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Finance

SM Prime Holdings, Inc.

  • 32.85 PHP
  • -0.15
  • -0.45%
  • Philippines
    Apr 20, 2018
  • Ticker
    PHS(SMPH)
  • Prev. close
    33.00
  • Market cap (PHP)
    953,015M
  • Market cap (USD)
    18,292.90M
  • Shares
    28,879.20M

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. The company operates in four segments: Malls, Residential, Commercial & Hotel 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. SM Prime Holdings was founded on January 6, 1994 and is headquartered in Pasay, Philippines.

Financial Highlights

Dec 2017 PHPUSD
Revenue92,136.19M1,827.56M
Gross Profit65,424.38M1,297.72M
Operating income35,986.17M713.80M
Income before tax35,947.86M713.04M
Net income27,573.86M546.94M
EBITDA50,802.30M1,007.68M
Diluted EPS0.950.01
Dividends Per Share----
Total Assets538,417.59M10,785.60M
Total liabilities275,543.68M5,519.70M
Total equity258,957.22M5,187.44M
Operating cash flow31,355.49M621.95M
Currency in PHPCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 60,888.28M 66,971.95M 72,679.89M 80,931.16M 92,136.19M
Gross Profit 40,944.77M 45,826.19M 51,076.43M 57,432.63M 65,424.38M
Operating income 21,342.33M 24,267.25M 29,140.76M 31,557.13M 35,986.17M
Income before tax 20,710.09M 23,674.13M 34,367.93M 30,988.67M 35,947.86M
Net income 16,274.82M 18,390.35M 28,302.09M 23,805.71M 27,573.86M
EBITDA 31,210.35M 34,998.17M 39,574.38M 44,194.33M 50,802.30M
Diluted EPS 0.58 0.66 0.98 0.82 0.95
Dividends Per Share 0.19 0.21 0.23 0.26 --
Total Assets 336,053.13M 389,289.96M 433,828.43M 465,560.13M 538,417.59M
Total liabilities 169,831.61M 187,051.76M 217,985.59M 230,196.58M 275,543.68M
Total equity 163,266.54M 199,087.69M 212,488.82M 231,481.03M 258,957.22M
Operating cash flow 20,753.58M 3,623.90M 29,978.30M 34,514.53M 31,355.49M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 1,433.68M 1,508.76M 1,596.20M 1,704.26M 1,827.56M
Gross Profit 964.09M 1,032.38M 1,121.74M 1,209.42M 1,297.72M
Operating income 502.53M 546.69M 639.99M 664.53M 713.80M
Income before tax 487.64M 533.33M 754.79M 652.56M 713.04M
Net income 383.21M 414.30M 621.57M 501.30M 546.94M
EBITDA 734.88M 788.44M 869.13M 930.65M 1,007.68M
Diluted EPS 0.01 0.01 0.02 0.01 0.01
Dividends Per Share 0.00 0.00 0.00 0.00 --
Total Assets 7,571.74M 8,702.62M 9,219.60M 9,365.05M 10,785.60M
Total liabilities 3,826.54M 4,181.56M 4,632.57M 4,630.55M 5,519.70M
Total equity 3,678.62M 4,450.62M 4,515.75M 4,656.39M 5,187.44M
Operating cash flow 488.66M 81.64M 658.38M 726.81M 621.95M

Valuation Measures

Dec 2017
PER39.22
ROA5.49%
ROE11.24%
Operating margin39.05%
Profit margin29.92%

Key executives

  • President & Director: Hans T. Sy
  • Chief Finance Officer & Compliance Officer: John C. Ong
  • Director, Chief Information Officer & Executive VP: Jeffrey C. Lim
  • Vice President-Finance: Teresa Cecilia H. Reyes
  • Vice President-Internal Audit: Christopher S. Bautista

Shareholders

  • SM Investments Corp. (49.7%)
  • SY HENRY T JR (2.3%)
  • SY HANS T (2.3%)
  • Grand China International Ltd. (2.3%)
  • SY TERESITA T (2.3%)
  • SY HERBERT T (2.2%)
  • SY ELIZABETH T (2.2%)
  • APG Asset Management NV (2.1%)
  • OppenheimerFunds, Inc. (1.8%)
  • Oriental Land Development Ltd. (1.6%)

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: +63.2.831.1000

Related Companies

  • Affluent Capital Enterprises
  • Mega Make Enterprises Ltd.
  • SM Development Corporation
  • Highlands Prime Inc.

Competitors

  • Megaworld Corp.
  • Ayala Land Inc.
  • Robinsons Land Corp.
  • Shang Properties, Inc.
  • Alliance Global Group Inc.
  • Global-Estate Resorts, Inc.
  • Rockwell Land Corp.
  • Cosco Capital, Inc.
Last Updated on 20 Apr, 2018

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