Robinsons Land clinches P4.7 billion net income in Q1 2024

Business.
Business.(Business File photo)

JG SUMMIT Holdings’ real estate arm Robinsons Land Corp. (RLC) reported a solid first-quarter performance, with a net income of P4.07 billion driven by growth across all business units.

Excluding a one-time gain on the reclassification of its GoTyme investment, net income to parent increased by 21 percent year-on-year to P3.34 billion.

Consolidated Ebitda (earnings before interest, taxes, depreciation and amortization) reached an all-time high of P6.15 billion in the first quarter this year, and the board declared cash dividends of P0.65 per share.

RLC’s investment portfolio, particularly in malls and hotels, contributed significantly to the revenue growth of P11.03 billion, a 19 percent increase compared to the same period last year.

The company maintained financial stability with substantial cash reserves and a healthy net gearing ratio.

RLC’s top boss Lance Gokongwei, in a statement, highlighted the successful execution of their strategic initiatives, and emphasized their commitment to sustained growth and innovation. / PR

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