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Manila Bulletin devider Business devider ALLHC's earnings continue to recover

ALLHC's earnings continue to recover

Published Feb 23, 2022 03:14 pm

ALLHC's earnings continue to recover

By JAMES A. LOYOLA

AyalaLand Logistics Holdings Corp. (ALLHC), the industrial arm of Ayala Land, Inc. (ALI), reported an 11 percent improvement in net income to P780 million in 2021 as it continues to recover amidst the ongoing pandemic.

In a disclosure to the Philippine Stock Exchange, ALLHC said its operations improved last year as business activity gained momentum with the reopening of the economy.

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ALLHC's revenues rose by 7 percent to P3.99 billion as the continuous demand for industrial lots and increased leasable areas boosted the company's overall performance.

Revenues from industrial lot sales registered at P2.05 billion, 62 percent higher than P1.27 billion in 2020. Warehouse leasing revenues stood at P404 million, up 16 percent from P348 million in the previous year.

Meanwhile, commercial leasing revenues contracted 20 percent to P419 million versus P526 million in 2020 due to the quarantine restrictions during the year.

ALLHC ended the year with a total warehouse gross leasable area (GLA) of 224,000 sqm, an 8 percent growth from 207,000 sqm in 2020.

In 2021, ALLHC entered the cold storage market by acquiring two facilities. It added 7,300 pallet positions (PP) into its portfolio and recognized revenues of P49 million from this new segment.

ALLHC President and CEO Maria Rowena M. Tomeldan

"Despite the ongoing crisis, ALLHC showed commendable operations in 2021," said ALLHC President and Chief Executive Officer Maria Rowena M. Tomeldan.

She added that, “Our performance remained sound, and we posted healthy growth, enabling us to carry on with our growth aspirations. We are optimistic that business activity will continue to improve this 2022.” Last February 4, 2022, ALLHC acquired a 64,000 sqm ready-built facility in Sto. Tomas, Batangas, the company's first industrial property in the province.

It will carry the brand name "ALogis Sto. Tomas", boosting its ALogis warehouse leasing portfolio to 288,000 sqm to date, in line with its goal of building a national footprint.

ALLHC ensured its people and customers' safety and well-being and assisted various stakeholders throughout the ongoing pandemic. Its commercial properties, Tutuban Center and South Park Center, were awarded Safety Seals.

South Park Center serves the locality's needs as it presently hosts Muntinlupa's mega vaccination site, the Philippine Red Cross' RT-PCR testing, and the Philippine Statistics Authority's PhilSys National ID registration site.

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Maria Rowena M. Tomeldan AyalaLand Logistics Holdings Corp. (ALLHC)
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