November 14, 2019
November 14, 2019 – AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc., posted a 64% increase in revenues to P 3.2 billion for the first nine months of 2019, resulting to a 164% growth in net income to P 500 million from last year’s P 189 million.
In the third quarter alone, revenues slightly declined in 2019 to P 949 million from P 1 billion in 2018. Meanwhile, ALLHC registered a consolidated net income of P 154 million, up 29% versus last year’s income for the same three-month period. Income growth was mainly attributable to the gain on sale of shares held by a subsidiary.
Leasing revenues from warehouses and commercial centers registered at P 755 million for the 9-month period, growing by 31% from last year’s post of P 579 million. Concurrently, industrial lot sales grew to P 560 million, almost double from P 283 million the previous year.
Year-to-date September 2019 capital expenditures for land acquisition, equity purchase, and developments reached P 3 billion, supporting the company’s thrust for geographical expansion.
“ALLHC’s sustained positive financial results for the first nine months continue to show that we are in the right direction as we diversify and work towards a balanced portfolio. We aim to close the year 2019 strong and to start 2020 with the same optimism,” said ALLHC President Maria Rowena M. Tomeldan.
Aligned with the company’s vision of being the leading industrial parks and real estate logistics developer and operator in the country, ALLHC will break ground for the expansion of its warehouse facilities in Alviera Industrial Park in Porac, Pampanga by November 2019. This expansion is expected to generate additional 12,000 square meters of gross leasable area to the company.
ALLHC is a subsidiary of Ayala Land, Inc., the country’s largest developer of sustainable estates offering a diverse mix of properties such as residential, commercial, and leisure developments, that support local economic growth and nation-building.