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AyalaLand Logistics Holdings Corp. reported a 59% year-on-year growth in net income to P247 million for the first six months of 2021
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Revenues from industrial lot sales and warehouse leasing grew 74% and 6%, respectively
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Revenues from commercial leasing contracted by 16%
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ALLHC aims to expand its warehouse gross leasable area to 500,000 square meters, establish presence in 10 key locations across the country and create new business platforms by 2025
AyalaLand Logistics Holdings Corp. (ALLHC) reported a net income of P247 million for the first six months of 2021, a 59% year-on-year growth driven by increases in industrial lots and warehouse leasing revenues.
Consolidated revenues for the first semester of 2021 totaled P1.6 billion, ALLHC said in a statement.
Revenues from the sale of industrial lots amounted to P611 million in the first half of the year, a 74% growth compared to P351 million last year as a result of bookings from Pampanga, Cavite and Laguindingan Technoparks.
Warehouse leasing revenues increased by 6%, ending the first half of 2021 at P204 million from P193 million the previous year on account of take-ups of gross leasable areas (GLA) completed in 2020.
Commercial leasing revenues from Tutuban Center and South Park Center, on the other hand, contracted 16% to P219 million from last year’s P262 million given limited mall operations and rental assistance granted. Sustained office leasing operations at South Park Corporate Center mitigated the effects of mall operations with 100% lease-out rate.
In the second quarter of the year, 10,000 square meters (sqm) of GLA in ALogis Biñan was completed, boosting the ALogis portfolio to 224,000 sqm of warehouse GLA. In April, ALLHC also entered the cold logistics market with the acquisition of a 4,000-pallet positions cold storage facility in Laguna Technopark, the storage now branded as ALogis Artico.
READ: Ayala firm enters cold chain market with P409M facility acquisition
“The business environment remains challenging, but we are steadfast in our recovery and growth plans in the industrial real estate space,” ALLHC president and chief executive officer Maria Rowena Tomeldan said.
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 GLA to 500,000 sqm, establishing its presence in 10 key locations across the country and creating new business platforms by the year 2025.
ALLHC said it envisions becoming the leading real estate logistics and industrial estate developer in the Philippines through its expansion efforts.
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.
