Ayala unit posts 11% profit growth as economy reopens

AYALALANDLOGISTICS.COM

AYALALAND Logistics Holdings Corp. (ALLHC) reported revenue and revenue growth in 2021 as the company continues to see demand for industrial land and the company increased its leasable area by 8%.

In a statement on Wednesday, the ALLHC said its businesses “have gained momentum” due to the country’s economic reopening. The company reported a net profit of 780 million pesos in 2021, an increase of 11% from the 702.8 million pesos recorded by the company in 2020.

“Despite the current crisis, ALLHC showed commendable operations in 2021. Our performance remained strong and we posted healthy growth, enabling us to pursue our growth aspirations,” said ALLHC Chief Executive Officer Maria Rowena M. Tomeldan.

ALLHC recorded a 7% growth in turnover last year, from 7.32 billion pesos to 3.99 billion pesos in 2020. The total gross leasable area (GLA) of the warehouse of the company grew 8% to 224,000 square meters (m²) from 207,000 m². .

The company’s industrial batch sales increased 62% to 2.05 billion pesos from 1.27 billion pesos year-on-year. Revenue from its warehouse rental business increased 16% to 404 million pesos from 348 million pesos in 2020.

However, revenue from its commercial rental segment fell to 419 million pesos, 20% less than the 526 million pesos generated in 2020.

“We are optimistic that business activity will continue to improve in 2022,” Ms. Tomeldan said.

Earlier this month, ALLHC announced its acquisition of 64,000 m² of land. plug-and-play installation in Sto. Tomas Batangas. ALogis Sto. Tomas increased his rental portfolio to 288,000 m².

ALLHC shares on the stock exchange rose 5.68% or 26 centavos to close at P4.84 apiece on Wednesday. — Keren Concepcion G. Valmonte