Industrial lot sales boost AyalaLand Logistics profits by 22%


AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land Inc. (ALI) subsidiary, delivered a 22 percent growth in consolidated net income to P413 million in the first half of the year from the P339 million earned in the comparative period of 2023.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said its consolidated revenues surged 73 percent to P2.6 billion in the first semester of 2024 from the P1.5 billion posted in the same months last year. 

Revenues from the sale of industrial lots registered at P1.7 billion, reflecting healthy demand from locators. This was driven by lot sales at Laguindingan Technopark and higher completion rates for developing industrial estates. 

Improvement in overall occupancy, coupled with an increase in leasable area, helped boost warehouse leasing revenues, which rose 14 percent to P379 million from P331 million. 

Cold storage revenues totaled P92 million, an eight percent increase compared to last year, due to contributions from the addition of ALogis Artico Santo Tomas and higher average rent. 

Meanwhile, revenues from commercial leasing registered at P466 million, up by five percent from improved mall occupancies. 

"Our first half performance exhibits our focus on achieving operational improvements across all core businesses this year," said ALLHC President and CEO Robert S. Lao. 

He noted that "alongside robust market activity, we believe our efforts to grow our asset portfolio and further enhance our industrial leasing segments will continue to position ALLHC well for growth for the remainder of 2024." 

Last May, ALLHC delivered the 5,000-pallet position ALogis Artico Santo Tomas, its fourth cold storage facility. In June, the company completed its first build-to-suit (BTS) project, a 15,000 sqm facility located within Cavite Technopark. 

Moreover, during the second quarter, ALLHC launched the second phase of its warehouse facilities in Pampanga Technopark, which will add 18,000 sqm of gross leasable area in the warehouse inventory upon delivery. 

Also within Pampanga Technopark are projects that ALLHC expects to complete within the third quarter. The first phase of ALogis Mabalacat and the ALogis Artico Mabalacat cold storage will contribute 7,700 square meters of warehouse gross leasable area and 5,000 cold pallet positions, respectively. 

In the same third quarter period, the company expects to break ground for its sixth and seventh cold storage facilities, ALogis Artico Santa Rosa in Laguna and ALogis Artico Consolacion in Cebu. 

Together, the two facilities will add 11,000 pallet positions to ALLHC's expanding cold storage portfolio.