ALI FY23 Net Income Up 32% to P24.5B

Ayala Land, Inc. delivered strong results in 2023, fueled by robust property demand and heightened consumer activity. ALI’s net income grew 32 percent to P24.5 billion, and consolidated revenues increased by 18 percent to P148.9 billion from 2022.

Property development revenues expanded by 14 percent to P92.3 billion, driven by steady bookings and higher completion of residential projects and offices for sale. Residential reservation sales grew by 9 percent year on year to P113.9 billion.

ALI launched 14 projects in the fourth quarter of 2023 with a combined value of P39.6 billion, bringing the company's total launches last year to 25 projects valued at P75.9 billion.

“Ayala Land was well-positioned to take advantage of opportunities from an improving market in 2023, enabling us to meet our objectives for the year”, said ALI President and CEO Anna Ma. Margarita Bautista-Dy. “With our focus on quality, we look forward to bringing more high-value development products to market and embarking on the reinvention of our malls, hotels, and resorts for our customers to enjoy."

ALI launched four new estates in 2023: the 55-hectare Batangas Technopark in Padre Garcia, Batangas; the 32-hectare Centrala in Angeles City, Pampanga; the 800-hectare Southmont in Silang, Cavite; and the 62-hectare Arillo in Nasugbu, Batangas. These new estates will catalyze new communities and economic activity, solidifying ALI's presence in the country's high-growth corridors.

AREIT Income Up 43% to P4.9B

AREIT, Inc. posted total revenues of P7.14 billion and EBITDA of P5.04 billion, 41 percent and 39 percent higher year on year, respectively, on account of stable operations and consistent asset infusions. Net income was P4.93 billion, 43 percent higher year on year, excluding the net fair value change in investment properties. AREIT's properties recorded 97 percent average occupancy at the end of 2023, higher than the industry. The company declared cash dividends of P0.55 per outstanding common share for the fourth quarter of 2023, payable on March 20 to shareholders on record as of March 4.

Read the full disclosures and press statements on the company websites or PSE Edge.