Revenue inched up 2 percent to P42.88 billion, fueled by steady gains in malls, offices, hotels, and logistics. Meanwhile, consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) and Ebit grew to P23.32 billion and P17.61 billion, respectively, with margins holding at 54 percent and 41 percent.
The company’s investment portfolio remained the key driver, contributing 77 percent of total revenues, while the development segment navigated slower residential sales but remained profitable.
Management’s view
"Despite headwinds, we remained agile, leveraging our diverse portfolio and strong balance sheet to drive profitability,” said RLC president and CEO Mybelle V. Aragon-GoBio.
“Our investment portfolio continues to be a key growth driver, while we take a more disciplined and strategic approach to our development portfolio, ensuring efficient capital allocation and maximization of returns,” she added.
Strategic moves
RLC continued to unlock value from its real estate assets, securing P10.18 billion in proceeds from two tranches of REIT share placements.
The company infused P33.92 billion worth of malls and offices into RCR, marking the largest multi-asset infusion by a Philippine REIT.
Investment portfolio fuels growth
• Malls: Revenues rose 11 percent to P17.96 billion, driven by higher tenant sales and increased foot traffic. EBITDA grew 14 percent to P10.60 billion, while EBIT surged 22 percent to P7.17 billion.
• Offices: Revenue climbed 8 percent to P7.95 billion, with stable 86 percent occupancy rates. EBITDA hit P6.40 billion, while EBIT stood at P5.26 billion.
• Hotels: RLC’s hospitality arm jumped 31 percent in revenue to P6 billion, driven by strong international partnerships and its flagship Fili Hotel. EBITDA and EBIT surged 61 percent and 100 percent, respectively.
• Logistics: The segment expanded rapidly, with revenue up 33 percent to P916 million, while EBIT soared 38 percent to P671 million, fueled by new warehouse openings.
