SM Investments Corporation (SM), the parent company of the SM Group, announced on August 12, 2026, that it earned PHP45.9 billion in the first six months of 2026. This represents an 8% increase compared to the PHP42.6 billion they made during the same period in 2025.

What Does This Mean in Simple Terms?

Think of SM Investments like a big piggy bank that owns several different businesses – malls, banks, retail stores, and other companies. When all these businesses make money, it goes into the main piggy bank. In the first half of 2026 (January to June), this piggy bank grew bigger by 8% compared to last year’s first half.

How Much Money Did They Bring In?

According to the company’s disclosure to the Philippine Stock Exchange, SM’s total revenues (the money coming in from all their businesses) reached PHP339.2 billion, up 6% from PHP319.2 billion in the same period last year.

Why Did They Make More Money?

Frederic C. DyBuncio, who is the President and CEO (the top boss) of SM Investments, explained that Filipino shoppers continued buying things at their stores and malls even though the economy faced some challenges. He said their different types of businesses helped them stay strong – like how having different toys means you still have something to play with even if one breaks.

Which Businesses Made the Most Money?

The company breaks down where their earnings came from:

• Banking (47%): Almost half of their profits came from their banks, making it their biggest money-maker
• Property (27%): More than a quarter came from their real estate and mall businesses
• Retail (15%): Their stores contributed about 15% of profits
• Other Investments (11%): Their other businesses made up the remaining 11%

How Did Their Stores Perform?

SM Retail, which operates their supermarkets, department stores, and specialty shops, earned PHP8.9 billion – that’s 5% more than last year. Their operating income (money left after paying for daily expenses) grew even faster at 12% to PHP14.0 billion, showing they managed their costs well despite higher prices for many things.

People kept buying everyday items they need at SM supermarkets and minimarts. In their specialty stores, shoppers bought more home items (especially things that provide power during outages), fashion products from stores like Kultura and Crocs, and items for kids including toys, pet supplies, and school materials.

What About Their Malls?

SM’s shopping malls also did well, with revenues growing 8% to PHP41.8 billion. More stores rented spaces in the malls, shoppers spent more at the stores inside, and the malls ran more efficiently.

The Banking Business

SM’s banks, which include BDO Unibank (the country’s largest bank) and China Banking Corporation, remained the biggest contributor to profits. The banks lent out more money (mid-teens growth in loans), which is how banks primarily make money.

Other Investment Highlights

SM’s other investments performed better, including:

• Atlas Consolidated Mining earned more because copper prices went up
• 2GO Group brought in more revenue as more people traveled and more packages needed shipping from online shopping
• Philippine Geothermal Production Company earned more from energy price adjustments

The Company’s Financial Position

According to the disclosure, SM Investments has total assets worth PHP1.82 trillion. The company maintains what it describes as a “conservative capital structure” with 31% debt and 69% equity – meaning they’re using mostly their own money rather than borrowed money to run their businesses.

Looking Ahead

Mr. DyBuncio said the company remains positive about the rest of 2026 while staying aware of economic uncertainties. He emphasized that having different types of businesses, being careful with spending, and having a strong financial position allows them to keep investing in the Philippines.

About SM Investments Corporation

SM Investments Corporation is one of the largest conglomerates in the Philippines. It owns and operates businesses in retail (stores and supermarkets), banking (BDO and China Bank), and property development (SM Prime Holdings, the largest property developer in the country). The company focuses on businesses that serve Filipino consumers and reinvests its earnings to grow over time.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.