Including one-off items, total net income increased five percent to ₱34 billion, the country’s oldest conglomerate said in a stock exchange filing on Wednesday.
Ayala also keeps its balance sheet strong with ₱72.7 billion in cash and a manageable net debt-to-equity ratio of 0.78 times.
Net debt went up 12 percent to ₱562.9 billion, while parent-level cash stood at ₱6.9 billion.
Management’s view
“Ayala’s growth is being sustained by the strong performances of our core businesses,” Ayala president and CEO Cezar P. Consing said in a statement.
“We continue to manage our younger businesses to get them to sustainable trajectories in the near term, and we strive to build a simpler, more collaborative, and more connected Ayala,” he added.
Core segments
BPI earned a record ₱48 billion, up 24 percent, driven by higher loans, fees, and better profit margins, while Ayala Land’s income grew 15 percent to ₱21.2 billion, supported by strong demand for housing and consumer activity.
Globe’s core net income increased 19 percent to ₱17.6 billion, lifted by record service revenues, lower expenses, and a boost from payment giant GCash through Mynt.
ACEN’s net income jumped 24 percent to ₱8.1 billion, thanks to more renewable energy generation and favorable market conditions.
ACEIC’s core income grew 21 percent to ₱8.7 billion, with gains from ACEN and currency exchange helping offset weaker returns from thermal assets, while total income stayed flat at ₱10.2 billion due to one-off factors.
Portfolio investments
AC Health’s revenues grew 11 percent to ₱6.9 billion, with its provider group of clinics and hospitals posting a strong 25 percent revenue increase.
Its pharma group managed one percent growth despite a declining industry.
AC Industrials reduced its net loss to ₱5.1 billion from ₱6.1 billion, though core net loss widened to ₱921 million due to weaker demand in Integrated Microelectronics Inc.
Bullish on electric vehicles
ACMobility expanded its passenger vehicle lineup with three new electric models: the BYD Seagull at ₱898,000, the BYD Seal at ₱2.5 million, and the Kia EV9 at ₱5.9 million.
The company also rolled out over 80 new charging points, totaling 111 across 50 locations nationwide.
