
With the consumption-driven economy maintaining momentum, SM Investments Corp. (SMIC) wants to keep its market leadership by expanding its footprint in retail, property and financial services.
The Sy-led conglomerate remains optimistic about the country’s economic outlook, citing strong consumer demand and a stable macroeconomic environment as key growth drivers.
Erwin Pato, executive vice president for treasury, finance and planning, said the company’s confidence is reflected in its P60-billion share buyback program, the largest in Philippine corporate history.
SM’s decision to repurchase $1 billion worth of shares underscores its belief in its long-term value and the resilience of the country’s economy.
“We’re having this buyback because we believe in our company and its growth potential,” Pato said in a recent public interview.
He noted that SM Investments’ diversified businesses in retail, property, and financial services position it to benefit from the country’s consumption-driven economy. “We believe that growth in the Philippines will continue to be consumption-driven,” he said.
The company’s financial results support this outlook. In 2024, SM Investments posted a seven percent increase in consolidated net income to P82.6 billion from P77.0 billion in 2023.
SM Retail Inc., its retail arm, also saw earnings rise to P20.9 billion from P19.9 billion the previous year.