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AyalaLand Logistics saw an 11% growth in income in 2021 from 2020 on steady demand for industrial lots and increased leasable areas
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Revenues from industrial lot sales and warehouse leasing grew 62% and 16%, respectively
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Commercial leasing revenue contracted 20%
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ALLHC recognized P49 million revenue from cold storage, its new business segment
AyalaLand Logistics Holdings Corp. (ALLHC) recorded an 11% growth in net income to P780 million in 2021, boosted by steady demand for industrial lots and increased leasable areas.
Revenues rose 7% to P3.99 billion with revenues from industrial lot sales reaching P2.05 billion, 62% higher than the P1.27 billion in 2020, ALLHC said in a statement.
Warehouse leasing revenue was P404 million, up 16% from P348 million in the previous year. Commercial leasing revenue, on the other hand, contracted 20% to P419 million from P526 million due to quarantine restrictions during the year, the company said.
In 2021, ALLHC entered the cold storage market by acquiring two facilities, adding 7,300 pallet positions into its portfolio, and recognized revenue of P49 million from this new segment.
READ: Ayala firm enters cold chain market with P409M facility acquisition
The company ended 2021 with a total warehouse gross leasable area (GLA) of 224,000 square meters, an 8% growth from 207,000 sqm in 2020.
On February 4, ALLHC acquired a 64,000 sqm ready-built facility in Sto. Tomas, Batangas, its first industrial property in the province.
READ: AyalaLand buys Batangas warehouse facility for P1.2B
The new asset will carry the brand name ALogis Sto. Tomas, boosting the company’s ALogis warehouse leasing portfolio to 288,000 sqm to date in line with its goal of building a national footprint.
ALLHC earlier said it was still set on building its national footprint by growing its warehouse GLA to 500,000 sqm, establishing its presence in 10 key locations across the country, and creating new business platforms 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.
