Ayala Corp., the Philippines’ oldest conglomerate, posted record core earnings for a third consecutive year as gains in its real estate and banking units shielded the group from the slump in its energy and telecommunications businesses.

In a disclosure to the Philippine Stock Exchange, the firm said that core net income for the Zobel family-led company rose seven percent to ₱48.3 billion last year.

Including one-off items—specifically revaluation gains from its fintech arm Mynt and the sale of property assets—reported net income surged 46 percent to ₱61.4 billion.

In 2025, Bank of the Philippine Islands (BPI) saw its net income climb seven percent to ₱66.6 billion, fueled by record revenues that offset rising operating costs.

Similarly, Ayala Land Inc. reported an eight percent increase in core profit to ₱30.6 billion, supported by its hospitality and leasing divisions. Ayala Land’s bottom line was further bolstered by the ₱39.1 billion sale of its stake in Alabang Commercial Corp.

“Our strong performance in 2025 reflects the resilience of our core businesses and the steady progress of our emerging businesses,” Cezar Consing, Ayala president and chief executive officer, said in the statement.

Consing added that the group enters 2026 with sharper focus on portfolio optimization and balance sheet resilience to ensure sustainable shareholder returns.

However, the conglomerate faced headwinds in its technology and energy sectors. Globe Telecom Inc. saw its core profit slip three percent to ₱20.9 billion, weighed down by higher depreciation and interest expenses.

In the energy sector, AC Energy & Infrastructure (ACEIC) reported a 47 percent drop in net income to ₱6.6 billion. While renewable energy arm ACEN Corp. saw a modest four percent rise in core earnings, its reported profit was dragged down by impairment losses on wind projects in Vietnam and weaker power prices.

The group’s smaller portfolios showed signs of a turnaround. AC Health swung to a ₱34 million profit from a ₱607 million loss a year earlier, aided by a 71 percent jump in provider revenues.

ACMobility nearly doubled its unit sales to 42,684 vehicles, capturing nine percent of the total market and dominating the electric vehicle segment with an 82.3 percent share.

Meanwhile, industrial unit Integrated Micro-electronics Inc. returned to profitability with a $13.5 million net income, reversing a $49.8 million loss through cost-cutting measures.