Daily Tribune‘We continue to be cautiously optimistic for 2025, we believe the economy can grow at a very good pace, and the election this year will hopefully help in terms of consumer spending, and that will certainly help our overall business’
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SM flagship SMIC remains cautiously optimistic for 2025, with expectations that the election will help the SM group in terms of consumer spending, SMIC president and CEO Frederic DyBuncio said.
Photograph courtesy of SMIC
After a strong 2024, SM Investments Corp. (SMIC), the Sy family-led conglomerate, is charging into 2025 with optimism, expecting sustained growth across its businesses while doubling down on two high-potential sectors — renewable energy and logistics.
“We continue to be cautiously optimistic for 2025, we believe the economy can grow at a very good pace, and the election this year will hopefully help in terms of consumer spending, and that will certainly help our overall business,” SMIC president and CEO Frederic C. DyBuncio said in the company’s special report.
DyBuncio expects consumer spending to rise with the upcoming elections, giving the company more room to grow.
Beyond its core pillars of property, banking, and retail, SMIC said it will ramp up investments in logistics, recognizing its vital role in a growing economy. The company will also explore opportunities in domestic sea tourism, which DyBuncio sees as an untapped market with vast potential.
“In addition to logistics, obviously renewable energy is another area which we want to continue to grow and support the government’s efforts in basically increasing the renewable sector in the Philippines moving forward,” he added.
SMIC’s net income grew 7 percent to P82.6 billion in 2024 from P77 billion in 2023, driven by strong business performance. Revenues, on the other hand, rose 6 percent to P654.8 billion from P616.3 billion.
Banking remained the top income contributor at 49 percent, followed by property at 26 percent, retail at 18 percent, and portfolio investments at 7 percent.
“2024 was a very good year for the entire group. Despite all the macroeconomic environment, as well as inflationary pressures, all of our businesses continued to grow,” DyBuncio added.
