Net income excluding one-offs rose 5 percent to P6.88 billion, reflecting strong recurring earnings and tight cost discipline.
Second-quarter results were even stronger, with revenues climbing 16 percent to P12 billion and net income up 7 percent to P3.4 billion.
RLC also cut loans by 14 percent to P45.91 billion, improving its net debt-to-equity ratio to 24 percent.
Management’s view
“RLC’s solid results in the first half of 2025 reflect the strength of our diversified portfolio and our commitment to disciplined execution,” RLC president and CEO Mybelle V. Aragon-GoBio said in a statement.
“We sustained our growth momentum with strong performances across our core businesses, while enhancing financial flexibility through prudent balance sheet management. We remain focused on creating long-term value as we expand strategically and innovate across both investment and development portfolios,” she added.
Broad-based growth across core units
Malls posted P9.46 billion in revenues, up 9 percent, while offices earned P4.11 billion, up 5 percent. Hotels grew 9 percent to P3.1 billion, boosted by the launch of the 223-room NUSTAR Hotel in Cebu, the country’s first Filipino ultra-luxury brand.
Residential realized revenues surged 130 percent in the second quarter to P2.78 billion, pushing the first-half total to P4.73 billion, up 33 percent, on strong ready-for-occupancy sales and prior year take-ups hitting equity thresholds.
Logistics revenues rose 17 percent to P451 million, while Destination Estates booked P475 million from deferred land sales and broke ground on Asia’s first tournament-grade pickleball center in Pasig.
—Edited by Miguel R. Camus
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
