| THE AYALA WAY

Vol 6 No 16

"We ended the year on solid footing, with all our business lines executing on their growth strategies. We look forward to the year and are excited to bring innovative residential and leasing offerings to our customers, expand our market reach, and capture new business opportunities."

ANNA MA. MARGARITA BAUTISTA-DY
ALI President and CEO

FULL-YEAR EARNINGS

ALI 2024 Net Income Up 15% to P28.2B

Ayala Land, Inc. achieved solid growth across its business lines despite headwinds in the operating environment, anchored on the strength of its diversified portfolio. The company’s consolidated revenues reached its highest mark-to-date at P180.7 billion, 21 percent higher year on year, and net income registered at P28.2 billion, up 15 percent from a year ago.

Revenues from property development businesses grew 22 percent to P112.9 billion, driven by higher residential and estate lot bookings. Residential revenues accelerated by 23 percent to P94.9 billion on higher bookings across all brands. Meanwhile, revenues from commercial and industrial lots jumped by 34 percent to P14.6 billion lifted by demand for lots outside Metro Manila. Moreover, office-for-sale contributed P3.5 billion mainly from project bookings.

Leasing and hospitality revenues reached P45.6 billion, 9 percent higher than in 2023, driven by healthy operations of existing assets combined with the contribution of new assets namely, One Ayala Mall and BPO towers, Ayala Triangle Gardens Tower Two, and Seda Manila Bay. Both shopping center and office leasing revenues grew by 9 percent to P23.0 billion and P12.9 billion, respectively, while hotel and resort revenues reached P9.7 billion, up 11 percent year on year.

Capital expenditures reached P84.6 billion, of which 46 percent was spent on the build out of residential projects, 27 percent on estate development, 15 percent on leasing and hospitality assets, and 12 percent on land acquisition commitments.

ALI ended 2024 with a solid net gearing ratio of 0.73:1 and a healthy interest coverage ratio of 5.1x.

Read the full disclosure and press statement on the company website or PSE Edge.