ALLHC profits jump despite flat revenues

From Manila Bulletin

AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land Inc. (ALI), reported a 37 percent hike in consolidated net income to P339 million in the first six months of 2022 from P246.8 million in the same period last year.


In a disclosure to the Philippine Stock Exchange, the firm said it generated consolidated revenues of P1.6 billion in the first semester of this year almost the same as the P1.63 billion posted in the same period of 2021.


“The steady demand for industrial lots contributed P657 million in revenues, up 8 percent from P611 million versus last year,” ALLHC said.


Warehouse leasing segment grew its topline to P351 million, a 70 percent increase from P206 million, propelled by improved overall occupancy and the inclusion of 64,000 sqm of new gross leasable area from ALogis Sto. Tomas acquired early this year.


Cold storage revenues grew 371 percent to P57 million from P12 million the previous year with the addition of a second ALogis Artico Binan facility.


Commercial leasing revenues registered at P353 million, rising 62 percent from last year’s P218 million, due to improved customer foot traffic in Tutuban Center and South Park Center.


“The first half of the year showed encouraging results given the continuing reopening of the economy. Growth momentum for our bottom-line was sustained as operations remained stable,” said ALLHC Chief Operating Officer Patrick C. Avila.


He added that, “As we continue building up our asset portfolio and strengthening our leasing segments, we are optimistic about the company’s growth prospects in the industrial real estate space.”


ALLHC said it remains committed to transforming places into dynamic industrial and logistics centers, and diversifying its product line further.


In May, ALLHC entered into a framework agreement for data center development in the country with FLOW Digital Infrastructure.


Addressing the rising demand for digital infrastructure, the initial roll-out will target the delivery of a 4.51W-capacity facility.


Furthermore, ALLHC acquired 55 hectares of land in Padre Garcia, Batangas for its future industrial estate, the Batangas Technopark. With this acquisition, ALLHC is currently present in 6 key areas, on track with its target of 10 key locations nationwide by the year 2025. James A. Loyola