Ayala Land posts record P11.74-B income, sets P70-B Capex in 2014 | Manila Bulletin | Latest Breaking News | News Philippines
Natural Disaster
Home  » Business » Business News » Ayala Land posts record P11.74-B income, sets P70-B Capex in 2014

Ayala Land posts record P11.74-B income, sets P70-B Capex in 2014

Real estate giant Ayala Land, Inc. (ALI) has kept its trajectory with profit rising 30 percent to a record P11.74 billion last year from the P9.04 billion posted in 2012.

In a disclosure to the Philippine Stock Exchange, the firm said it also exceeded its target to breach the P10 billion mark one year ahead of its five-year plan.

Aquino, Manila Bulletin

Aquino

“Strong growth by each of our business lines showed good execution of the growth strategy with the increased delivery of new products in new geographies,” said ALI president and CEO Antonino Aquino.

He added that “market acceptance of the products was enhanced by their presence in our integrated mixed use communities across the country and the strong ALI brand.”

ALI’s five residential brands launched a total of 28,482 units in 2013 worth P108 billion and the Company plans to launch 30,000 units across all residential brands this year, anticipating continued demand for housing products.

It broke ground for three new estates last year, the 21-hectare Circuit Makati, the 32- hectare Atria in Iloilo, and the 100-hectare Altaraza in Bulacan.

“During the same period of high profit growth, ALI also doubled its landbank, improved its organizational capability and strengthened its capital structure. These foundations will enable ALI to grow further in the years ahead,” Aquino said.

ALI’s consolidated revenues reached P81.52 billion, 36 percent higher year-on-year. Revenues from real estate, which comprised the bulk of consolidated revenues, increased by 40 percent to P76.34 billion mainly driven by the strong performance across the property development, commercial leasing and services business lines.

The firm said it spent a total of P66.26 billion in capital expenditures in 2013, 7 percent lower than the P71.29 billion spent the previous year.

“The Company continued to take advantage of favorable market conditions with its successive fund raising activities, ranging from the two equity top-up placements made over the last two years and the series of bond offerings which were all successfully priced and executed,” said ALI Chief Finance Officer Jaime E. Ysmael.

Ysmael said “these enabled ALI to fund its aggressive capex program which allowed it to secure strategic landbank positions in key growth centers and support business expansion.”

ALI has allotted another P70 billion in 2014 primarily earmarked for the completion of ongoing developments and new launches, which will help sustain the Company’s growth trajectory in the coming years.

It plans to launch 78 projects this year with an estimated value of P142 billion.