ALI 2015 profit up 19% to P17.6B on strong sales

Ayala Land Inc. (ALI) reported a net income of P17.6 billion for last year, up by 19 percent on consolidated revenues of P107.2 billion which improved by 13 percent mainly attributable to growth drivers comprised of established and emerging estates.

“We are pleased with the company’s performance in 2015,” ALI president and CEO Bernard Vincent Dy said.

Three new integrated mixed-use estates in 2015 have been introduced – the 11-hectare Cloverleaf in Quezon City, the nine-hectare Capitol Central in Bacolod, and the 700-hectare Vermosa in Cavite.

Sale of residential lots and units earned P58.4 billion in 2015 from P52.3 billion in 2014 with contributions from residential brands namely Ayala Land Premier, Alveo, Avida, Amaia, and BellaVita. Revenues from commercial leasing increased by 16 percent to P24.5 billion in 2015.

The earnings before interest and taxes (EBIT) margin registered higher at 29 percent from 27 percent in 2014.

ALI’s capital expenditures reached P82.2 billion in 2015 and projected to hit P85 billion for 2016 as the company remained focus on supporting new projects.

Ayala Land Premier registered revenues of P23.4 billion with higher bookings posted by West Gallery Place in Bonifacio Global City and Riomonte in Nuvali, Laguna, and with increased project completion of The Courtyards in Vermosa, Cavite and the high-end residential building projects such as the Two Roxas Triangle and Garden Tower 2 at Ayala Center Makati, The Suites and East Gallery Place in Bonifacio Global City, Taguig and Park Point Residences in Cebu.

Alveo reported revenues of P14.3 billion, 43 percent higher than the P10.3 billion it posted in 2014 brought about by higher bookings and completion of subdivision projects such as Lumira and Mondia in Nuvali, Laguna and Montala in Alviera, Porac, Pampanga and condominium projects namely Kroma in Makati, Veranda Tower 1 at Arca South, Taguig, Verve Residences 1, Park Triangle Residences and Two Maridien at Bonifacio Global City, Taguig and Solinea Towers 1 and 3 in Cebu.

Avida contributed P14.7 billion in revenues or 12 percent higher compared to results in 2014. Amaia registered revenues of P3.9 billion or eight percent higher.

The increased bookings of Avida Settings at Alviera and One Union Place 1 and 2 at Arca South, combined with higher project completion of Vita Towers at Vertis North, Verte Tower 1 and The Montane at Bonifacio Global City contributed to the increase in revenues of Avida while Amaia’s major contributors are Steps Nuvali, Steps Altaraza in San Jose Del Monte Bulacan and Scapes General Trias, Cavite.

BellaVita’s revenues achieved P529.8 million from P115.6 million in 2014 due to higher contribution from projects in General Trias, Cavite, Alaminos, Laguna, Tayabas, Quezon, Porac, Pampanga and Cabanatuan City, Nueva Ecija.

Revenues from the sale of office spaces reached P6.4 billion, posting a 32 percent growth with higher bookings from Alveo Financial Tower in Makati CBD and The Stiles at Circuit Makati, higher completion of Alveo’s projects such as High Street South Corporate Plaza 1 and 2 and Park Triangle Corporate Plaza and higher sales from Avida projects such as Capital House and One Park Drive at Bonifacio Global City.

Revenues from shopping centers improved by 18 percent to reach P13.4 billion with contributions mainly from Fairview Terraces and UP Town Center.

The higher occupancy and average rental rates of existing malls also improved revenues of shopping centers.

Average occupancy rate registered at 94 percent. Total gross leasable area (GLA) of shopping centers registered at 1.45 million square meters for full year 2015.

Revenues from office leasing reached P5.2 billion, 22 percent higher year-on-year from P4.2 billion due to the better occupancy and average rental rates of existing buildings and new offices.

Total GLA of office leasing registered at 715,000 square meters for 2015.

Revenues from hotels and resorts reached P5.9 billion, six percent higher year-on-year from P5.6 billion due to improved revenue per available room (REVPAR) performance of ALI’s internationally branded hotels, its own Seda hotels, and El Nido Resorts.

The company announced the conclusion of its management contract between its subsidiary AyalaLand Hotels and Resorts Corporation and InterContinental Hotels Group (IHG) and closed InterContinental Manila on Dec. 31, 2015, in line with redevelopment plans for Ayala Center Makati. RIZA LOZADA