Including one-off gains, net income also fell 4 percent to P12.6 billion, the holding company said in a stock exchange filing on Tuesday.
Management’s view
“We are seeing strong starts from our banking, real estate and fintech businesses. Our telco and energy businesses have some catching up to do,” said Ayala Corp. president and CEO Cezar P. Consing.
“Our smaller, newer companies are turning the corner. We are constructive on the year,” he added.
Core business performance
Bank of the Philippine Islands (BPI) led the group with a 9 percent rise in earnings to P16.6 billion, driven by strong loan growth and wider margins.
Ayala Land followed with a 10 percent increase in profit to P6.9 billion, as revenues improved across property development, leasing, and hospitality.
Globe’s core income dropped 22 percent to P4.5 billion due to slower service revenues and higher financing and depreciation costs, although its net income rose 3 percent to P7 billion on affiliate gains and a Mynt-related dilution gain.
ACEN’s net income slid 28 percent to P2 billion, while its parent AC Energy and Infrastructure Corp. (ACEIC) posted a 46 percent decline in core income to P1.7 billion, reflecting weak local power prices, forex losses, and higher expenses.
Turnaround progress at portfolio investments
• Ayala Corp.’s healthcare unit (AC Health) trimmed its net loss to ₱59 million from ₱191 million, with earnings before interest, taxes, depreciation, and amortization (EBITDA) tripling to ₱265 million, driven by stronger hospital performance and the absence of KonsultaMD losses.
• Ayala Corp.’s logistics arm (AC Logistics) narrowed its core net loss to ₱303 million, helped by ₱500 million in cost savings following the closure of Entrego and the last-mile unit of AIR21.
• Ayala Corp.’s industrial business (AC Industrials) reduced its core net loss to ₱115 million, as Integrated Micro-Electronics Inc. (IMI) returned to profitability while losses from Ayala’s mobility unit (ACMobility) widened.
• ACMobility more than doubled vehicle unit sales to 9,206, boosting market share to 7.4 percent and expanding its electric vehicle charging network to 170 active points across 72 locations nationwide.
