ALLHC income up by 19% in 1Q22; expands warehouse leasable area by 29% to 288K sqm

AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land Inc. (ALI) subsidiary, posted a consolidated revenue of P864 million and net income of P197 million in the first quarter of 2022.

The industrial lot sales reached P316 million, down by 18% versus last year due to unbooked reserved lots expected to be recognized by the second quarter. Warehouse leasing revenues rose by 54% to P191 million from P123 million given improved occupancy and increased leased areas. Cold storage ended the quarter with P28 million in revenues. Commercial leasing is gradually recovering with retail stores reopening and an increase in total customer foot traffic by 32% versus the same period last year.

 

The company closed the first quarter of the year with a strong balance sheet with a net gearing of 0.63:1.

 

In line with its commitment to build national footprint, ALLHC continues to expand in key areas across the country. In February 2022, ALLHC acquired an existing ready-built facility in Sto. Tomas, Batangas, adding 64,000 sqm of leasable warehouse space to the ALogis portfolio. With this acquisition, ALLHC presently has 288,000 sqm warehouse gross leasable area (GLA) across 6 locations, 58% of our target of 500,000 sqm GLA by 2025.

 

ALLHC will diversify its product line further with additional cold storage facilities and other business platforms. ALLHC is on track to double its cold storage capacity to 15,000 pallet positions by the year 2023.

 

“Our growth plans are geared to enable ALLHC to seize opportunities in the new economy. With the competitive advantage from our solid portfolio of diversified product offerings, and our optimistic view on the economy’s reopening, we look forward to enhancing our business performance in 2022,” said ALLHC outgoing President and CEO Maria Rowena M. Tomeldan. “We will further strengthen ALLHC’s position for the long term.”

 

During its recent virtual annual stockholders’ meeting held last April 21, ALLHC stockholders approved the increase in the company’s authorized capital stock of up to P10 billion. This will be done through the creation of P5 billion non-voting preferred shares with a par value of P1 per share, and the increase of P5 billion common shares with a par value of P1 per share. The increase in capital stock will be used as funding source for ALLHC’s expansion projects and growth plans.

 

All growth efforts are in line with the company’s vision to be leading real estate logistics and industrial estate developer in the Philippines.