AyalaLand Logistics posts 29% profit increase to P1B

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AYALALAND Logistics Holding Corp. (ALLHC) reported a 29% increase in net income to P1.01 billion in 2022 as the economic reopening supported its business growth.

“The country’s continued economic recovery in 2022 enabled ALLHC to sustain its growth momentum. Our business lines’ resilience led to significant performance improvement,” ALLHC President and Chief Executive Officer Jose Emmanuel H. Jalandoni said in a statement on Tuesday.

The company said it recorded P4.2 billion in consolidated revenues last year, without disclosing a comparative figure.

ALLHC said it saw a 44% increase in revenues from warehouse leasing to P648 million, 144% higher cold storage revenues to P120 million and a 28% jump in commercial leasing revenues to P544 million in 2022.

The company said it also registered a 15% revenue increase from industrial lot sales to P2.35 billion.

“We remain positive that our diversified industrial real estate portfolio will allow us to pursue our aspirations of growing our existing product lines and explore new platforms and offerings for our customers,” Mr. Jalandoni said.

ALLHC ended 2022 with a total warehouse gross leasing area of 309,000 square meters (sq.m.), a 37.9% growth from 224,000 sq.m. in 2021.

Last year, it acquired a 55-hectare land parcel in Padre Garcia, Batangas for the company’s fifth industrial estate.

The logistics company also closed a joint venture deal with FLOW Digital Infrastructure last year that is expected to deliver 36 megawatts (MW) of IT capacity in Biñan, Laguna, with an initial rollout of a 6-MW capacity by end-2024.

Shares in the company rose by 1.36% or four centavos to P2.98 each at the stock exchange. — Justine Irish D. Tabile