ROBINSONS Land Inc. (RLC) showcased impressive growth in 2023, with a 24 percent rise in net income attributable to the parent, totaling P12.06 billion, primarily fueled by the success of its malls, hotels and joint ventures.
Excluding the impact of the China profit from the previous year, the net income attributable to the parent for the year would have surged by an impressive 45 percent year-on-year.
In 2023, RLC posted consolidated revenues of P42.02 billion, an eight percent decrease from the previous year.
The investment portfolio contributed 69 percent of RLC’s revenues, totaling P28.82 billion, and accounted for 76 percent of Ebitda or earnings before interest, taxes, depreciation and amortization (P17.42 billion) and 70 percent of consolidated operating income.
This growth was primarily driven by the malls, hotels, RLX and office businesses.
The remaining portion of revenues and Ebitda, amounting to P13.20 billion and P5.40 billion, respectively, came from RLC’s development portfolio. / PR