SM Prime : 2022 3Q Financial Statements

C O V E R S H E E T

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Form Type

Department requiring the report

Secondary License Type, If Applicable

C O M P A N Y I N F O R M A T I O N

Company's Email Address

Company's Telephone Number

Mobile Number

8831-1000

Annual Meeting

Fiscal Year

No. of Stockholders

Month/Day

Month/Day

2,354

September 30

CONTACT PERSON INFORMATION

The designated contact person MUSTbe an Officer of the Corporation

Name of Contact Person

Email Address

Telephone Number/s

Mobile Number

Mr. John Nai Peng C. Ong

8831-1000

CONTACT PERSON's ADDRESS

10th Floor Mall of Asia Arena Annex Building, Coral Way cor. J.W. Diokno Blvd., Mall of Asia

Complex, Brgy. 76, Zone 10, CBP-1A, Pasay City, Philippines

NOTE 1 : In case of death, resignation or cessation of office of the officer designated as contact person, such incident shall be reported to the Commission within thirty (30) calendar days from the occurrence thereof with information and complete contact details of the new contact person designated.

2 : All Boxes must be properly and completely filled-up. Failure to do so shall cause the delay in updating the corporation's records with the Commission and/or non-receipt of Notice of Deficiencies. Further, non-receipt of Notice of Deficiencies shall not excuse the corporation from liability for its deficiencies.

SM PRIME HOLDINGS, INC. AND SUBSIDIARIES

INTERIM CONSOLIDATED BALANCE SHEET

September 30, 2022

(With Comparative Audited Figures as at December 31, 2021)

(Amounts in Thousands)

	September 30,	December 31,
	2022	2021
	(Unaudited)	(Audited)
ASSETS
Current Assets
Cash and cash equivalents (Notes 5, 17, 21 and 22)	P=59,661,192	P=39,775,852
Receivables and contract assets (Notes 6, 17, 21 and 22)	82,162,185	73,019,966
Real estate inventories (Note 7)	69,763,192	56,575,047
Equity instruments at fair value through other comprehensive income
(FVOCI) (Notes 8, 17, 21 and 22)	539,780	547,041
Derivative assets (Notes 21 and 22)	1,710,350	753,506
Prepaid expenses and other current assets (Notes 9, 17 and 22)	25,079,521	24,993,357
Total Current Assets	238,916,220	195,664,769
Noncurrent Assets
Equity instruments at FVOCI - net of current portion
(Notes 8, 17, 21 and 22)	14,887,043	17,400,372
Investment properties - net (Notes 10 and 22)	483,559,042	467,391,988
Investments in associates and joint ventures (Note 11)	30,487,463	29,187,435
Deferred tax assets - net (Note 23)	789,898	734,975
Derivative assets - net of current portion (Notes 21 and 22)	8,716,026	1,043,670
Other noncurrent assets - net (Notes 12, 17, 21 and 22)	96,413,130	92,980,071
Total Noncurrent Assets	634,852,602	608,738,511
	P=873,768,822	=804,403,280P
LIABILITIES AND EQUITY
Current Liabilities
Loans payable (Notes 13, 17, 21 and 22)	P=8,512,838	=6,487,427P
Accounts payable and other current liabilities (Notes 14, 17, 21 and 22)	83,557,991	91,377,717
Current portion of long-term debt (Notes 15, 17, 21 and 22)	65,446,248	42,261,601
Derivative liabilities (Notes 21 and 22)	638,050	335,367
Income tax payable	606,312	563,387
Total Current Liabilities	158,761,439	141,025,499
Noncurrent Liabilities
Long-term debt - net of current portion (Notes 15, 17, 21 and 22)	295,629,894	264,969,216
Tenants' and customers' deposits - net of current portion
(Notes 14, 21 and 22)	23,513,543	21,458,281
Liability for purchased land - net of current portion (Notes 14, 21 and 22)	1,502,295	2,540,050
Deferred tax liabilities - net (Note 23)	10,238,261	9,688,555
Derivative liabilities - net of current portion (Notes 21 and 22)	72,497	1,748,186
Other noncurrent liabilities (Notes 14, 21 and 22)	30,104,974	28,612,720
Total Noncurrent Liabilities	361,061,464	329,017,008
Total Liabilities (Carried Forward)	519,822,903	470,042,507

	September 30,	December 31,
	2022	2021
	(Unaudited)	(Audited)
Total Liabilities (Brought Forward)	P=519,822,903	P=470,042,507
Equity Attributable to Equity Holders of the Parent
Capital stock (Notes 16 and 24)	33,166,300	33,166,300
Additional paid-in capital - net	38,079,863	38,056,016
Cumulative translation adjustment	2,694,224	3,083,184
Net fair value changes of equity instruments at FVOCI (Note 8)	12,187,778	14,708,368
Net fair value changes on cash flow hedges (Note 22)	2,523,010	(432,883)
Remeasurement loss on defined benefit obligation - net	(548,643)	(548,643)
Retained earnings (Note 16):
Appropriated	42,200,000	42,200,000
Unappropriated	224,884,061	205,671,557
Treasury stock (Notes 16 and 24)	(2,984,695)	(2,984,695)
Total Equity Attributable to Equity Holders of the Parent	352,201,898	332,919,204
Non-controlling Interests	1,744,021	1,441,569
Total Equity	353,945,919	334,360,773
	P=873,768,822	P=804,403,280

See accompanying Notes to Interim Condensed Consolidated Financial Statements.

SM PRIME HOLDINGS, INC. AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF INCOME

(Amounts in Thousands, Except Per Share Data)

	Three-Month Periods	Nine-Month Periods
	Ended September 30	Ended September 30
	2022	2021	2022	2021
	(Unaudited)	(Unaudited)
REVENUES
Rent (Note 17)	P=15,346,771	=7,856,174P	P=40,729,783	=23,785,215P
Real estate sales	9,810,035	7,400,731	27,518,237	31,493,527
Others (Notes 17 and 18)	2,171,956	491,968	5,425,092	1,558,241
	27,328,762	15,748,873	73,673,112	56,836,983
COSTS AND EXPENSES (Note 19)	14,052,050	10,246,682	39,039,266	35,262,538
INCOME FROM OPERATIONS	13,276,712	5,502,191	34,633,846	21,574,445
OTHER INCOME (CHARGES)
Interest expense (Notes 6, 13, 15, 17 and 20)	(3,253,755)	(2,503,083)	(7,074,809)	(6,089,802)
Interest and dividend income (Notes 5, 6, 8, 9, 12, 17
and 20)	457,162	245,972	1,165,254	685,112
Others - net (Notes 11, 14 and 15)	(384,572)	1,615,504	(425,889)	3,123,705
	(3,181,165)	(641,607)	(6,335,444)	(2,280,985)
INCOME BEFORE INCOME TAX	10,095,547	4,860,584	28,298,402	19,293,460
PROVISION FOR INCOME TAX - NET (Note 23)	2,035,112	878,463	5,864,523	3,622,242
NET INCOME	P=8,060,435	=3,982,121P	P=22,433,879	=15,671,218P
Attributable to
Equity holders of the Parent (Notes 16 and 24)	P=7,903,652	=3,979,167P	P=22,011,576	=15,624,082P
Non-controlling interests (Note 16)	156,783	2,954	422,303	47,136
	P=8,060,435	=3,982,121P	P=22,433,879	=15,671,218P
Basic/Diluted earnings per share (Note 24)	P=0.274	=0P .138	P=0.763	=0P	.541
Dividend per share (Note 16)	-	-	P=0.097	=0P	.082

See accompanying Notes to Interim Condensed Consolidated Financial Statements.

SM PRIME HOLDINGS, INC. AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in Thousands)

	Three-Month Periods	Nine-Month Periods
	Ended September 30	Ended September 30
	2022	2021	2022	2021
	(Unaudited)	(Unaudited)
NET INCOME	P=8,060,435	P=3,982,121	P=22,433,879	P=15,671,218
OTHER COMPREHENSIVE INCOME (LOSS)
Items that will not be reclassified to profit or loss in
subsequent periods:
Unrealized gain (loss) due to changes in fair value of
FVOCI securities (Note 8)	207,709	(120,401)	(2,520,590)	236,481
Remeasurement loss on defined benefit obligation	-	-	-	(39,228)
	207,709	(120,401)	(2,520,590)	197,253
Items that may be reclassified to profit or loss in
subsequent periods:
Net fair value changes on cash flow hedges	1,027,034	74,325	2,955,893	319,290
Cumulative translation adjustment	165,308	773,832	(388,960)	1,243,105
	1,400,051	727,756	46,343	1,759,648
TOTAL COMPREHENSIVE INCOME	P=9,460,486	=4,709,877P	P=22,480,222	=17,430,866P
Attributable to
Equity holders of the Parent (Note 16)	P=9,303,703	=4,706,923P	P=22,057,919	=17,384,003P
Non-controlling interests (Note 16)	156,783	2,954	422,303	46,863
	P=9,460,486	=4,709,877P	P=22,480,222	=17,430,866P

See accompanying Notes to Interim Condensed Consolidated Financial Statements.