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AyalaLand Logistics Holdings’ net income of P399 million in the first half was unchanged from the same period last year
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Consolidated revenue of P1.5 billion dropped 6.25% from P1.6 billion year-on-year
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Revenue from industrial lots, cold storage, and commercial leasing improved while warehouse leasing revenue declined during the period
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Cold storage revenues grew 50% with the addition of ALogis Artico’s third facility
AyalaLand Logistics Holdings Corp (ALLHC) posted a net income of P399 million in the first half of 2023, unchanged from the same period last year.
Consolidated revenue of P1.5 billion dropped 6.25% from P1.6 billion year-on-year.
Sales from industrial lots contributed P675 million to revenue, up 3% from P657 million in the first half of 2022. ALLHC management expects to convert reserved lots to actual bookings over the next six months.
Warehouse leasing revenues reached P331 million, a 9% decline year-on-year, on account of the facilities upgrade of ALogis Calamba, which was delivered and leased out at the end of the second quarter. Overall occupancy is expected to rise within the second half of the year as tenants start their operations.
Cold storage revenues grew 50% to P85 million from P57 million with the addition of ALogis Artico’s third facility.
Commercial leasing increased its topline by 3% to P443 million from P429 million due to improved mall occupancy and rental rates.
“We remain positive that our diversified real-estate portfolio, alongside our up-and-coming projects in the pipeline, will propel the business forward,” ALLHC chief operating officer Patrick Avila said in a statement.
In April, ALLHC broke ground for its built-to-suit (BTS) facility. The 15,000 square meters facility in Cavite Technopark will cater to a local retailer under a long-term lease contract. As part of increasing its recurring revenue business, ALLHC said it intends to aggressively expand its BTS business. ALLHC also tenanted its 18,000 sqm facility in Calamba last May to a logistics firm that services the demand from an automotive company.
Last June, ALLHC launched its 270-hectare Pampanga Technopark, a mixed-use development in Mabalacat, Pampanga. It was ALLHC’s biggest industrial township development to date and will include an agricultural wholesale market with support facilities such as cold storage, dry warehouse facilities, and public transport terminal.
Similar to Pampanga Technopark, ALLHC’s Batangas Technopark will become an industrial township. Launched last April, the technopark will also include an agro-industrial area complemented by a dry warehouse, cold storage facility, agricultural wholesale market, and public transport terminal.
The A-FLOW Data Center project, meanwhile, remains on track as development works are ongoing with the initial roll-out of 6 megawatts is expected to be ready for service by end of 2024.
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.
