Sm Investments Corporation · PSE:SM
Sm Investments — 6M 2026 Earnings Presentation
16 slides from Sm Investments's earnings presentation, Aug 12, 2026
Slide 1: Analyst & Investor Briefing
Analyst & Investor Briefing August 12, 2026 20 Years of Driving Progress
Slide 2: SMIC 6M 2026 Consolidated Results
SMIC 6M 2026 Consolidated Results ▪ Good Q2 results, especially in Retail, Malls and Portfolio Investments ▪ Continued to see healthy consumer spending despite recent economic shocks ▪ Remain positive about 2H while mindful of economic uncertainties ▪ Gearing ratio remained conservative Banking Port
Slide 3: SM Retail Consolidated
SMRETAIL Consolidated Financials 6M 2026 6M 2025 Chg Revenue 223.6 211.8 5.6% ▪ Retail performance remained healthy SSSG 2.9% 5.4% through the first half EBIT 14.0 12.5 11.9% ▪ SM Store growth driven by Fashion, EBIT Margin 6.5% 6.1% Net Income 8.9 8.4 5.3% Kids, and Home Figures in ₱ (B) except per
Slide 4: SM Retail – The SM Store
SMRETAIL – The SMSTORE Financials 6M 2026 6M 2025 Chg Revenue 54.5 52.8 3.1% SSSG 1.2% 9.5% EBIT 2.3 2.0 12.9% ▪ Growth driven by Fashion, Kids, and EBIT Margin 4.5% 4.1% Home Net Income 1.7 1.6 8.5% ▪ Margin expansion driven by more Figures in ₱ (B) except percentages effective promotions and disco
Slide 5: SM Retail – Food Group
SMRETAIL – Food Group Financials 6M 2026 6M 2025 Chg Revenue 134.9 127.1 6.2% ▪ Margins maintained SSSG 3.3% 4.7% ▪ Alfamart opened net 78 stores, EBIT 7.8 7.1 10.5% operating 2,387; SSSG expanded EBIT Margin 5.9% 5.7% Net Income 5.2 4.9 5.8% from -0.02% to 3.9% Figures in ₱ (B) except percentages A
Slide 6: SM Retail – Specialty
SMRETAIL – Specialty Financials 6M 2026 6M 2025 Chg Specialty Retail Category Sales Growth Revenue 48.6 45.9 6.0% 6M 2026 vs 6M 2025 SSSG 3.9% 3.0% 12.0% 10.6% EBIT 4.1 3.5 16.1% EBIT Margin 8.9% 8.2% Net Income 2.9 2.8 4.8% 5.6% 5.7% Figures in ₱ (B) except percentages Profile 6M 2026 FY 2025 Chg S
Slide 7: Portfolio Investments Financials
Portfolio Investments Financials (As of 6M 2026) Revenue 2.5 2.7 7.6 10.8 13.0 ₱ (B) Revenue Change 6% -0% 13% 12% 64% (%) Net Income 1.0 1.4 0.3 1.1 4.6 ₱ (B) Net Income Change 5% 3% 2% 52% 807% (%) All businesses Ongoing WESM resumed Timing of revenue High volumes due to positively pit redevelopme
Slide 8: Carmen Copper Corporation Financial Highlights
Integrated resource company in the Philippines that Financial Highlights owns 100% of Carmen Copper Corporation Income Statement Balance Sheet ₱ (B) 6M 26 6M 25 Chg ₱ (B) 6M 26 6M 25 Chg Operates the Toledo copper mine in Cebu province Revenue 13.0 7.9 64% Assets 74.1 67 11% with 1,676 hectares of c
Slide 9: How We Create Value for Investors
How We Create Value for Investors Parent: ✓ Delivers returns via dividends and buybacks SMINVESTMENTS ✓ Enabled by Parent cashflow engines Near Term ✓ Captive cashflow from unlisted subsidiaries (SM Retail, Portfolio) + ✓ Create long-term asset and earnings growth Operating ✓ Enabled by reinvestment
Slide 10: 6M 2026 Results Key Messages
6M 2026 Results Key Messages ▪ Q2 results remained healthy with consumer spending remaining resilient in our stores ▪ Consolidated revenue growth of 6%, net income growth of 8% ▪ Group earnings continue to be diverse which allows us to weather external volatility ▪ Retail net income was up 5.3% YoY
Slide 11: Q&A
Q&A 10
Slide 12: Annex
Annex 11
Slide 13: Our reliable cash engine, driven by dividends
Our reliable cash engine, driven by dividends, allows us to return cash to shareholders, keep debt low and still invest in growth Major Uses 2025 Parent Cash Flow Parent ₱13.9B Operations* Major Sources ₱16.0B Dividends Dividends ₱38.6B ₱49.9B ₱5.1B Share Buybacks Royalties ₱8.2B ₱0.2B CAPEX Up 21%
Slide 14: Banking – BDO
Banking – BDO ▪ Continued strength of core businesses BDO 6M 2026 Chg segments Net Income 40.7 0% ▪ PPOP up 12%, supported by robust Net Interest Inc. 108.5 11% lending activity and disciplined cost Non-Interest Inc. 39.4 4% management Gross Cust. Loans 3,931.5 15% ▪ Loans up 15% on growth across al
Slide 15: Banking – China Bank
Banking – China Bank China Bank 6M 2026 Chg ▪ Record net income on strong core business Net Income 14.5 11% growth Net Interest Inc. 39.7 14% ▪ Loans grew 17% on strong demand from Non-Interest Inc. -2.6 -165% both corporate and consumer segments Gross Cust. Loans 1,132.4 17% ▪ CIR remained efficien
Slide 16: Logistics Solutions Provider Financial Highlights
Financial Highlights Largest end-to-end Logistics Solutions Income Statement Balance Sheet Provider in the Country ₱ (B) 6M 26 6M 25 Chg ₱ (B) 6M 26 FY25 Chg Revenue 10.9 9.7 12% Assets 16.9 16.6 2% EBIT 1.7 1.2 37% Liabilities 12.0 12.8 -6% Largest, most modern ROPAX Operator with Earnings 1.2 0.8