AyalaLand Logistics profits rise 59% in H1

Published August 9, 2021, 6:00 AM

by James A. Loyola

AyalaLand Logistics Holdings Corp. (ALLHC) registered a 59 percent jump in net income to P247 million for the first six months of 2021 versus the same period last year. 

In a disclosure to the Philippine Stock Exchange, the firm said its consolidated revenues was flat at P1.6 billion in the first half of the year.

Revenues from the sale of industrial lots amounted to P611 million, a 74 percent growth compared to last year’s P351 million as a result of bookings from Pampanga, Cavite, and Laguindingan Technoparks.

Warehouse leasing revenues increased by 6 percent, ending the first half at P204 million from P193 million the previous year on account of take-ups of gross leasable area (GLA) completed in 2020.

Meanwhile, commercial leasing revenues from Tutuban Center and South Park Center contracted 16 percent to P219 million from last year’s P262 million given limited mall operations and granted rental assistance.

Sustained office leasing operations of South Park Corporate Center mitigated the effects on mall operations with a 100 percent lease-out rate.

In the second quarter, 10,000 sq.m. of GLA in ALogis Binan was completed, boosting the ALogis portfolio to 224,000 sq.m. of warehouse GLA.

In April, ALLHC also entered the cold logistics market with the acquisition of a 4,000-pallet position cold storage facility in Laguna Technopark, now branded as “ALogis Artico”. 

“The business environment remains challenging, but we are steadfast in our recovery and growth plans in the industrial real estate space,” said ALLHC President and CEO Maria Rowena M. Tomeldan. 

ALLHC also continued to engage in Alagang AyalaLand community initiatives in the first half of the year.

Through its subsidiary, Laguna Technopark, Inc., and in partnership with the Philippine Economic Zone Authority, ALLHC organized community pantries in Barangays Lorna and Timbao in Binan, Laguna, wherein more than 1,000 bags of dry goods and fresh meat and vegetables were distributed to beneficiaries. 

Ensuring the health and safety of the public, both Tutuban Center and South Park Center have also been awarded their Safety Seals from their respective city governments.

Moreover, South Park Center presently stands as Muntinlupa’s mega vaccination site, Philippine Red Cross’ saliva RT-PCR testing site, and the Philippine Statistics Authority’s PhilSys National ID registration site, serving hundreds of fellow Filipinos daily.

 
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