(This speech was delivered during the annual stockholder’s meeting of Sta. Lucia Land Inc. held last month.)
“(The year) 2016’s economic performance once again continued its upward trajectory.
It was an important year for your company as we continue to lay the foundation for a stronger and more sustainable long term growth. This was evident in our financial performance as we registered P3.3 billion in gross revenues resulting in a net income of P730 million—an 8 percent increase compared to that of 2015.
We have managed our balance sheet well, as total assets increased by 13 percent, from P21.4 billion to P24.1 billion with a manageable increase in our leverage position.
As we celebrate our 10th year as a publicly listed company, we are ever mindful of the opportunities presented in our industry and in our economy as well. As we participate in the government’s plan to invest heavily in infrastructure, we will be at the forefront of this milestone as our projects are all over the country, scattered in numerous regions whose improvement in connectivity can only enhance its present and future values.
As such, we have complemented our existing asset base by aggressively increasing our strategic landbank through the acquisition of 97 properties totaling 4.18 million sqms.
We have also likewise entered into 39 joint venture agreements totaling 4.63 million sqms. This aggregates to 8.81 million square meters in developable properties in the following areas: Pasig City, Bulacan, Cavite, Laguna, Batangas, Rizal, Palawan, Iloilo, Cebu, Zamboanga, General Santos City, and Davao.
Recurring revenue is also a subsector where we have set as another growth driver.
Our new Sta. Lucia Business Center has begun construction and is expected to generate lease income in the office and retail segments. It will also connect to the ongoing LRT 2 and to the Sta. Lucia Mall.
As a testament to our commitment to excellence, Sta. Lucia Land Inc. was given two international awards (namely:) a finalist in the Asia CEO Awards 2016 and Asia-Pacific Bronze Stevie Award 2016 for Innovative Management in Consumer Product & Service Industries.
Also, Credit Rating and Investors Services Philippines, Inc (CRISP) has re-affirmed Sta. Lucia Land Inc’s issuer rating to AA plus. This was based on the following factors: stable financial performance, sxpanding landbank, and on-going brand building activities.
Once again we would like to thank our board and our management team who are committed to provide quality real estate developments to our clients and to our stakeholders.”
Exequiel Robles is the president of Sta. Lucia Land Inc.