AyalaLand Logistics' earnings dive 87% as industrial lot sales slow down
AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land, Inc. (ALI) subsidiary, reported that its earnings fell by 87 percent to ₱81 million in the first nine months of the year from ₱618 million in the same period of 2024 due to lower industrial lot sales.
In a disclosure to the Philippine Stock Exchange, the firm said its consolidated revenues dropped 35 percent to ₱2.6 billion from ₱4 billion in the nine-month period last year.
“The company's modest performance for the period reflected slower industrial lot take-up and the ongoing stabilization of newly completed and acquired assets,” ALLHC said.
It noted, though, that “While industrial lot sales declined from last year's strong base, ALLHC's leasing operations continued to provide steady contributions, partly offsetting the drop in sales.”
Industrial lot sales revenues reached ₱1.1 billion, down 57 percent year-on-year, following strong lot sales at Laguindingan Technopark in 2024.
The company also launched Batangas Technopark Phase 2 in the third quarter, adding ₱2.3 billion worth of saleable inventory to its industrial portfolio.
ALLHC's leasing businesses generated ₱1.5 billion in total revenues, up four percent year-on-year.
Warehouse leasing remained steady with revenues at ₱559 million, while cold storage revenues rose by 32 percent to ₱202 million following the addition of new Artico cold chain facilities in Mabalacat, Urdaneta, and Iloilo.
Commercial leasing also posted a two percent gain to ₱692 million in revenues, supported by higher mall occupancies and stable office leasing.
"We continue to make progress in strengthening our portfolio, with newly added assets showing improvement as they stabilize. We are sharpening our efforts to lift occupancy and sales across our developments," said ALLHC President and CEO Robert S. Lao.
In the fourth quarter, ALLHC is set to launch Phases 6 and 7 of Pampanga Technopark, introducing ₱3 billion in new inventory to its industrial portfolio.
These phases will be registered with the Philippine Economic Zone Authority (PEZA) and the Board of Investments (B01) as an economic zone and an industrial zone, respectively.