Ayala Land's logistics subsidiary, ALLHC, recorded a 10% increase in net income for 2024, reaching P701 million. This growth was fueled by a 48% surge in consolidated revenues, primarily driven by robust industrial lot sales and strong performance in its leasing business.
Ayala Land Inc. (ALI) subsidiary Ayalaland Logistics Holdings Corp. ( ALLHC ) reported a net income of P701 million for 2024, a 10 percent increase from the P635 million recorded in 2023. This growth can be attributed to the company's efforts to meet the rising demand for logistics and warehousing services. Consolidated revenues saw a significant surge of 48 percent, reaching P5.2 billion in 2024 compared to P3.51 billion in 2023.
Industrial lot sales played a major role in this revenue growth, hitting P3.3 billion, driven by the success of the Laguindingan Technopark in Misamis Oriental and the completion of several industrial estates.The leasing business contributed P1.8 billion in revenues, with P761 million coming from warehouse rentals, P164 million from cold storage facilities, and P919 million from commercial leasing. ALLHC's total warehouse gross leasable area expanded by 8 percent last year, reaching 340,000 square meters (sqm) compared to 314,000 sqm in 2023. In the second quarter of 2024, the company initiated the second phase of the Alogis Mabalacat facilities, a project that will add 18,000 sqm to its warehouse inventory upon completion.In the cold storage sector, ALLHC launched two new facilities, nearly doubling its capacity to 20,300 pallet positions from 10,300. ALLHC President and CEO Robert Lao expressed confidence in the company's strategy and its ability to deliver results across its operations. He stated, 'Our success in 2024 reaffirms the strength of our strategy and our ability to execute across our business.' Looking ahead, ALLHC plans to expand its industrial park footprint, including expansions for existing technoparks, and anticipates continued growth in its warehouse and cold storage businesses. However, on Friday, ALLHC shares dropped 2 centavos, or 1.25 percent, to P1.58 apiece, while shares of its parent company ALI declined by 90 centavos, or 3.73 percent, to P23.25 apiece
ALLHC Ayala Land Logistics Net Income Industrial Lot Sales Leasing Warehouse Cold Storage Technopark
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