ALLHC income up 41% in first nine months

• AyalaLand Logistics Holdings Corp. achieved a net income of P565 million for the first nine months of the year, a 41% y-o-y increase on the back of P2.8 billion revenues, up 5% y-o-y

• Demand for industrial lots stayed solid, warehouse leasing remained resilient, while mall operations showed a recovery

• Cold storage revenue accelerated 178%

AyalaLand Logistics Holdings Corp. (ALLHC) recorded a net income of P565 million, up 41% year-on-year, for the first nine months of the year.

Revenue likewise grew 5% to P2.8 billion, from P2.6 billion.

Industrial lot sales totaled P1.2 billion as healthy demand from domestic buyers continued.

Warehousing leasing revenue reached P518 million, a 73% surge driven by additional gross leasable area and improved overall occupancy.

Cold storage revenue accelerated 178% to P89 million from P32 million due to synergies from the addition of a second facility, ALogis Artico, ALLHC’s cold storage arm.

Commercial leasing, meanwhile, generated P665 million, a 114% upsurge from the previous year, due to higher mobility and customs footfall.

“Year on year, we could see improvements across our main business segments. Demand for industrial lots stayed solid, warehouse leasing remained resilient, while mall operations showed encouraging recovery,” ALLHC chief operating officer Patrick Avila said.

“We trust business performance of our diversified portfolio to be sustained for the remainder of the year as we continue to experience increased economic activity.”

In October, ALLHC entered into agreements with FLOW Digital Infrastructure to start the intended joint venture activities for data center development in the country. The joint venture aims to address growing demand for digital infrastructure.

ALLHC also acquired 55 hectares of land in Padre Garcia, Batangas, for its future industrial estate, the Batangas Technopark. With this acquisition, ALLHC is present in six key areas, on track with its target of 10 key locations nationwide by 2025.

A subsidiary of Ayala Land Inc., ALLHC has principal business interests in holding companies, commercial leasing, industrial lot sales and development, and retail electricity supply.

Its subsidiaries include Laguna Technopark Inc.; Unity Realty Development Corp.; Orion Land Inc.; Tutuban Properties Inc.; LCI Commercial Ventures Inc.; and FLT Prime Insurance Corp.