AyalaLand Logistics Holdings Corp. (ALLHC) reported that its profit continued to drop, falling 89.5 percent to ₱11 million in the first half of 2026 from ₱105 million in the same period last year due to lower industrial lot sales and commercial leasing revenues.

Based on its disclosure to the Philippine Stock Exchange (PSE) on Tuesday, Aug. 11, consolidated revenues declined 11 percent to ₱1.6 billion from the ₱1.8 billion registered in the same period last year, supported by continued growth in its industrial leasing businesses.

Industrial lot sales dropped 44 percent to ₱489 million during the first six months of 2026 from ₱1.8 billion in the same period last year.

“Customer interest in ALLHC’s technopark developments remained evident, with sales reservations reaching ₱791 million, up 11 percent year-on-year, despite the prevailing market environment,” the company said.

It noted, “These reservations provide visibility for future revenue recognition as payment milestones are achieved.”

ALLHC’s leasing businesses generated ₱1.1 billion in total revenues, a 13-percent increase year-on-year, driven by higher contributions from the company’s warehouse and cold storage facilities.

Warehouse leasing revenues increased nine percent year-on-year to ₱391 million as occupancy across the portfolio continued to improve.

Cold storage revenues nearly doubled to ₱243 million, up 99 percent year-on-year, due to higher utilization across most facilities.

However, commercial leasing revenues declined six percent year-on-year to ₱438 million, reflecting softer occupancy during the period.

ALLHC is expanding its cold storage capacity by about 14,000 pallets to over 40,000 pallets by the end of the year.

In an earlier interview, ALLHC Chief Operating Officer (COO) Patrick John C. Avila said they have already completed two facilities this year, Artico Sta. Rosa in Laguna province and Artico Consolacion in Cebu province, with a combined capacity of 9,000 pallets.

“We still have ongoing construction [or a third facility] in Cavite. We’re still working on that. The intention is [to complete it in] the latter part of this year,” he said, adding that this facility in Vermosa estate will have a capacity of 5,000 pallets.

Avila noted that while they continue to work on their expansion plans, “the focus right now, because we already have nine operating cold storage facilities, the focus is to stabilize the operations, the occupancies.”

ALLHC is also expanding its dry warehouse business and has just opened a new facility in Pampanga Technopark called ALogis Mabalacat, which has a gross leasable area of 25,700 square meters (sqm). This brings the ALogis chain’s total portfolio size to 380,000 sqm. - James A. Loyola