AyalaLand Logistics earnings rise 41%

AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land Inc. (ALI) subsidiary, reported a 41 percent hike in consolidated net income to P565 million for the first nine months of 2022.

In a disclosure to the Philippine Stock Exchange, ALLHC said it generated consolidated revenues of P2.8 billion, a five percent improvement from last year’s nine-month post of P2.6 billion.

Revenues from the sale of industrial lots totaled P1.2 billion as healthy demand from domestic buyers continues.

Warehouse leasing revenues reached P518 million, a 73 percent rise driven by additional gross leasable area (GLA) coupled with improved overall occupancy.

Cold storage revenues accelerated 178 percent to P89 million from P32 million the year prior due to the addition of ALogis Artico’s second facility.

Meanwhile, commercial leasing generated revenues of P665 million, a 114 percent uptick from the previous year, with higher mobility and customer footfall.

“Year-on-year, we could see improvements across our main business segments. Demand for industrial lots stayed solid, warehouse leasing remained resilient, while mall operations showed encouraging recovery,” said ALLHC Chief Operating Officer Patrick C. Avila.

He added that, “We trust business performance of our diversified portfolio to be sustained for the remainder of the year as we continue to experience increased economic activity.”

In October, ALLHC entered into agreements with FLOW Digital Infrastructure to commence the activities of the intended joint venture partnership for data center development in the country.

The joint venture earmarks the delivery of the first data center facility in a hyperscale campus, with an initial roll-out of 6MW.

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The article was originally published in Manila Bulletin and written by James A. Loyola.