AyalaLand logistics posts net income of P635 million

Business.(Business File photo)

AYALALAND Logistics Holdings Corp. (ALLHC), an Ayala Land Inc. (ALI) subsidiary, registered consolidated revenues of P3.51 billion and a net income of P635 million in 2023.

Demand for industrial lots remained robust in 2023 with lots sold reaching a total gross value of P2.6 billion, a record high for the company. However, booked industrial lot sales revenues amounted to P1.55 billion, a 34 percent dip from 2022, on account of ongoing development works for industrial estates.

In April 2023, the company launched its fifth industrial estate, the 55-hectare Batangas Technopark in Padre Garcia, Batangas, which has been well received by buyers and investors.

Warehouse leasing revenues posted a two percent growth to P659 million despite the facilities upgrade in ALogis Calamba, which was completed and leased at the end of the second quarter of 2023. Meanwhile, cold storage revenues accelerated by 46 percent year-on-year to P176 million mainly driven by contribution from full-year operations of ALogis Artico Mandaue and higher overall occupancy.

Commercial leasing recorded an eight percent growth to 872 million from improvements in the malls’ occupancies and rental rates, paired with increased customer foot traffic and steady office tenancy. / PR


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