AyalaLand Logistics Holdings Corp. (ALLHC) recorded a 10% increase in net income last year as operations of its industrial estates, logistics and office facilities continued amidst the COVID-19 pandemic
Revenues dropped 30% as industrial lot revenues and commercial leasing revenues declined by 29% and 39%, respectively
Warehousing leasing revenues rose 23% as gross leasable areas for warehousing increased by 18%
In January 2021, ALLHC broke ground for the second phase of expansion of its warehouse facilities in Cavite Technopark
AyalaLand Logistics Holdings Corp. (ALLHC) recorded a net income of P702 million in 2020, a 10% increase from the P641 million earned in 2019 as operations of its industrial estates, logistics and office facilities continued amidst the COVID-19 pandemic.
Revenues last year, however, dropped 30% to P3.72 billion from P5.35 billion in 2019, ALLHC said in a statement.
Industrial lot revenues stood at P1.28 billion, 29% lower compared with the P1.81 billion registered in 2019. Commercial leasing revenues likewise posted a decrease of 39% to P520 million from P854 million in 2019.
Warehousing leasing revenues, on the other hand, grew 23% to P353 million in 2020 from P287 million in 2019.
ALLHC noted that in spite of constraints brought by the COVID-19 pandemic, its warehouse gross leasable area (GLA) increased 18% to 207,000 square meters (sqm) from 175,000 sqm previously. Its commercial GLA likewise rose 7% to 90,000 sqm from 84,000 sqm.
“The COVID-19 crisis presented both challenges and opportunities. We believe our products are well positioned to cater to the needs of our locators, lessees and retail merchants, present and future,” ALLHC president and chief executive officer Maria Rowena Tomeldan said.
In response to the pandemic, ALLHC said it engaged in community projects and relief efforts; granted rent reprieve to mall merchants; and provided assistance to employees and frontliners throughout the year.
In January 2021, ALLHC broke ground for the second phase of its warehouse facilities in Cavite Technopark in Naic, Cavite. Upon completion, this expansion of ALogis Naic will add 16,000 sqm GLA to the existing 13,000 sqm of the first phase.
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.