SM Prime Holdings, Inc. (SM Prime) recorded PHP33.9 billion consolidated net income in the first three quarters of 2024, 12% higher from PHP30.1 billion in the same period being reviewed in 2023. Consolidated revenues reached PHP99.8 billion, 8% higher than PHP92.6 billion. Consolidated operating income grew by 7% to PHP47.7 billion from PHP44.5 billion.

SM Prime recorded PHP11.8 billion consolidated net income in the third quarter of 2024, 11% higher than the same period in 2023. This is supported by PHP35.1 billion consolidated revenues, up by 7%. Consolidated operating income reached PHP16.6 billion.

"Our 30th anniversary is shaping up to be a milestone year, with results indicating we're on track to finish with yet another banner year," said SM Prime President Jeffrey Lim. "For the remainder of the year, we anticipate continued growth due to the recent opening of SM City J Mall and the upcoming holiday season," he added.

SM Prime's mall business, which accounts for 57% of the Company's consolidated revenues, reported PHP56.5 billion in total revenues in the first nine months of 2024, 8% higher than of the same period last year. Mall rental income grew by 8% to PHP48.5 billion, while cinemas, event ticket sales, and other revenues increased by 4% to PHP8.0 billion.

SM Prime's primary residential business reached PHP31.2 billion in revenues in the first three quarters of 2024, 9% higher than in the same period last year.

SM Prime's other key businesses, which include offices, hotels, and convention centers, has reached PHP11.0 billion in revenues in the first nine months of 2024, 11% higher than PHP9.9 billion in the first nine months of 2023.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.