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Manila Bulletin devider Business devider AyalaLand Logistics posts P1-B net income

AyalaLand Logistics posts P1-B net income

Published Mar 1, 2023 05:51 pm

AyalaLand Logistics Holdings Corporation (ALLHC), a subsidiary of Ayala Land, Inc. (ALI), registered a 29 percent growth in net income to P1.01 billion last year on account of resilient operations and the country's reopened economy in 2022.

In a disclosure to the Philippine Stock Exchange, the firm said consolidated revenues dipped to P4.20 billion last year from P4.3 billion in 2021.

ALLHC registered P2.35 billion in industrial lot sales, 15 percent better than the previous year, on steady domestic investor demand.

In May 2022, the company acquired a 55-hectare land parcel in Padre Garcia, Batangas for the development of the future Batangas Technopark, making it ALLHC's fifth industrial estate.

Revenues from warehouse leasing rose by 44 percent to P648 million with the contribution of additional gross leasable area and improved overall occupancy.

ALLHC ended the year with a total warehouse GLA of 309,000 sqm, a 38 percent growth from 224,000 sqm in 2021, with deliveries from ALogis Sto. Tomas and ALogis Naic.

Meanwhile, cold storage revenues soared to P120 million, a 144 percent increase due to operations from ALogis Artico's second facility.

ALLHC likewise secured 3,000 pallet positions into its portfolio in December 2022, increasing its pallet position count by 42 percent to 10,300 by year-end.

In commercial leasing, revenues accelerated by 28 percent to P544 million with increased mobility, normalized mall rental rates, and stable office tenancy.

"The country's continued economic recovery in 2022 enabled ALLHC to sustain its growth momentum. Our business lines' resilience led to significant performance improvements," said ALLHC President and Chief Executive Officer Jose Emmanuel H. Jalandoni.

He added that, “We remain positive that our diversified industrial real estate portfolio will allow us to pursue our aspirations of growing our existing product lines and explore new platforms and offerings for customers.”

In 2022, ALLHC entered a joint venture partnership with FLOW Digital Infrastructure to develop data center campuses across the Philippines. The joint venture earmarks the delivery of a three-building campus facility with 36MW of IT capacity in Binan, Laguna, with an initial roll-out of 6MW by end-2024.

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