ROCKWELL Land Corp. posted a 46-percent increase in net income to P3.028 billion in the first half, from P2.074 billion a year earlier, as stronger residential sales and the expansion of its commercial business pushed revenue growth to 41 percent.
In a disclosure on Wednesday, Rockwell Land said consolidated revenues reached P13.568 billion in the six months ended June, up from P9.633 billion in the same period last year.
Residential development remained the company's largest revenue source, generating P10.247 billion — up 37 percent from P7.496 billion last year and accounting for 76 percent of consolidated revenue.
Commercial development also provided a bigger contribution, with revenue rising to P3.322 billion from P2.137 billion, attributed mainly to the consolidation of Alabang Commercial Corp. and higher average rental rates in its retail and office businesses.
Earnings before interest, taxes, depreciation and amortization (Ebitda) increased 43 percent to P5.878 billion from P4.107 billion. Rockwell Land's residential business contributed P3.649 billion to first-half Ebitda, while commercial development contributed P2.229 billion.
The company, however, faced higher financing costs during the period. Interest expense rose 75 percent to P1.533 billion from P876 million primarily due to a higher loan balance.
Rockwell Land spent P7.6 billion on project and capital expenditures in the first half, with the bulk going to land acquisitions and development costs for Edades West, Mactan, BenCab, Powerplant Mall Angeles and Cabo.
The company said these were funded mainly by internally generated funds and bond proceeds.
Rockwell reported total assets of P142.7 billion as of end-June, up 10 percent from P129.2 billion at end-2025, while total liabilities increased to P92.8 billion from P81.5 billion.
Its debt-to-equity ratio rose to 1.01 times from 0.86 times at the end of 2025, while its net debt-to-equity ratio edged up to 0.78 times from 0.77 times.
The company had raised P10 billion through a bond issuance in March, the first tranche under a P20-billion shelf-registered program.
Rockwell Land shares climbed P0.05, or 1.69 percent, to close at P3.00 each on Wednesday.
