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ALI income up 27 percent to P6.62 billion as of Sept.

Published on 08 November 2012 [ ]

Ayala Land Inc. (ALI) concluded the first nine months of 2012 with a P6.62 billion net income, a 27-percent increase from the P5.23 billion the company earned in the same period last year, driven by the strong performance and margin improvement achieved by all of the company’s major business lines.

Also, ALI’s consolidated revenues for the same period hit P39.01 billion, which is 20 percent higher than the P32.63 billion the company registered in the same period last year.

ALI said in a statement that revenues from real estate and hotels, which comprise the bulk of consolidated revenues, increased by 20 percent to P36.89 billion, while net income margin improved to 20 percent from 18 percent last year.

“We are midway into our 5-10-15 plan and we continue to progress very well and this is reflected in our results over the first nine months of the year,” said ALI Chief Finance Officer Jaime Ysmael.

He said that average monthly sales take-up remains very robust and margin improvement is steady for all business lines.

“We’ve spent 94 percent of our programmed capital expenditures for projects this year and we are looking forward to upcoming launches before the yearend. By all indications, 2012 is looking like another good year for Ayala Land,” Ysmael added.

Property development, which consists of the sale of residential units, as well as the sale of commercial and industrial lots, posted revenues of P23.91 billion in the first nine months, 27 percent higher than the P18.80 billion reported during the same period in 2011.

Also, total revenues for commercial leasing, which includes the company’s shopping center and office leasing operations, amounted to P6.34 billion in the three quarters ending September, which is 19 percent higher than the P5.33 billion recorded in same period last year.

Revenues from shopping centers, on the other hand, rose by 19 percent to P4.18 billion, marked by higher lease rates and increase in occupied space with the opening of Harbor point in Subic. Meanwhile, revenues from office leasing operations increased by 19 percent to P2.17 billion from P1.82 billion in the same period last year.

Revenues of the hotels and resorts business improved by 11 percent to P1.81 billion from P1.62 billion in the same period last year, largely from better revenue per available room.

Also, services, which include ALI’s wholly-owned construction and property management businesses, generated combined revenues (before inter-company eliminations) of P14.64 billion during the first nine months of the year, which is 40 percent higher than the P10.49 billion posted in the same period last year.

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