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Manila Bulletin devider Business devider The Stock Market devider AyalaLand Logistics' Q1 profit dives 92% as lot sales drop, costs rise

AyalaLand Logistics' Q1 profit dives 92% as lot sales drop, costs rise

Published May 5, 2026 03:40 pm

AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of property giant Ayala Land Inc. (ALI), saw its net income plunge 92 percent to ₱5 million in the first quarter of the year from the ₱66 million earned in the same period last year due to lower lot sales and expansion-related costs.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, May 5, the firm said the drop in net income reflected lower industrial lot sales as well as higher depreciation and financing costs related to prior expansions.

ALLHC President and Chief Executive Officer (CEO) Robert S. Lao said, “While we saw tempered earnings in the near term, our leasing assets continue to provide stability as we maintain disciplined execution across the portfolio, alongside a more measured approach to capital deployment.”

Consolidated revenues declined 16.5 percent to ₱725 million from ₱868 million in the first quarter last year. Sales from industrial lots contributed ₱165 million in revenues, down 58 percent from ₱394 million last year, reflecting early-stage project completions.

Despite a more cautious market environment, demand continues, with sales reservations reaching ₱517 million, up 46 percent year-on-year. These pre-sales are expected to be recognized within the year as payment milestones are met and projects progress.

ALLHC continues to actively manage its available inventory, with the timing of future launches calibrated to prevailing market conditions.

“Amid a more cautious market environment, we continue to see healthy interest in our Technopark developments, reflected in improved pre-sales,” Lao said.

ALLHC’s leasing revenues grew 19 percent year-on-year to ₱551 million, driven by improved occupancy across its portfolio, particularly in cold storage, as assets completed and acquired in the previous year continue to stabilize.

Warehouse leasing generated ₱202 million in revenues, up seven percent year-on-year, supported by contributions from additional capacity delivered in 2025 alongside improving occupancy.

Cold storage revenues reached ₱118 million, surging 157 percent year-on-year, as utilization ramped up across facilities. Meanwhile, commercial leasing revenues remained steady at ₱231 million. - James A. Loyola

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