November 2, 2021

AyalaLand Logistics Holdings Corp. (ALLHC) posted consolidated net income of P402 million for the first nine months of the year, an increase of 117% compared to the same period last year.

 

ALLHC’s consolidated revenues grew 12% to P2.6 billion from last year’s 9-month post of P2.3 billion. Revenues from industrial lot sales amounted to P1.1 billion, rising by 126% versus P511 million the previous year, as domestic demand for industrial lots continues. Meanwhile, warehouse leasing revenues rose to P299 million, up 6% from the previous year’s post of P282 million, due to gross leasable area (GLA) completed in 2020 being taken up.

 

Renewed restrictions and rental assistance to tenants continued to weigh down commercial leasing operations, resulting to a decline in revenues from Tutuban Center and South Park Center by 16% to
P311 million from last year’s P369 million. Cushioning the impact is South Park Corporate Center’s office leasing operations with its 100% lease-out rate.

 

ALLHC’s net gearing ratio ended at 0.46:1.

 

“We see signs of recovery in our business lines with industrial lot sales driving significant improvement in our overall performance this quarter. While the current business environment still proves to be challenging, we trust that our growing diversified portfolio of assets will keep ALLHC resilient amidst the ongoing crisis,” said ALLHC President and CEO, Maria Rowena M. Tomeldan.

 

In August, ALLHC won the Gold Stevie®️ Award for Company of the Year – Real Estate (Medium-size) category at the 18th Annual International Business Awards®️ in recognition of its commitment to global standards of excellence and quality.

 

ALLHC also recently marked the 1st year of TutuBuy, Tutuban Center’s digital business initiative. ALLHC continues its support for Divisoria SMEs through TutuBuy, providing these enterprises the online platform to offer their products beyond their physical spaces. Holiday shoppers may likewise visit the reopened Tutuban Night Market. Bargain hunters can find various goods such as Christmas decors, apparel, footwear, toys and accessories from over 400 stalls in the outdoor market. Tutuban Night Market is open daily from 3:00 p.m. to 11:00 p.m.