ALI nets P5.62B in first half, up 30%

AFP FILE PHOTO

MANILA, Philippines–Local property giant Ayala Land Inc. boosted its six-month net profit by 30 percent year-on-year to P5.62 billion as the company unlocked higher earnings from property development, commercial leasing and construction businesses.

ALI booked P36.63 billion in consolidated revenues for the first semester, 36 percent year-on-year, bulk of which came from real estate and hotel revenues which jumped by 38 percent to P35.81 billion from a year ago.

“The sustained earnings growth is now supported significantly by newly launched growth centers in Arca South (FTI), Vertis North, and Circuit. This is in addition to the continuing growth of our products in our traditional centers of Makati, Bonifacio Global City, NUVALI and Cebu Park District,” said ALI president and CEO Antonino T. Aquino.

“Our products are well accepted due to their presence in our integrated, mixed-use developments. These developments are further enhanced by our new products and joint ventures that will enable us to have hotels, department stores, supermarkets, convenience stores, and medical facilities to complete our master-planned communities,” he said.

Revenues from the residential segment contributed P18.4 billion, 28 percent higher than the same period last year, which ALI attributed to strong bookings across all residential brands. These brands performed in the first six months versus their year-ago levels as follows:

• Ayala Land Premier’s revenues grew by 25 percent to P6.68 billion, driven by bookings from The Suites Bonifacio Global City (BGC), Garden Towers and Park Terraces in Makati City.
• Alveo’s revenues went up by 20 percent to P4.44 billion with higher contribution from Mirala, Escala, Kroma and HSS Corporate Plaza together with additional bookings from Lerato;
• Avida grew revenues by 45 percent to P5.24 billion; and,
• Amaia’s revenues rose by 58 percent to P975 million.

As an indicator of future earnings growth from its residential business, ALI’s sales take-up value for the first six months reached P43.79 billion, equivalent to an average monthly sales take-up of P7.3 billion – an all-time high.

ALI’s four residential brands launched a total of 10,130 units in the first six months of with a total sales value of P30.64 billion.

Meanwhile, revenues from the sale of commercial and industrial lots increased by 307 percent to P5.18 billion mainly attributed to the sale of commercial lots in the Arca South property (Food Terminal Inc).

On commercial leasing, revenues from the shopping center leasing rose by 10 percent to P5.04 billion while revenues from office leasing increased by 13 percent to P1.6 billion.

ALI’s hotels and resorts segment grew revenues in the first half by 46 percent to P1.86 billion. This segment currently operates 1,294 internationally branded hotel rooms in Hotel InterContinental Manila, Cebu City Marriott, Fairmont Hotel and Raffles Makati and Holiday Inn & Suites Makati, 192 island resort rooms in Lagen, Miniloc, Apulit and Pangulasian Island in the province of Palawan and 515 Seda Hotel rooms between Bonifacio Global City, Centrio Cagayan de Oro and Abreeza Davao.