SM Investments Corp. remains confident in its long-term growth trajectory, driven by a resilient consumption-led economy, synergies across its business segments, and strong consumer fundamentals.
In a recent report on Philippine conglomerates, equity research firm CLSA highlighted that SM’s retail segment is poised to benefit from minimum wage increases, sustained remittances and consumer spending resilience despite macroeconomic uncertainties.
CONTINUED GROWTH With a strong financial foundation, strategic business integration and a focus on sustainable growth, SM Investments remains committed to driving economic progress and delivering long-term value. IMAGE FROM SM
CLSA noted that wage adjustments and higher remittances are expected to support household spending, particularly in essential categories.
While consumer spending patterns may evolve, CLSA maintains that overall consumption will remain a key economic driver.
SM’s minimart chain Alfamart is expected to continue its expansion this year. From its first store in Trece Martires, Cavite, in 2014, Alfamart has grown its footprint to 2,100 in the last 10 years, mainly in Luzon and Metro Manila.
Beyond retail, CLSA underscored SM Investments’ synergies across its portfolio, highlighting SM Prime’s record earnings and expanding mall network as well as BDO’s financial services as key growth drivers.
In 2024, SM Prime Holdings opened two malls in North Caloocan and J Mall in Mandaue City, Cebu.
Currently, SM Prime has 87 malls in the Philippines, with expansion geared toward the provinces to cover most of Northern Luzon, Visayas and the progressive cities in Mindanao.
