AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land, inc. (ALI), remains committed towards supporting economic recovery and growth. Amidst the pandemic, real estate logistics play a crucial role in the country’s trade and commercial activities. Thus, throughout 2020, operations continued across ALLHC’s industrial estates, logistics and office facilities.
Financial and Operating Results
In 2020, ALLHC registered P3.72 billion in revenues versus P5.35 billion the year prior, experiencing a 30% drop. However, net income grew by 10% to P702 million from P641 million in 2019. The performance is driven by sale of industrial lots, stable warehouse and office leasing operations, and sale of non-core assets.
Warehouse leasing revenues registered at P353 million, up by 23% from P287 million the previous year. Meanwhile, industrial lot sales revenues stood at P1.28 billion, 29% lower compared to 2019’s post of P1.81 billion. Commercial leasing revenues likewise posted a decline of 39% at P520 million versus P854 million in 2019.
In spite of constraints during the pandemic, the company was able to grow its warehouse leasing GLA by 18% from 175,000 sqm to 207,000 sqm. The company ended the year with 90,000 sqm commercial GLA from 84,000 sqm, up by 7%.
“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. We remain committed to being a co-catalyst for progress, providing real estate solutions and spurring economic activity in the areas where we are present,” said ALLHC President and CEO Maria Rowena M. Tomeldan.
Staying true to its vision of energizing and supporting communities, ALLHC also continued to engage in community projects and relief efforts in 2020. We provided basic necessities to various communities in Laguna, Cavite, Pampanga, Laguindingan, and Manila.
In response to the pandemic, ALLHC prioritized the safety and well-being of our employees, service providers, and customers. The Company granted rent reprieve to mall merchants and provided assistance to the Company’s employees and frontliners throughout the year.
In partnership with the City of Manila and other Ayala Group subsidiaries, ALLHC also constructed and donated new public convenience facilities for the benefit of the local community.
New Project Launch
ALLHC continues to expand in key areas across the country. 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 already existing 13,000 sqm area of the first phase.