Globe’s earnings before interest, taxes, depreciation and amortization (EBITDA) hit an all-time high, driven by topline gains and GCash momentum, while ACEN’s net income climbed 27 percent on strong renewables output.
Management’s view
“2024 was Ayala’s strongest year ever. We continue to be reliant on our core business units but 2025 should be an inflection point for our smaller and newer businesses,” Ayala president and CEO Cezar P. Consing said in a statement.
“We will continue to build a more concentrated, collaborative and connected Ayala and grow businesses that deliver long-term shareholder value,” he added.
Segment breakdown
Banking
• BPI’s net income hit a record P62 billion, up 20 percent, as strong revenues offset higher costs.
• Total loans jumped 18 percent to P2.3 trillion, with non-institutional loans up 42 percent.
• Asset quality remained stable, with an NPL ratio of 2.13 percent.
Real Estate
Ayala Land’s net income climbed 15 percent to P28.2 billion, fueled by strong residential, commercial, and industrial demand.
Reservation sales reached P127.1 billion, with 66 percent of launches outside Metro Manila. Capital expenditures are projected at P95 billion for 2025.
Power
• ACEN’s net income surged 27 percent to P9.4 billion, driven by a 25 percent rise in renewables output.
• Philippine renewable generation rose 60 percent, led by new solar and wind plants.
• Attributable capacity reached 6,978 MW across various development stages.
Telecom
Globe’s core net income grew 14 percent to P21.5 billion, backed by record service revenues and Mynt’s strong performance.
Mobile data revenues rose seven percent to P97.4 billion, while EBITDA hit P86.8 billion. The company remains focused on digital expansion and cost efficiencies.
Portfolio: A mixed bag
Healthcare
• AC Health’s revenues rose 10 percent to P9.4 billion, with its provider group growing 22 percent. Its venture withFar Eastern University – Dr. Nicanor Reyes Medical Foundation turned EBITDA positive, while net loss widened to P610 million due to KonsultaMD impairments and cancer hospital ramp-up costs.
Logistics
• AC Logistics’ net loss increased to P2.2 billion due to Air21 clean-up expenses, though EBITDA losses narrowed 34 percent to P633 million. GMAC CDO cold storage utilization hit 74 percent, while a 40 percent stake sale to A.P. Moller Capital is pending approvals.
Industrials
• AC Industrials reduced its net loss to P2.4 billion from P7.3 billion on lower impairments, though core net loss widened to P1.6 billion. IMI’s revenues dropped to $1.1 billion due to rationalization efforts.
Mobility
• AC Mobility’s net loss widened to P465 million despite a 46 percent rise in unit sales to 23,483. The company held an 85 percent share in new electric vehicles and expanded its charging network to 215 points across 86 locations.
