaworld Corp.
  • Robinsons Land Corp.
  • JG Summit Holdings Inc.
  • Filinvest Development Corporation
  • Vista Land & Lifescapes, Inc.
Last Updated on 27 Jul, 2021

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more