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Manila Bulletin devider Business devider The Stock Market devider Ayalaland Logistics profits rise 75% to P618 million

Ayalaland Logistics profits rise 75% to P618 million

Published Nov 5, 2024 12:47 am

AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land, Inc. (ALI) subsidiary, reported a 75 percent jump in consolidated net income to P618 million in the first nine months of 2024 from the P354 million earned in the same period last year.

In a disclosure to the Philippine Stock Exchange, the firms said its consolidated revenues almost doubled, surging 90 percent, to P4.0 billion in the first three quarters of 2024 from P2.1 billion in the comparative period last year. 

Industrial lot sales revenues reached P2.6 billion mainly on account of lots sold at Laguindingan Technopark coupled with higher completion rates for developing industrial estates. 

Leasing businesses contributed total revenues of P1.2 billion from the strong performances of warehouse, cold storage, and commercial leasing. 

Warehouse leasing grew its topline to P566 million from P510 million last year given the increase in leasable area and higher occupancy. 

Cold storage revenues increased to P153 million from P129 million from the addition of the ALogis Artico Santo Tomas facility in the portfolio.

Meanwhile, commercial leasing revenues registered at P680 million due to improved mall occupancies. 

"Our investments in leasing business segments have strengthened and diversified our industrial real estate portfolio," said ALLHC President and CEO Robert S. Lao.

He added that, “We look to deliver on our healthy pipeline of leasable properties which will increase our recurring revenue and enable us to establish a stronger foothold in the real estate logistics industry.” 

Last August, A-FLOW marked a major construction milestone with the topping off of the first building of the ML1 Data Center. A-FLOW is the joint venture partnership between ALLHC and FLOW Digital Infrastructure. 

The first phase of the data center will have an initial 6MW capacity ready for service. 

In the fourth quarter, ALLHC expects to complete the first phase of the ALogis Mabalacat warehouse facility and the ALogis Artico Mabalacat cold storage which will add 7,700 square meters of gross leasable area and 5,000 cold pallet positions to the portfolio, respectively. 

Moreover, construction is also in full swing for the second phase of ALogis Mabalacat, which will contribute an additional 18,000 square meters of warehouse inventory upon its delivery.
 

Related Tags

AyalaLand Logistics Holdings Corp. (ALLHC) Robert S. Lao
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