AyalaLand Logistics Holdings Corp. Reported P413 Million in Net Income in H1 2024, Up by 22%

AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land, Inc. (ALI) subsidiary, delivered solid operational results in the first six months of 2024, posting consolidated revenues of P2.6 billion and net income of P413 million.

Revenues from the sale of industrial lots registered at P1.7 billion, reflecting healthy demand from locators. This was driven by lot sales at Laguindingan Technopark and higher completion rates for developing industrial estates. Improvement in overall occupancy coupled with an increase in leasable area helped boost warehouse leasing revenues, rising 14% to P379 million from P331 million. Cold storage revenues totaled P92 million, an 8% increase versus last year, on account of contributions from the addition of ALogis Artice Santo Tomas and higher average rent. Meanwhile, revenues from commercial leasing registered at P466 million, up by 5% from improved mall occupancies.

"Our first half performance exhibits our focus on achieving operational improvements across all core businesses this year," said ALLHC President and Chief Executive Officer Robert S. Lao. "Alongside robust market activity, we believe our efforts to grow our asset portfolio and further enhance our industrial leasing segments will continue to position ALLHC well for growth for the remainder of 2024."

Last May, ALLHC delivered the 5,000-pallet position ALogis Artice Santo Tomas, its fourth cold storage facility, while in June, the company completed its first build-to-suit (BTS) project, a 15-000 sqm facility located within Cavite Technopark. Moreover, during the second quarter, ALLHC launched the second phase of its warehouse facilities in Pampanga Technopark, which will add 18,000 sqm of gross leasable area in the warehouse inventory upon delivery.

Also within Pampanga Technopark are projects that ALLHC expects to complete within the third quarter. The first phase of ALogis Mabalacat and the ALogis Artice Mabalacat cold storage will contribute 7,700 square meters of warehouse gross leasable area and 5,000 cold pallet positions, respectively.

In the same third quarter period, the company expects to break ground for its sixth and seventh cold storage facilities, ALogis Artice Santa Rosa in Laguna and ALogis Artice Consolacion in Cebu. Together, the two facilities will add 11,000 pallet positions to ALLHC's expanding cold storage portfolio.

AyalaLand Logistics 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. Among its developments are world-class industrial estates: Laguna Technopark, Cavite Technopark, Pampanga Technopark, Batangas Technopark, and Laguindingan Technopark in Misamis Oriental. Its ALogis standard factory buildings are located in Binan and Calamba, Laguna; Naic, Cavite; Porac, Pampanga, and Santo Tomas, Batangas, complemented by the ALogis Artico cold storage facilities in Laguna, Batangas, and Cebu. The first A-FLOW data center campus was launched in Laguna in December 2022. Its commercial leasing portfolio comprises Tutuban Center in Manila and South Park Center in Muntinlupa City.