AyalaLand Logistics Holdings Corp. Reported a PHP 635 Million Net Income in 2023

AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc. (ALI), reported consolidated revenues of P 3.51 billion and a net income of P 635 million for 2023.​

Demand for industrial lots continued strong in 2023, with lots sold totaling P 2.6 billion, a record for the company. However, booked industrial lot sales revenues were P 1.55 billion, a 34% decrease from the previous year, due to ongoing development work at its industrial parks. In April 2023, the business opened its fifth industrial estate, the 55-hectare Batangas Technopark in Padre Garcia, Batangas, which has been positively appreciated by buyers and investors.

Despite ALogis Calamba's facility improvement, which was completed and leased at the end of the second quarter of 2023, warehouse leasing revenues increased by 2% to P 659 million. In the second quarter, ALLHC began work on ALogis Mabalacat in Pampanga Technopark and its first build-to-suit facility in Cavite Technopark, which will add 23,000 square meters of warehouse gross leasable area (GLA) upon completion. The company concluded the year with a total of 314,000 square meters. of warehouse GLA from deliveries at ALogis Naic.

Meanwhile, cold storage revenues increased by 46% year-on-year to P 176 million, owing mostly to contributions from ALogis Artico Mandaue's full-year operations and increased overall occupancy. ALLHC commenced expansions in the first half of 2023, with building beginning for ALogis Artico Santo Tomas in Batangas and ALogis Artico Mabalacat in Pampanga, each adding 10,000 pallet positions to the portfolio upon delivery.

Commercial leasing climbed by 8% to P 872 million due to improved mall occupancy and rental rates, higher foot traffic, and stable office tenancy.

"In 2023, focus was placed on laying the groundwork for our ongoing and upcoming endeavors. We maintain a strong belief in the potential of our ongoing projects in our pipeline. The projects underway position us well for growth, and their continued progress affirms our positive outlook for 2024 and the coming years," said ALLHC President and Chief Executive Officer Robert S. Lao.
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For the year 2024, the company plans to make great progress in land development for its two industrial townships, Pampanga Technopark and Batangas TechnoPark. Anchored by industrial parks, both developments will include commercial and mixed-use components such as transportation terminals, gas stations, retail and fast-service restaurants, and a bagsakan, or agricultural wholesale market.
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Other projects scheduled for completion this year include the ALogis Mabalacat and Naic warehouse facilities, as well as the first phase of the A-FLOW data center campus, which will have 6 MW of IT capacity. Furthermore, ALLHC plans to boost expansion by building a warehouse facility in Metro Manila, a cold storage facility in Luzon, and two more in the Visayas and Mindanao areas this year. All of them are efforts to grow the company's recurring revenue businesses.

"Our future deliveries enable us to follow through on our commitment to expand not just our network of industrial properties nationwide but also our industry presence," added Mr. Lao.

AyalaLand Logistic Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc. (ALI), is the leading industrial real estate company in the Philippines.

ALLHC is present in seven growth areas nationwide through its industrial parks, warehouses, cold storage facilities, data centers, and commercial leasing.