ROBINSONS Land Corp. (RLC) posted a 9-percent increase in its consolidated net income for the first quarter to P4.40 billion, driven by steady earnings from its investment portfolio and stronger contributions from its residential business.
In a disclosure on Monday, the property developer said consolidated revenues rose 11 percent to P12.28 billion during the period, while net income attributable to equity holders of the parent reached P3.54 billion.
RLC President and CEO Mybelle Aragon GoBio said the company’s performance reflects its earlier transition toward a recurring-income strategy under its Vision 5:25:50 roadmap.
“Our performance is a validation of being intentional early on, transitioning our portfolio towards more recurring income and building deep cash reserves — establishing a robust financial cushion as a cornerstone of our risk management strategy,” she added.
RLC said its investment portfolio remained the main earnings driver, accounting for 75 percent of revenues and 85 percent of Ebitda.
Revenues from the segment grew 8 percent year-on-year to P9.2 billion, while Ebitda increased 4 percent to P5.6 billion.
Mall revenues climbed 7 percent to P5.1 billion, with Ebitda up 3 percent to P3.1 billion, supported by resilient consumer demand and stable tenant performance.
Office revenues increased 8 percent to P2.2 billion, while Ebitda rose 6 percent to P1.7 billion due to stable occupancy and lease escalations.
Hotel revenues grew 14 percent to P1.7 billion, while Ebitda rose 10 percent to P537 million, driven by strong performance from international brands and hotels of Nustar Resort and Casino.
Logistics revenues were steady at P269 million, while Ebitda stood at P250 million.
Meanwhile, the development portfolio, which accounted for 25 percent of revenues and 15 percent of Ebitda, recorded a 22-percent increase in revenues to P3.1 billion.
The residential segment led growth, with revenues surging 39 percent to P2.7 billion and Ebitda jumping 55 percent to P754 million due to accelerated construction progress and higher revenue recognition.
Residential net sales reached P3.74 billion, of which P455 million came from organic projects and P3.29 billion from joint ventures.
However, joint venture equity earnings declined 46 percent year-on-year to P181 million due to depleted inventory.
Destination Estates posted weaker results, with revenues falling 28 percent to P161 million and Ebitda declining 37 percent to P82 million because of project phasing.
The company’s total assets stood at P286.38 billion as of end-March, while interest-bearing debt remained at P39.55 billion, resulting in a net gearing ratio of 9.64 percent.
Cash reserves reached P21.72 billion, supported by P4.47 billion in free cash flow and proceeds from the oversubscribed P7 billion share placement of RL Commercial REIT Inc. in January 2026.
Capital expenditures during the quarter slightly increased to P3.25 billion from P3.23 billion in the same period last year.
On Monday, RLC’s share price rose by 58 centavos to close at P17.88 each.
