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    SM   PHY806761029

SM INVESTMENTS CORPORATION

(SM)
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9M 2021 Earnings Briefing Presentation

11/10/2021 | 06:37am EST

9M 2021

Analysts' and Investors' Briefing

November 10, 2021

SMIC 9M 2021 Consolidated Results

  • Resilient performance in all core businesses
  • Banks continued to drive earnings growth in Q3
  • Conservative gearing maintained

Earnings Mix

SM Investments

9M 2021

Chg

Revenues

289.4

5%

27%

Earnings

27.2

79%

Assets

1,288.1

5%

60%

13%

Net Debt:Total Equity

40 : 60

Figures in PHP B except percentages *Asset growth compares 9M20 21 vs FY20 20

Property

Retail

Banking

Note: Excludes SMIC Parent and other subsidiaries

Retail

  • 9% revenue growth in Non-Food
  • Cost efficiencies and increased supplier activities in Food
  • Net margin expansion
  • New channels represent 10.9% of Non-Food sales

SM Retail

Revenue

Chg

NI

Chg

Total Retail

204

.9

-1%

4.8

125%

SM Store

35.4

7%

-1.2

38%

Specialty

42.4

12%

1.9

78%

Food Group

138

.8

-5%

5.0

25%

Figures in PHP B except percentages

Banking - BDO

BDO

Banking

9M 2021

Chg

Net Income

32.4

95%

Net income returned to pre-pandemic

Net Interest Inc.

97.6

-2%

levels on resilient core business and

Other Income

44.5

13%

normalized provisions

Loans

2,310 .4

5%

CASA ratio at 85% on 14% growth in

Deposits

2,734.9

6%

CASA Deposits

NIM

4.1%

Asset quality remains stable and NPL

NPL

3.1%

coverage at 101%

CET 1

13.8%

Capital ratios continue to be strong

CAR

14.9%

Figures in PHP B except percentages

Banking - China Bank

CHIB

Banking

1H 2021

Chg

Net Income

11.2

35%

Net Interest Inc.

28.2

13%

Other Income

8.4

19%

Gross Loans

612.0

3%

Deposits

849.5

3%

NIM

4.2%

NPL

3.4%

CET 1

14.4%

CAR

15.3%

  • Net income growth driven by sustained core business growth with effective cost management
  • NPLs at 3.4% and credit buffers increased to provide NPL cover of 106%
  • Cost-to-incomeratio improved to 45%
  • Capital adequacy strengthened

Figures in PHP B except percentages

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

SM Investments Corporation published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 11:36:02 UTC.


ę Publicnow 2021
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Analyst Recommendations on SM INVESTMENTS CORPORATION
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Financials
Sales 2021 422 B 8 239 M 8 239 M
Net income 2021 33 847 M 661 M 661 M
Net Debt 2021 360 B 7 021 M 7 021 M
P/E ratio 2021 33,4x
Yield 2021 0,74%
Capitalization 1 144 B 22 338 M 22 338 M
EV / Sales 2021 3,56x
EV / Sales 2022 3,08x
Nbr of Employees 65 187
Free-Float 45,4%
Chart SM INVESTMENTS CORPORATION
Duration : Period :
SM Investments Corporation Technical Analysis Chart | SM | PHY806761029 | MarketScreener
Technical analysis trends SM INVESTMENTS CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 950,00 PHP
Average target price 1 054,20 PHP
Spread / Average Target 11,0%
EPS Revisions
Managers and Directors
Frederic Cuyegkeng DyBuncio President, CEO & Executive Director
Jose T. Sio Chairman, Chief Financial Officer & Executive VP
Wilson H. Go Senior Vice President-Information Technology
Wellington Palmero Senior VP, Chief Risk & Compliance Officer
Tomasa H. Lipana Independent Director
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