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    A. Net Income

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    Aeron Paul Antonio
    SM Prime Holdings Inc. saw increases in key financial metrics from 2014 to 2015. Net income grew 14% to PHP20.9 billion in 2015. Revenue increased 8% to PHP71.5 billion. Total assets rose 10% to PHP433.8 billion. However, costs and expenses also rose 4% to PHP40.1 billion. The company maintained a high profit margin of 29.2% in 2015 and its current ratio improved to 2.05, indicating stronger liquidity.

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    A. Net Income

    Uploaded by

    Aeron Paul Antonio
    18 views8 pages
    SM Prime Holdings Inc. saw increases in key financial metrics from 2014 to 2015. Net income grew 14% to PHP20.9 billion in 2015. Revenue increased 8% to PHP71.5 billion. Total assets rose 10% to PHP433.8 billion. However, costs and expenses also rose 4% to PHP40.1 billion. The company maintained a high profit margin of 29.2% in 2015 and its current ratio improved to 2.05, indicating stronger liquidity.

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    SM Prime Holdings Inc. saw increases in key financial metrics from 2014 to 2015. Net income grew 14% to PHP20.9 billion in 2015. Revenue increased 8% to PHP71.5 billion. Total assets rose 10% to PHP433.8 billion. However, costs and expenses also rose 4% to PHP40.1 billion. The company maintained a high profit margin of 29.2% in 2015 and its current ratio improved to 2.05, indicating stronger liquidity.

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    Download as DOCX, PDF, TXT or read online from Scribd
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    18 views8 pages

    A. Net Income

    Uploaded by

    Aeron Paul Antonio
    SM Prime Holdings Inc. saw increases in key financial metrics from 2014 to 2015. Net income grew 14% to PHP20.9 billion in 2015. Revenue increased 8% to PHP71.5 billion. Total assets rose 10% to PHP433.8 billion. However, costs and expenses also rose 4% to PHP40.1 billion. The company maintained a high profit margin of 29.2% in 2015 and its current ratio improved to 2.05, indicating stronger liquidity.

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    a.

    Net income
    SM Prime net income grew by 13% to PHP18,390,000,000 in 2014
    SM Primes Core Net Income Surge by 14% to PHP20,892,000,000 in 2015

    b. Gross revenues
    revenue growth of 11% to PHP66,240,000,000 in 2014
    revenue growth of 8% to PHP71,511,000.000 in 2015

    c. Cost And Expenses


    SM Primes consolidated costs and expenses stood at PHP38,554,000,000 in 2014

    SM Primes consolidated costs and expenses stood at PHP40,072,000,000 in 2015

    d. Total assets
    SM Primes total assets stood at PHP388,840,000,000 in 2014
    SM Primes total assets stood at PHP433,828,000,000 in 2015

    e. Total liabilities
    SM Primes total liabilities stood at PHP 186,601,956,000 in 2014
    SM Primes total liabilities stood at PHP 217,985,592,00 in 2015

    f. Total equity
    SM Primes total equity stood at PHP 199,087,690,000 in 2014
    SM Primes total equity stood at PHP 212,488,822,000 in 2014

    g. Current ratio
    Total current assets/Total current liabilities

    SM Primes Current ratio stood at 1.41 in 2014


    SM Primes Current ratio stood at 2.05 in 2015

    h. Acid-test ratio

    i. Profit Margin
    Net income/revenue
    SM Prime profit margin in 2014 was 27.76%
    SM Prime profit margin in 2015 was 29.22% 83.16
    j. Earnings per Share
    66.0% (2014)
    98.2% (2015)

    k. P/E ratio
    30.09% (2015)

    l. Return on equity
    Net income attributable to equity holders of the parent/Total average equity
    attributable to equity holders of the parent

    2014 (10.0%)
    2015 (10.0%)

    m. Solvency ratio
    (Net income+depreciation)/(Short term liabilities + long term liabilities)

    n. Free cash flow


    1.10 (2015)

    SM PRIME HOLDINGS, INC. AND SUBSIDIARIES.


    CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Amounts in Thousands)

    Years Ended December 31

    2015 2014 2013

    CASH FLOWS FROM OPERATING ACTIVITIES


    Income before income tax and non-controlling P=34,910,83 =23,674,136 P=20,710,09
    interests 9 P 1
    Adjustments for:
    Loss (gain) on:
    Sale of available-for-sale investments
    (Note 11) (7,410,711) (2,743) (285,129)
    Unrealized foreign exchange 166,435 173,510 (29,994)
    Mark-to-market on investments
    held for trading (Note 7) 101,087 101,076 (93,996)
    Maturity of derivatives - net (40,691)
    Disposal of investments held for trading
    (Note 7) 693
    Fair value changes on derivatives - net (21,340) (62,717)
    Sale/retirement of investment properties
    and
    property and equipment (68,579)
    Depreciation and amortization (Note 22) 6,966,952 6,579,781 5,980,940
    Interest expense (Note 23) 3,379,104 4,099,499 3,686,603
    Interest and dividend income (Notes 7, 11 and
    23) (1,168,610) (731,884) (1,093,870)
    Equity in net earnings of associates and joint
    ventures
    (Note 15) (542,905) (304,434) (349,468)
    Restructuring costs (Note 5) 1,276,629
    Operating income before working capital changes 36,362,193 33,567,601 29,670,510
    Decrease (increase) in:
    Receivables (695,616) (3,559,562) (8,470,424)
    Condominium and residential units for sale 5,439,068 2,667,246 4,196,726
    Land and development (6,807,357) (13,906,967) (11,109,456)
    Prepaid expenses and other current assets (2,012,614) (910,972) 2,722,125
    Increase (decrease) in:
    Accounts payable and other current liabilities 3,652,508 (9,230,430) 9,456,186
    Tenants and customers deposits 1,486,421 3,019,113 1,192,142
    Cash generated from operations 37,424,603 11,646,029 27,657,809
    Income tax paid (5,486,465) (4,894,650) (4,116,235)
    Cash provided by operating activities 31,938,138 6,751,379 23,541,574
    CASH FLOWS FROM INVESTING ACTIVITIES
    Proceeds from sale of:
    Available-for-sale investments 7,466,528 4,258 397,977
    Investments held for trading 35,000 150,000 300,448
    Investment properties 99,991
    Interest received 647,572 418,076 692,313
    Dividends received 552,397 333,980 354,602
    Additions to:
    Investment properties (Note 14) (42,478,023) (35,510,709) (24,553,198)
    Property and equipment (Note 13) (235,913) (158,016) (440,890)
    Available-for-sale investments (357,071) (2,396)
    Investments held for trading (65,416)
    Proceeds from:
    Pretermination of short-term investments 887,900
    Early redemption of available-for-sale
    investments 1,000,000
    Investments in associates and joint venture and
    acquisition of
    a subsidiary - net of cash acquired
    (Notes 5 and 15) (15,443,151) (7,352,729)
    Decrease (increase) in other noncurrent assets
    (Note 16) (5,774,646) 4,908,379 (862,111)
    Net cash used in investing activities (55,230,236) (29,388,619) (30,365,993)

    Years Ended December 31


    2015 2014 2013
    CASH FLOWS FROM FINANCING ACTIVITIES
    =45,993,435 =48,121,250 P=76,494,06
    Availments of loans (Notes 17 and 19) P P 0
    Payments of:
    Long-term debt (Note 19) (11,288,366) (16,175,802) (20,812,576)
    Bank loans (Note 17) (11,100,000) (9,070,000) (33,210,179)
    Dividends (Note 20) (6,442,237) (5,586,728) (5,020,653)
    Interest (3,159,806) (4,183,961) (4,207,108)
    Restructuring costs (Note 5) (607,172)
    Proceeds from:
    Maturity of derivatives 12,468
    Reissuance of treasury shares (Note 20) 17,645,687
    Net cash provided by financing activities 14,015,494 30,750,446 12,636,372
    EFFECT OF EXCHANGE RATE CHANGES ON
    CASH AND CASH EQUIVALENTS (98,694) (9,506) 30,187
    NET INCREASE (DECREASE) IN CASH AND CASH
    EQUIVALENTS (9,375,298) 8,103,700 5,842,140
    CASH AND CASH EQUIVALENTS
    AT BEGINNING OF YEAR 35,245,206 27,141,506 21,299,366
    CASH AND CASH EQUIVALENTS
    P=25,869,90 =35,245,206 =27,141,506
    AT END OF YEAR 8 P P
    o. Quality of Income
    -Years Ended December 31

    2015 2014 2013

    CASH FLOWS FROM FINANCING ACTIVITIES


    =45,993,435 =48,121,250 P=76,494,06
    Availments of loans (Notes 17 and 19) P P 0

    Payments of:
    Long-term debt (Note 19) (11,288,366) (16,175,802) (20,812,576)
    Bank loans (Note 17) (11,100,000) (9,070,000) (33,210,179)
    Dividends (Note 20) (6,442,237) (5,586,728) (5,020,653)
    Interest (3,159,806) (4,183,961) (4,207,108)

    Restructuring costs (Note 5) (607,172)

    Proceeds from:

    Maturity of derivatives 12,468

    Reissuance of treasury shares (Note 20) 17,645,687


    Net cash provided by financing activities 14,015,494 30,750,446 12,636,372

    EFFECT OF EXCHANGE RATE CHANGES ON


    CASH AND CASH EQUIVALENTS (98,694) (9,506) 30,187

    NET INCREASE (DECREASE) IN CASH AND CASH


    EQUIVALENTS (9,375,298) 8,103,700 5,842,140

    CASH AND CASH EQUIVALENTS


    AT BEGINNING OF YEAR 35,245,206 27,141,506 21,299,366

    CASH AND CASH EQUIVALENTS


    P=25,869,90 =35,245,206 =27,141,506
    AT END OF YEAR 8 P P
    a. Quality of income

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