Connect with us

Hi, what are you looking for?


Ayala Land net income up 38% as sales improve

AYALA LAND, Inc. (ALI) reported a net income attributable worth P2.55 billion for the third quarter, up by 38% year on year from P1.85 billion, as its sales reflected “sustained demand” despite renewed quarantined restrictions.

In a disclosure to the stock exchange on Wednesday, the company said its sales reservations hit P21.8 billion in the July-to-September period. Its consolidated revenues grew by 7% to P23.65 billion from P22.12 billion a year ago.

For the first nine months of the year, ALI’s attributable net income grew by 35% to P8.59 billion from P6.37 billion, while consolidated revenues went up by 15% to P72.6 billion from P63.32 billion.

“Our business recovery was sustained despite the reimposition of stricter quarantine measures last August,” Bernard Vincent O. Dy, president and chief executive officer of ALI, said in a statement.

“We remain positive that with the reopening of the economy, business activity will gain momentum in the fourth quarter, especially for segments like our malls, hotels and resorts, which broadly rely on increased mobility,” he added.

The company’s property development revenues rose 27% to P51.5 billion in the period. Meanwhile, sales reservations for the first nine months went up by 15% to P70.1 billion, which was attributed to the company’s “strong sales performance” earlier in the year.

Office leasing revenues inched up by 5% to P7.47 billion from P7.12 billion. ALI said the growth was driven by the sustained operations of business process outsourcing and company headquarters.

Meanwhile, commercial leasing revenues for the period were at P14.23 billion, 18% lower than the P17.32 billion seen in the same period last year as quarantine restrictions were reimposed in August.

While the occupancy rate at Ayala Land’s malls stood at 80% to 85%, revenues from its shopping centers went down by 35% to P4.93 billion from P7.61 billion year on year due to limited operations, lower foot traffic, and the rental discounts offered to tenants.

Revenues from its hotels and resorts also declined by 29% to P1.85 billion from P2.6 billion due to renewed pandemic restrictions. Ayala Land said the average occupancy rate for its “stable hotels” was at 50% and 51%, while its “stable resorts” average occupancy rate stood at 12% and 13%.

ALI launched a total of 18 projects in the first nine months worth P59.1 billion, higher than the launches seen in full-year 2020 collectively worth P10.6 billion. The company said it “responded to stronger demand in the residential market.”

In the third quarter alone, Ayala Land launched projects collectively worth P13 billion in despite quarantine restrictions.

Under Ayala Land Premier, the company launched Ayala Greenfield Estates 4C Tranche 1 in Laguna and Lanewood Hills Phase 2 in Cavite. Meanwhile, it also opened Avida’s Centralis Towers in Pasay City and Amaia’s Steps Pasig Clara.

The company’s capital expenditures for the first nine months amounted to P44.7 billion, over half or 54% of which were spent on residential projects, 16% for estate development, 14% for commercial projects, and 13% were allocated for land acquisition.

Ayala Land has a land bank with over 12,000 hectares of property located across the country.

The company earlier listed its new P3-billion fixed-rate bonds at the Philippine Dealing and Exchange Corp. The issuance is meant to bring down the cost of its debt and lengthen maturities.

Ayala Land is also looking to achieve carbon neutrality by yearend through using clean energy sources, offsetting greenhouse gas emissions via carbon forests, and projects promoting the protection of forests, it said.

Shares of Ayala Land went up by 3.72% or P1.30 to close at P36.25 each on Wednesday. — Keren Concepcion G. Valmonte

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



BW FILE PHOTO THE PESO rebounded versus the dollar on Thursday, returning to the P54 level, on lower global oil prices and as the...


REUTERS STOCKS declined further on Thursday as the Bangko Sentral ng Pilipinas (BSP) said headline inflation could have reached an almost four-year high in...


FERDINAND “Bongbong” Marcos, Jr. took his oath of office as the 17th president of the Philippines before Chief Justice Alexander Gesmundo at the National...


PHILIPPINE STAR/ WALTER BOLLOZOS By Arjay L. Balinbin, Senior Reporter A TRANSPORT group said on Thursday that the increase in the minimum fare for...


PHILIPPINE STAR FILE PHOTO FORMER Camariñes Sur Rep. Rolando “Nonoy” G. Andaya, Jr. passed away on June 30, his family announced. He was 53....


PHILIPPINE STAR/ WALTER BOLLOZOS OUTGOING Presidential Adviser for Entrepreneurship Jose Ma. “Joey” A. Concepcion III is recommending a halt to the government’s procurement of...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.