ALI 2024 net income up 15% to P28.2B

20 Feb 2025 – Ayala Land, Inc. (ALI) achieved solid growth across its business lines despite headwinds in the operating environment, anchored on the strength of its diversified portfolio. The Company’s consolidated revenues reached its highest mark-to-date at P180.7 billion, 21% higher year-on-year, and net income registered at P28.2 billion, up 15% from a year ago.

PROPERTY DEVELOPMENT

Revenues from Property Development businesses grew 22% to P112.9 billion, driven by higher residential and estate lot bookings. Residential revenues accelerated by 23% to P94.9 billion on higher bookings across all brands. Meanwhile, revenues from commercial and industrial lots jumped by 34% to P14.6 billion lifted by demand for lots outside Metro Manila. Moreover, office-for-sale contributed P3.5 billion mainly from project bookings.

The Company achieved residential sales reservations of P127.1 billion, up 12% year-on-year on the back of resilient demand from the Premium segment, horizontal projects, and developments in suburban estates. Sales from the Premium Brands, AyalaLand Premier (ALP) and Alveo, jumped 25% to P80.8 billion, accounting for 64% of sales. Demand for horizontal lots and house-and-lot offerings increased with sales ending 16% higher than a year ago. By location, demand for developments outside Metro Manila remained robust with take-up accelerating 14% from 2023 levels.

Total launches for the year reached P80.5 billion, 64% of which are located outside Metro Manila. Notable launches during the year include: ALP’s Enara in Nuvali Heights, Laguna and Anvaya Seabridge Residences Buildings A & B in Morong, Bataan; Avida’s Makati Southpoint Tower 3, the brand’s first condominium offering in Metro Manila since 2022, and Serin Terraces in Tagaytay.

LEASING AND HOSPITALITY

Leasing and Hospitality revenues reached P45.6 billion, 9% higher than in 2023 driven by healthy operations of existing assets combined with the contribution of new assets namely, One Ayala Mall and BPO towers, Ayala Triangle Gardens Tower Two, and Seda Manila Bay. Both Shopping Center and Office leasing revenues grew by 9% to P23.0 billion and P12.9 billion, respectively, while hotel and resort revenues reached P9.7 billion, up 11% year-on-year.

Seventy two-thousand square meters (sqm) of new commercial leasing space was opened in 2024 to further bolster ALI’s portfolio. Two new office towers were inaugurated, namely, Park Triangle Corporate Center in Bonifacio Global City (BGC), and the One Ayala South Tower at the Makati Central Business District (CBD). Moreover, an additional 25-thousand sqm of mall space was opened at AyalaMalls Vermosa in Cavite.

“We ended the year on solid footing, with all our business lines executing on their growth strategies,“ said ALI President and CEO Ms. Anna Ma. Margarita Bautista-Dy. “We look forward to the year and are excited to bring innovative residential and leasing offerings to our customers, expand our market reach and capture new business opportunities,” she added.

CAPEX, BALANCE SHEET AND SHAREHOLDER VALUE

Capital expenditures reached P84.6 billion, of which 46% were spent on the build out of residential projects, 27% on estate development, 15% on leasing and hospitality assets, and 12% on land acquisition commitments.

ALI ended 2024 with a solid net gearing ratio of 0.73:1 and a healthy interest coverage ratio of 5.1x.

Consistent with its firm commitment to shareholder value, Ayala Land disbursed total cash dividends of P7.4 billion in 2024. Moreover, another P7.4 billion was utilized in the Company’s share buyback program, boosting earnings per share growth to 17%. Through these key initiatives, Ayala Land has returned a combined P14.8 billion of capital to shareholders equivalent to 60% of the prior year’s net income.