AyalaLand Logistics Holdings Corp. (ALLHC), the logistics arm of Ayala Land Inc. (ALI), said Tuesday it booked a net income of P618 million in the first nine months of 2024, up 75 percent from P354 million in the same period last year.
ALLHC said in a disclosure to the stock exchange its nine-month consolidated revenues reached P4 billion, up by 83 percent from the previous year’s level.
“Our investments in leasing business segments have strengthened and diversified our industrial real estate portfolio. We look to deliver on our healthy pipeline of leasable properties which will increase our recurring revenue and enable us to establish a stronger foothold in the real estate logistics industry,” said ALLHC president and chief executive Robert Lao.
The company said industrial lot sales reached P2.6 billion, driven by lots sold at Laguindingan Technopark, coupled with higher completion rates for developing industrial estates.
Leasing businesses added P1.2 billion to total revenues, on the back of strong performances of warehouse, cold storage and commercial leasing.
Warehouse leasing grew its topline to P566 million from P510 million last year, given the increase in leasable area and higher occupancy.
Cold storage revenues increased to P153 million from P129 million, following the addition of the Alogis Artico Santo Tomas facility in the portfolio.
Meanwhile, commercial leasing revenues amounted to P680 million on improved mall occupancies.
ALLHC expects to complete the first phase of the ALogis Mabalacat warehouse facility and the ALogis Artico Mabalacat cold storage before end-2024.
These will add 7,700 square meters of gross leasable area and 5,000 cold pallet positions to the group’s portfolio.
Construction is also in full swing for the second phase of ALogis Mabalacat, which will contribute an additional 18,000 square meters of warehouse inventory upon its completion.
A-FLOW, a joint venture between ALLHC and FLOW Digital Infrastructure topped off of the first building of the ML1 Data Center in August.
The first phase of the data center will have an initial 6-megawatt information technology capacity ready for service.
