The core figure excludes the ₱1.84 billion in insurance proceeds booked in 2023, which had temporarily boosted last year’s net income.
Stripping out this one-time gain offers a clearer view of the company’s recurring earnings.
Vista Land’s real estate sales rose 9 percent to ₱16.63 billion, helped by faster project completions and financing income.
Rental income edged up 4 percent, while interest earnings grew 12 percent on better returns. Gross profit jumped 30 percent as sales rose and costs fell 20 percent from savings and project cleanup.
Operating expenses dropped 8 percent, but other income like parking and hotel fees fell 20 percent, and financing costs surged 73 percent due to new accounting rules.
Still, earnings before interest, taxes, deprecation and amortization rose 11 percent to ₱22.82 billion, with margins improving to 62 percent, showing the company kept earnings steady despite cost pressures.
