SM Prime Holdings (SMPH) investor relations material

Executive summary

• 9M 2026 revenue was P103.1B, flat YoY, while net income fell 5% to P35.4B amid higher operating costs, inflation and weaker consumption.

• Recurring businesses remained the major revenue stream; malls led 9M revenue with P63.7B, or 62% of the total.

Financial highlights

• 3Q 2026 revenue declined 11% YoY to P31.4B and EBIT declined 10% to P15.7B; 9M revenue was flat at P103.1B and EBIT was P51.8B.

• Net income was P10.9B in 3Q, down 15% YoY, and P35.4B for 9M, down 5%.

• EBITDA margin was 62% in both 3Q and 9M, down 2pp and 1pp YoY, respectively; capex fell 38% to P13.7B in 3Q and 25% to P44.4B for 9M.

Outlook and guidance

• Malls: strengthen the portfolio with market-first brands and experiential retail, while investing in energy efficiency and renewable energy.

• Residences: prioritize ready-for-occupancy unit sales and completion of projects under construction; begin the first phase of Susana Heights redevelopment in Muntinlupa.

• Hotels and convention centers: partner with Shangri-La on Shangri-La Santelmo Cove at Hamilo Coast; launch SMX Seaside Cebu and new trade halls in four cities.

• Offices: develop a Grade A high-rise corporate office tower in Nuvali, described as Southern Luzon's first.