AYALALAND Logistics Holdings Corp. (ALLHC) saw its net income decline to P5 million in the first quarter from P66 million a year earlier on weaker industrial lot sales and higher costs.
In a disclosure on Tuesday, the Ayala Land Inc. subsidiary said consolidated revenues slipped to P725 million from P868 million, reflecting softer development income despite steady growth in its leasing business.
ALLHC said higher depreciation and financing costs from prior expansion projects also contributed to the decline in net income.
“Amid a more cautious market environment, we continue to see healthy interest in our Technopark developments, reflected in improved pre-sales,” ALLHC President and CEO Robert Lao said.
“While we saw tempered earnings in the near term, our leasing assets continue to provide stability as we maintain disciplined execution across the portfolio, alongside a more measured approach to capital deployment,” he added.
Industrial lot sales were said to have fallen 58 percent to P165 million from P394 million due to fewer project completions.
Demand indicators remained resilient, however, with sales reservations rising 46 percent year-on-year to P517 million, which the company expects to increase within the year.
Leasing operations continued to provide stability, with revenues rising 19 percent to P551 million.
Growth was driven by improved occupancy across assets, particularly in cold storage facilities.
Meanwhile, warehouse leasing rose seven percent to P202 million, supported by additional capacity delivered in 2025 and stronger utilization.
Cold storage revenues surged 157 percent to P118 million, while commercial leasing held steady at P231 million.
AyalaLand Logistics’ share price rose by 2 centavos to close at P1.15 apiece on Tuesday. NAZYLEN JOY MABANGLO
