ALI 9M24 Net Income Up 15% to P21.2B

We are pleased with the solid results delivered across our business lines. With signs of market headwinds clearing, coupled with our reinvention initiatives, we look forward to continue delivering high-quality products to our stakeholders.

ANNA MA. MARGARITA BAUTISTA-DY
ALI President and CEO

Ayala Land, Inc. sustained its solid earnings growth momentum for the first nine months of 2024, with a net income of P21.2 billion, up 15 percent year on year. Anchored on resilient property demand and consumer activity, consolidated revenues increased 27 percent to P125.2 billion.

Property development revenues rose 34 percent to P76.6 billion, on the back of higher residential and commercial lot bookings. Nine-month residential sales reservations increased 17 percent to P100.5 billion, driven by the premium market. The company’s strong sales performance translated to a monthly average of P11.2 billion, better than the P9.5 billion average during the previous year.

Meanwhile, leasing and hospitality revenues totaled P33.2 billion, 8 percent higher than in 2023 owing to the contribution of new assets namely, One Ayala Mall and East and West Office towers, Ayala Triangle Gardens Tower Two, and Seda Manila Bay. Service businesses composed of construction, property management, and other ancillary services grew 54 percent to P12.8 billion.

Capital expenditures reached P51.9 billion, of which 49 percent was spent on the buildout of residential projects, 27 percent on estate development, 13 percent on leasing and hospitality assets, and 11 percent on land acquisition commitments.

ALI ended the first nine months of 2024 with a solid net gearing ratio of 0.70:1 and a healthy interest coverage ratio of 5.3x.

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