-
AyalaLand Logistics Holdings Corp. (ALLHC) posted a net income of P165 million in the first quarter of 2021, a growth of 10% year-on-year
-
Revenues from industrial lot sales and warehouse leasing jumped 9% and 13%, respectively, while revenues from commercial leasing fell by 33%
-
ALLHC aims to expand its warehouse gross leasable area to 500,000 square meters, establish its presence in 10 key locations across the country and create new business platforms by 2025
AyalaLand Logistics Holdings Corp. (ALLHC) posted a net income of P165 million in the first quarter of 2021, a 10% year-on-year growth driven by tightened spending and cost-management initiatives amidst a challenging environment.
Consolidated revenues for the first quarter of this year amounted to P964 million, ALLHC said in a statement.
Revenues from the sale of industrial lots registered at P383 million, 9% higher compared to last year’s P351 million, the growth attributed to lot sales at Pampanga Technopark and reflective of the healthy demand from local locators, ALLHC noted.
Improvement in rentals and recoveries helped boost warehouse leasing revenues, growing 13% to P123 million from P109 million.
Meanwhile, revenues from commercial leasing registered at P125 million, down by 33% from P186 million.
Operations of South Park Corporate Center remained stable; however, this was tempered by the limited operations of South Park mall and Tutuban Center.
In its virtual annual stockholders’ meeting held last April, ALLHC management announced that despite the pandemic-induced challenges, the company was still set on building its national footprint by growing its warehouse gross leasable area (GLA) to 500,000 square meters (sqm), establishing its presence in 10 key locations across the country and creating new business platforms by the year 2025.
Last January, ALLHC broke ground for the second phase of ALogis Naic at Cavite Technopark to expand its GLA by 16,000 sqm upon completion in December 2021.
In March, an additional 6,000 sqm of GLA in ALogis Calamba was completed, bringing up the ALogis portfolio to 213,000 sqm of warehouse GLA.
Moreover, to further diversify its product offerings, ALLHC acquired a 4,000 pallet position cold storage facility located in Laguna Technopark. This marks ALLHC’s foray into the cold logistics market, branding the cold storage segment in its portfolio as ALogis Artico.
ALLHC said all expansion efforts are in line with its vision to become the leading real estate logistics and industrial estate developer in the Philippines.
ALLHC, a subsidiary of Ayala Land, Inc., 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.
