AYALA Corporation President and CEO Cezar "Bong" Consing attributed to the reopening of the economy and the gradually improving consumer and business confidence the conglomerate's resurgent growth both topline and core net income. "Our largest publicly-listed companies reported strong results, and the other companies in our portfolio are gaining traction and adding heft," Consing enthused.

Reproduced below are the highlights of Ayala's operating performance for the first three quarters.

Ayala Corporation's net income grew 23 percent to P23.9 billion in the first nine months of 2022, a result of higher earnings contributions from Ayala Land, BPI, and Globe.

Ayala Land's net income jumped 55 percent to P13.3 billion. ALl's diversified real-estate portfolio exhibited a significant uptick in commercial lot sales, progress in the construction of its residential projects, and recovery in commercial leasing.

BPI's net income expanded 75 percent to P30.5 billion on the back of higher interest and non-interest income and lower provisions, and a gain from the sale of a property.

Globe's net income increased 48 percent to P26.5 billion mainly due to higher gross service revenues and gains coming from the partial sales of its data center business and tower assets.

On the other hand, ACEN's net income of P4.1 billion in the first nine months of 2022, represented a four percent decline. It is notable that strong international earnings offset the decline in Philippine earnings.

Isolating BPI's gain on the sale of a property, Globe's gain on the partial sales of its data center business and tower assets, ACEN's sale of GN Power Kauswagan, AC Health's remeasurement gain in Qualimed, and other one-off items, Ayala's earnings rose 13 percent to P21.8 billion year-on-year.

The company's net income in the third quarter of 2022 decreased 15 percent year on year to P7.6 billion because of a net one-off gain in 3Q21 and a net one-off loss in 3Q22. Excluding the one-off items, Ayala's net income increased 44 percent to P8.6 billion primarily because of strong earnings from ALl and BPI. ALI's property development and commercial leasing segments registered double digit gains while BPl's net interest income and non-interest income continued to show significant growth.

Parent level cash stood at P16.4 billion and parent net debt was at P148.4 billion. Parent net debt-to-equity ratio stood at 118 percent and consolidated net debt-to-equity was at 77 percent. Loan-to-value ratio, or the ratio of its parent net debt (excluding the fixed-for-life perpetuals which have no maturity) to the total value of its assets, was at 13.4 percent.

"Festival of Lights" is back live

After two years of virtual editions of the "Festival of Lights" to ensure public safety during the height of the pandemic, the most anticipated family Christmas tradition is back live and onsite at Ayala Triangle Gardens until January 8.

Running daily between 6 p.m. and 10 p.m., this year's "Festival of Lights" is being staged in partnership with Kroma and The Acid House, with director Ohm David and lighting designer Sueyen Austero.

Accompanying the light show are three holiday medleys: an orchestral rendition by the Manila Symphony Orchestra; an upbeat TikTok rendition by Tris Suguitan, Jazz Nicolas, and Mikey Amistoso; and a soothing chorale rendition by Jazz Nicolas and Mikey Amistoso.

Coming up at Ayala Triangle Gardens are Ayala Land's Christmas Market on December 2 to 31, in partnership with the French Embassy, and the Simbang Gabi on December 15 to 23, featuring a live performance by the Philippine Youth Symphonic Band on the first night of anticipated Masses.

The relaunching of The "Festival of Lights" last November 10 was graced by Ayala Chairman Emeritus Jaime Zobel de Ayala and Mrs. Beatriz Zobel de Ayala. Ayala Land Estates Group Head Robert Lao, ALI President and CEO Bobby Dy, Beatriz Susana Zobel de Ayala, Sofia Zobel Elizalde, Makati Mayor Abby Binay, Makati Rep. Luis Campos Jr., and Makati Vice Mayor Monique Lagdameo.