August 14, 2020 – AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc. (ALI), sustained its first quarter performance in spite of the slowdown of business operations in the second quarter as a result of the enhanced community quarantine that began in March.
For the first six months of 2020, total revenues registered at P1.6 billion, 28% lower compared to the P2.2 billion posted in the same period last year. Net income stood at P155 million, 55% lower than the previous year’s post of P346 million. The decline was largely due to the impact of the global pandemic which resulted to a slowdown in the company’s retail leasing and retail electricity supply segments.
“Despite our limited operations during the community quarantine, we managed to register a positive bottom line for the first half of the year. We are adapting to the changes brought about by the global pandemic, with our primary focus being ALLHC’s long-term financial sustainability and the safety and well-being of all our employees, locators, merchants, and customers,” said ALLHC President and CEO, Maria Rowena M. Tomeldan.
Revenues from industrial lot sales amounted to P351 million, 33% lower compared to last year’s post of P522 million. Commercial revenues likewise posted a decline of 31% at P262 million versus P381 million. Meanwhile, warehouse leasing revenues registered at P193 million, up by 38% from P140 million the previous year.
ALLHC’s industrial park locators and lessees of logistics facilities are operating with skeleton workforce at this time. Moreover, Tutuban Center and South Park Center are open to the public with mall merchants operating at limited capacity while adhering to health and safety guidelines.
“Buyers’ interest for our industrial lot offerings remains, and we see a growing demand for our warehouse facilities. ALLHC will continue to offer its diverse and well-positioned products to stay relevant and rise above the ongoing crisis,” added Tomeldan.
ALLHC also expects its ongoing expansion projects to add 30,000 square meters of gross leasable area to its warehouse portfolio by the end of 2020.