This marked an improvement from the 4 percent dip in the first quarter, signaling stronger momentum across the group. Including one-off items, net income rose 5 percent to P23.4 billion due to lower impairment charges.
Management’s view
“While our telco and energy businesses have some catching up to do, our full year targets remain achievable,” said Ayala president and CEO Cezar P. Consing.
“We are also encouraged to see our portfolio businesses showing better numbers. The recently announced investment in AC Health by Singapore’s ABC Impact demonstrates our ability to bring in strategic partners to help scale our businesses.”
Ayala’s core earnings rose 9 percent quarter-on-quarter to P12.4 billion, driven by stronger contributions from Globe, ACEIC, and ACMobility. AC Health and AC Logistics also narrowed losses, while IMI swung to profitability on improved margins and operational efficiency.
BPI anchors growth, Ayala Land gains
BPI’s net income rose 8 percent to P33.0 billion on robust loan growth and wider margins, with total loans reaching P2.4 trillion. Non-institutional loans surged 27 percent, lifting the bank’s net interest margin to 4.58 percent. Return on equity remained solid at 14.9 percent.
Ayala Land’s income also climbed 8 percent to P14.2 billion, supported by steady property development revenues and record leasing and hospitality results. Sales reservations improved quarter-on-quarter, led by a strong rebound in the core residential segment.
Portfolio improves, health and mobility shine
AC Health cut its core net loss to P100 million, driven by strong provider group revenues and the strategic investment from ABC Impact. ACMobility quadrupled its net income to P122 million, while IMI reversed a net loss last year to a $7.6-million profit.
Globe, ACEN earnings weigh on results
Globe’s core income fell 11 percent to P10.4 billion due to lower service revenues and higher depreciation and interest expenses, though second-quarter earnings rebounded 30 percent.
ACEN’s core profit dropped 24 percent to P3.5 billion, dragged by storm-damaged assets, weak solar output, and lower spot market prices. Including impairments from its Vietnam wind assets, ACEN’s net income plunged 88 percent to P763 million.
—Edited by Miguel R. Camus
