Ayala Land Inc. (ALI) reported a 52% growth in its net income for 2022, driven mainly by stronger demand given the higher interest rates recorded during the period.
In a filing to the local bourse, ALI said its net income rose to P18.6 billion, while consolidated revenues for the year posted an annual growth of 19% to P126.2 billion.
Reservation sales for the year stood at P104.9 billion, reflecting a 14% increase from 2021. Fourth-quarter sales totaled P27.6 billion or 24% higher than the same quarter in the previous year.
Some 66% of the sales were attributed to local Filipinos, 22% from overseas Filipinos, and the remaining 13% from other nationalities.
Property development revenues grew by 7% to P81.2 billion, led by commercial lot sales with revenues up 75% to P14.5 billion driven by demand for Arca South, Nuvali, and Broadfield estates.
Commercial leasing revenues climbed by 62% to P33.4 billion, with shopping centers and hotel revenues doubled to P16.1 billion and P6.2 billion respectively.
“We are encouraged by our solid performance in 2022, driven by the full reopening of the Philippine economy and the support of our customers. All major business lines achieved meaningful recovery, a testament to our employees’ hard work and dedication,” ALI president and CEO Bernard Vincent Dy said.
“Despite ongoing challenges in the operating environment, we remain positive in our outlook for 2023, and look forward to introducing new offerings that will meet the evolving needs of the market,” he added.
Dy said ALI will focus on customer satisfaction, operational excellence, and innovation as it pursues sustained growth moving forward.
ALI has over 12,000 hectares of land bank with 47 estates across the country, hosting a portfolio of complementary businesses including development of residential, office, commercial, and industrial properties for sale.
It also offers commercial leasing through shopping centers, offices, hotels, resorts, factory buildings, warehouses, co-living and co-working spaces, and services such as construction, property management, retail energy supply, and airlines.
Shares in ALI were trading down P0.15 or 0.52% at P28.95 apiece as of 02:25 p.m. on Tuesday. —Jon Viktor Cabuenas/KG, GMA Integrated News
This article Ayala Land net income up 52% in 2022 was originally published in GMA News Online.2023-02-21T08:06:32Z dg43tfdfdgfd