SM Investments Corp. (SMIC) said it has delivered compounded growth of 9.8 percent in the 20 years since its shares of stock were listed on the Philippine Stock Exchange (PSE).
At a ceremony on Monday, the PSE and SM Investments marked the company’s listing anniversary on March 24. SMIC’s listing date was March 22, which fell on a Saturday this year.
SM Investments sold shares at P250 apiece 20 years ago to raise P28.75 billion, the largest initial public offering to be completed at that time. It closed on Monday at P800.50 per share.
Based on an adjusted price of P123.17, after dividends paid over time were factored in, it has generated a 549 percent return as of Friday, March 21, the company said in a statement. Its compounded growth totaled 9.8 percent per share.
“Over the course of 20 years, SM’s assets grew by 900 percent, delivering a compounded annual growth of 12 percent,” the company said.
In his remarks during the anniversary ceremony, SM Investments President and Chief Executive Officer Frederic DyBuncio said the group’s “remarkable growth” is a testament to SM Investments’ unwavering commitment to the Filipino people and the vision of its founder, Henry Sy Sr.
“Over the past two decades, we’ve consistently created value, delivering steady returns to our investors while expanding opportunities for our people and communities. This legacy of growth and value creation continues to drive us forward,” DyBuncio added.
The next 20 years will see SM Investments continue to lead in retail, property, and banking, while expanding into new regions where growth is accelerating, especially in provincial areas.
Realty unit SM Prime Holdings Inc. has earmarked P100 billion this year for malls, residences and hotels.
The company is driven by expectations of sustained growth in consumer demand and corporate activity, DyBuncio said.
In 2024, SM Investments added 619 retail stores, two malls and 73 bank branches. More than 85 percent of its footprint covers the provinces with 87 malls, 4,470 retail stores and 2,441 bank branches as of end-2024.
“As SM expands, it continues to broaden access to different markets and enhance synergies across its businesses,” DyBuncio said.
“We will continue to expand opportunities for Filipinos, providing greater access to modern retail, banking and integrated property developments that will help foster community, innovation and sustainability for the next generation,” he added.
SM Investments announced a $1 billion buyback program, a first in its corporate history.
“Our buyback program is a clear signal of our confidence in the future of both SM and the Philippine market. We believe in our country’s potential and in the enduring value SM Investments will continue to create for its shareholders,” DyBuncio said.
The late Henry Sy Sr., SM Investments founder, believed that business growth and social progress must go hand in hand.
“Guided by this principle, and through the SM Foundation, the group granted 6,619 college scholarships, built 110 school buildings, trained 32,359 farmers, served 1,314,118 patients through medical missions, and improved 216 health and wellness centers to date,” DyBuncio said.
“As we look to the future, we remain focused on inclusivity and empowerment. Our brand promise, ‘We’ve got it all for you,’ has served us well for years. But as we move forward, we aim to build an SM for All, one that reaches and benefits every Filipino, ensuring that our growth is shared by all,” he added.
