SM Investments Corp. said Wednesday its consolidated net income rose 6 percent in the first nine months of 2025 to P64.4 billion from P60.9 billion in the same period last year, despite challenges from adverse weather.
Consolidated revenues for the conglomerate, which has interests in retail, property and banking, increased 4 percent to P482.3 billion from P462.5 billion a year ago.
“The third-quarter performance remained within our expectations. Despite the challenges brought about by adverse weather and flooding, we continued to see resilient financial performance across our businesses,” said SM Investments president and chief executive Frederic DyBuncio.
“While external factors may temper overall economic growth, we maintain an optimistic outlook as we move into the fourth quarter,” he said.
Banking accounted for the largest share of SM Investments’ net income at 50 percent, followed by property at 28 percent, retail at 15 percent and portfolio investments at 7 percent.
BDO Unibank Inc. reported a net income of P63.1 billion, a 4-percent increase from P60.6 billion last year, on sustained performance of its core business segments. Net interest income grew 8 percent as gross customer loans climbed 14 percent to P3.5 trillion. Deposits expanded 10 percent.
SM Prime Holdings Inc. reported a nine-month profit of P37.2 billion, up 10 percent from P33.9 billion a year earlier. This growth was led by higher contributions from the mall and convention center segments. Total revenues for SM Prime rose 4 percent to P103.4 billion from P99.8 billion. Mall revenues accounted for 59 percent of the total, increasing 7 percent to P61 billion.
SM Retail reported a net income of P12.2 billion, down from P12.8 billion in the previous period. However, retail revenues grew 5 percent to P318.1 billion from P301.8 billion.
“The earlier school opening in June this year pushed some spending from the third to the second quarter. Despite this shift, specialty retail spending grew in the health and beauty, fashion and kids categories while essential spending continued to prop up growth for food retail,” said DyBuncio.
Food retail revenues increased 7 percent, supported by a strong market base and store expansions. Department store revenues grew 3 percent in the fashion and kids segments. Specialty retail revenues rose 4 percent, driven by growth in the kids and home categories.
