The Gokongwei Group’s property development arm, Robinsons Land Corp. (RLC), reported a five percent improvement in attributable net income to ₱7.2 billion in the first half of the year, driven by the strength and resilience of its recurring and development businesses.

In a disclosure to the Philippine Stock Exchange, the firm said its consolidated revenues reached ₱25.4 billion—up 10 percent from the same period last year—while net income expanded 12 percent to ₱9 billion.

EBITDA and EBIT both rose eight percent year-on-year to ₱13.5 billion and ₱10.3 billion, respectively, demonstrating operational efficiency and positioning the company well for the remainder of the year.

“Our strong first-half performance reflects the resilience of our diversified portfolio and the strategic execution of our growth strategy across all business segments,” said RLC President and CEO Mybelle V. Aragon-GoBio.

She noted that, “Despite a challenging operating environment, we delivered double-digit growth in revenues and consolidated net income while maintaining a strong balance sheet and healthy cash reserves."

“As we continue to see strong demand across our recurring income businesses and development portfolio, we remain focused on creating long-term value for our stakeholders through prudent investments and operational excellence,” Aragon-GoBio added.

RLC’s investment portfolio remained the primary earnings driver, delivering stable and recurring income streams. Revenues grew seven percent year-on-year to ₱18.4 billion, while EBITDA increased six percent to ₱11 billion.

The Malls segment sustained its growth momentum in the first half, posting a 6 percent revenue increase to ₱10 billion. EBITDA expanded to ₱6 billion and EBIT to ₱4.1 billion, reflecting the continued strength of its retail ecosystem, solid tenant performance, and disciplined asset management.

“These results underscore the resilience of our mall platform and its ability to consistently generate sustainable earnings growth across market cycles,” she said.

RLC’s Offices portfolio continued to generate stable recurring earnings. First-half revenues grew 6 percent to ₱4.37 billion, while EBITDA and EBIT increased 5 percent to ₱3.42 billion and ₱2.78 billion, respectively, reflecting the resilience of its high-quality office assets and tenant base.

The Hotels segment delivered robust growth, with first-half revenues reaching ₱3.41 billion—up 10 percent year-on-year. EBITDA and EBIT grew 13 percent to ₱1.08 billion and ₱588 million, respectively, supported by the growing contribution of Fili and the sustained strength of its international hotel brands.

RLC’s Logistics segment also delivered strong results, with first-half revenues rising 25 percent to ₱561 million. EBITDA grew 27 percent to ₱517 million, while EBIT jumped 35 percent to ₱405 million.

The firm’s development portfolio recorded robust growth, with revenues increasing 19 percent to ₱7.0 billion and EBITDA rising 16 percent to ₱2.5 billion, supported by improved project execution and revenue recognition.

The Residential segment sustained its strong momentum as first-half revenues increased 23 percent to ₱5.81 billion. EBITDA and EBIT expanded 24 percent to ₱1.44 billion and 25 percent to ₱1.36 billion, respectively, supported by higher construction progress and revenue recognition from residential developments.

RLC’s equity share in joint ventures reached ₱729 million, up 3 percent year-on-year, supported by higher contributions from key joint venture projects and the continued strength of its development partnerships.

For the first half, the company generated ₱5.0 billion in net sales, of which ₱1.4 billion was attributed to its organic projects and ₱3.6 billion to its joint ventures due to first-quarter sales.

The Destination Estates segment posted revenues of ₱517 million, with EBITDA and EBIT reaching ₱310 million and ₱291 million, respectively, supported by higher project completion and revenue recognition from joint venture developments. (James A. Loyola)