SM Investments' Q1 net income hits P20.1 billion

SM Investments Corporation reported a 9 percent increase in consolidated net income to P20.1 billion in the first quarter of 2025, up from P18.4 billion in the same period last year, as strong consumer spending and easing inflation supported growth across its core businesses.

- Ehda M. Dagooc

Total revenues rose 6 percent year-on-year to P152.0 billion, compared to PHP143.7 billion in Q1 2024. The positive performance was buoyed by a favorable macroeconomic environment, including a drop in the country’s inflation rate to 1.4 percent in April, which helped lift household consumption.

“We're pleased with how the year has started,” said Frederic C. DyBuncio, President and Chief Executive Officer (CEO) of SM Investments.

“While we are keeping an eye on global challenges, we are confident about the growth outlook for the Philippines,” DyBuncio added.

Banking contributed the largest share of net income at 51 percent. Its property arm accounted for 29 percent, while retail delivered 14 percent, and portfolio investments comprised the remaining six percent.

Retail: Consumer Confidence Boosts Spending

SM Retail posted an 18 percent increase in net income to P3.6 billion, while revenues climbed 7 percent to P100.3 billion on the back of robust demand across both food and non-food categories.