Sm Prime Holdings, Inc. · PSE:SMPH
Sm Prime — Q1 2025 Earnings Presentation
17 slides from Sm Prime's earnings presentation, Apr 29, 2025
Slide 1: First Quarter 2025 Analyst and Investor Briefing
@ SM PRIME FIRST QUARTER 2025 ANALYST AND INVESTOR BRIEFING APRIL 29, 2025
Slide 2: Disclaimer
DISCLAIMER This presentation does not constitute a prospectus or other offering memorandum in whole or in part. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company. There shall be no sale of these securities in any state or juri
Slide 3: Market Capitalization, Consolidated Assets, Total Equity
P693B \/P1,047B\), P448B MARKET CONSOLIDATED TOTAL EQUITY CAPITALIZATION ASSETS
Slide 4: Investment advantages
=F ee Ps « ADVANTAG » network of malls, mid- MARKET TF hettondos:MIGEvences Sy) STRATEGIC ¢ P376B+ capex over 5 years LEADERSHIP srtig came , ~- EXPANSION « P646B in investment properties Se SSE EB RESILIENT ¢ 61% of revenues from rentals EARNINGS « Consistent YoY growth (excl. 2020) GREEN ¢ 50% of
Slide 5: 1Q 2025 Financial Highlights
1Q 2025 FINANCIAL HIGHLIGHTS P32.8B REVENUES P16.7B EBIT P11.7B NET INCOME 62% EBITDA MARGIN P19.3B CAPEX SM PRIME +7% +13% +11% +3 pp steady Topline grew on higher rental income, real estate sales and other revenues Operating income expanded as costs and expenses eased, primarily due to lower marke
Slide 6: Quarterly Results
QUARTERLY RESULTS In Php mn, except percentage figures 1Q 2024 1Q 2025 YoY Revenues 30,719 32,773 7% Cost and Expenses 16,008 16,095 1% Operating Income 14,711 16,679 13% Net Income Attributable to Parent 10,462 11,653 11% EBITDA 18,111 20,233 12% See Annex for further details e Revenues grew 7% whi
Slide 7: Revenue Breakdown
REVENUE BREAKDOWN In Php mn, except % figures 1Q 2024 1Q 2025 Rent 18,535 20,021 8% Real Estate Sales 8,788 9,217 5% Others 3,396 3,536 4% Total Revenues 30,719 32,773 7% KEY HIGHLIGHTS Others 1Q 2025 Real Estate Sales 28.1% P32.8B Rent 61.1% © Rent contributed 61% of total revenues, up slightly fro
Slide 8: Capital Structure
CAPITAL STRUCTURE Asset growth is well-supported by disciplined balance sheet management, with healthy liquidity and strategically managed debt. ASSET GROWTH LIQUIDITY POSITION DEBT AND LEVERAGE See Annex for further details +3% Interest-bearing Debt ° P401.1B 18% Total Liabilities P599.4B Net Debt-
Slide 9: Revenue Contribution per Segment
REVENUE CONTRIBUTION PER SEGMENT In Php mn, except % figures Malls Residences Hotels and CC Offices and Warehouses Total (net of eliminations) 1Q 2024 18,020 9,250 1,776 1,790 30,719 1Q 2025 19,225 9,697 2,029 1,950 32,773 7% 5% 14% 9% 7% KEY HIGHLIGHTS 10 2025 P32.8B ¢ Steady growth largely driven
Slide 10: Malls
MALLS Growth fueled by new mall openings, strong occupancy and increasing customer traffic InPhpmn 1Q2024 1Q2025 YoY Revenue 18,020 19,225 7% EBIT 9,743 11,113 14% EBITDA 12,460 13,958 12% The SM Mall Network (N:95) - = SM PRIME for PH malls only Total GFA (in mn sqm) Total GLA (in mn sqm) Occupancy
Slide 11: *as of December 31, 2024
11% 153,572* -9% *as of December 31, 2024
Slide 12: Hotels and Convention Centers
HOTELS AND CONVENTION CENTERS Robust occupancy and improved average daily rates drove strong revenue gains InPhpmn 1Q2024 1Q2025 YoY Revenue 1,776 2,029 14% EBIT 392 438 12% EBITDA 558 631 13% Hotel Brands CONRAD Rediyen® park inn MANILA as peal ARS LACE i” 7 TAAL VISTA HOTEL Pic “Sands SM PRIME HOT
Slide 13: 1,149 1,332 16% 1,603 1,783 11%
1,149 1,332 16% 1,603 1,783 11%
Slide 14: Pasay
PASAY 360 SM Prime’s most transformative integrated property development— an unprecedented urban estate that fuses connectivity, sustainability, livability, tourism and commerce. KEY HIGHLIGHTS © Coastal land expansion is 67% complete e Sand pouring on track for completion by year-end e Land titling
Slide 15: Strategic Updates
STRATEGIC UPDATES ORGANIC GROWTH ACROSS PORTFOLIO MALLS Expansion and redevelopments RESIDENCES Provincial and horizontal projects OFFICES & WAREHOUSES >147,000 sqm of new office space HOTELS & CONVENTION CENTERS >1,500 guest rooms >47,000 sqm exhibition space SM PRIME PREMIUM PRIMARY RESIDENCES 2H
Slide 16: Outlook
OUTLOOK US tariffs pose risks, but the Philippines’ domestic-driven economy and limited exposure should contain the impact. Macro tailwinds offer added support to our portfolio. MALL. [ es | MALLS Strong GDP growth (~6%) Moderating inflation (~3%) Wage adjustments Low unemployment Mid-term elections
Slide 17: SM Prime
SM PRIME v7