Ayala unit posts 11% profit growth as economy reopens
AYALALAND Logistics Holdings Corp. (ALLHC) reported income and revenue growth in 2021 as the company continues to see demand for industrial lots and as the company increased its leasable area by 8%.
In a statement on Wednesday, ALLHC said its businesses “gained momentum” due to the country’s economic reopening. The company reported a net income of P780 million in 2021, an 11% increase from the P702.8 million the company logged in 2020.
“Despite the ongoing crisis, ALLHC showed commendable operations in 2021. Our performance remained sound, and we posted healthy growth, enabling us to carry on with our growth aspirations,” ALLHC President and Chief Executive Officer Maria Rowena M. Tomeldan said.
ALLHC registered a 7% topline growth last year to P3.99 billion from P7.32 billion in 2020. The company’s total warehouse gross leasable area (GLA) increased 8% to 224,000 square meters (sq.m.) from 207,000 sq.m.
The company’s industrial lot sales grew 62% to P2.05 billion from P1.27 billion year on year. Revenues from its warehouse leasing business grew 16% to P404 million from P348 million in 2020.
However, earnings from its commercial leasing segment declined to P419 million, 20% lower than the P526 million generated in 2020.
“We are optimistic that business activity will continue to improve this 2022,” Ms. Tomeldan said.
Earlier this month, ALLHC announced its acquisition of a 64,000 sq.m. ready-built facility in Sto. Tomas Batangas. ALogis Sto. Tomas increased its leasing portfolio to 288,000 sq.m.
ALLHC shares at the stock exchange went up 5.68% or 26 centavos to close at P4.84 apiece on Wednesday. — Keren Concepcion G. Valmonte