Robinsons Land nets P8.84 billion in 9 months

MANILA, Philippines — Robinsons Land Corp. (RLC), the property developer of the Gokongwei Group, reported a net income of P8.84 billion from January to September, up 31 percent from a year ago. 

In the third quarter alone, net income increased by 49 percent year-on-year to P3.06 billion.

“We are delighted with the outstanding performance across our diversified portfolio of businesses. These results reflect our commitment to provide timely execution in pursuit of excellence, implement strategic initiatives, and unwavering dedication to providing quality and value to our stakeholders,” said RLC president and CEO Frederick Go.

The company raked in consolidated revenues of P30.21 billion, during the nine-month period while EBITDA and EBIT stood at P16.66 billion and P12.65 billion, respectively. 

Higher revenues and lower expenses contributed to higher operating margins during the period, the company said in a regulatory filing. 

EBITDA came in at 55 percent and EBIT at 42 percent. 

Of the different business segments, 70 percent of RLC’s revenues were contributed by the investment portfolio, amounting to P21.04 billion, with 78 percent of overall EBITDA (P12.92 billion) and 71 percent of consolidated operating income, driven by the remarkable growth from malls and hotels businesses. 

RLC’s development portfolio contributed revenues and EBITDA amounting to P9.17 billion and P3.74 billion, respectively.

The company has three destination, estates, Bridgetowne, Sierra Valley and Montclair, which have boosted the net sales takeup of RLC Residences and Robinsons Home.

In the same period, RLC Residences launched four new projects: Le Pont Residences in Bridgetowne, Sierra Valley Gardens’ Building 4 in Cainta Rizal, Mantawi Residences’ Tower 1 in Mandaue City, and Woodsville Crest Olive Building in Merville Paranaque. Robinsons Homes also introduced Springdale in San Isidro, Batangas. 

Moving forward, the company will continue to look for property to acquire as well as joint venture opportunities. It has over 800 hectares of land nationwide.