AYALALAND Logistics Holdings Corp. (ALLHC) reported consolidated net income of P62 million in the third quarter, bringing its nine-month earnings to P73 million, with the earnings recovery in quarter supported by revenue recognition from industrial lot sales and sustained leasing performance.
The logistics and industrial property developer said last week that the improved third-quarter results narrowed the company’s year-on-year net income decline from 90 percent in the first half to nine percent for the nine-month period.
The company had reported net income of P11.0 million in the six months ended June, down sharply from P105 million in the same period in 2025, due in part to a 44-percent decline in industrial lot sales and a six-percent drop in commercial leasing revenues.
ALLHC President and CEO Robert Lao said the third-quarter income improvement reflected progress in securing tenants and sustained demand for industrial properties.
“Navigating a challenging market backdrop, the sequential improvement in our third-quarter net income reflects strong progress in securing key tenants across our leasing business and capitalizing on continued demand for our industrial lots,” he said.
The company’s recurring leasing business generated P1.6 billion in revenues during the first nine months, up nine percent from last year.
Cold storage operations posted the strongest growth, with revenues surging 76 percent to P355 million, supported by higher facility utilization and contributions from newly integrated facilities, including Artico Iloilo and Artico Urdaneta.
Dry warehouse leasing revenues also increased five percent to P585 million, reflecting stable operations and improved occupancy across its warehouse network.
Meanwhile, industrial lot sales contributed P903 million in recognized revenue during the period, down 19 percent from last year, but reservations for industrial lots rose 23 percent to P1.3 billion, indicating potential revenue contributions in succeeding quarters.
Commercial leasing revenues were down seven percent to P646 million, continuing to reflect softer retail market conditions.
“Moving forward, we remain focused on stabilizing and strengthening our overall portfolio,” Lao said.
ALLHC, majority owned by Ayala Land Inc., said it would continue to focus on improving cold storage utilization and increasing industrial land take-up as it enters the final quarter of the year.
The company’s shares on Friday closed unchanged at P1.09 each.
