AGI earnings rise in Q1 on resilient businesses

MANILA, Philippines —   Conglomerate Alliance Global Group Inc. (AGI) of tycoon Andrew Tan booked higher earnings in the first quarter  as its businesses remained resilient amid a challenging environment.

AGI’s net income attributable to owners amounted to P5.2 billion during the quarter, up by five percent year-on-year.

The group’s net income grew by six percent to P7.8 billion from the normalized profit of P7.4 billion a year ago.

AGI said the comparison accounts for the deconsolidation of Golden Arches Development Corp. in March 2025 and excludes one-time gains of P3.4 billion.

Revenues inched up by one percent year-on-year to P42.2 billion, driven by growth in residential, leasing, hospitality and spirits.

AGI president and chief executive officer Kevin Tan described the group’s first-quarter results as “an optimistic start,” reflecting healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business and the nascent recovery in spirits sales.

Tan said its businesses continued to perform well even against a demanding macroeconomic and geopolitical environment.

Premier township developer Megaworld contributed the largest share of revenue and profit to the group in the first quarter, with attributable net income improving by four percent to P5.3 billion and revenue increasing by three percent to P21.6 billion.

Emperador also posted a four percent year-on-year growth in attributable profit to P1.9 billion, supported by a favorable product mix and continued cost management efforts.

Its revenues improved to P13.4 billion, driven by higher brandy and whisky sales.

Meanwhile, intensified cost management efforts supported EBITDA of Travellers International, which reached P1.7 billion during the first quarter.

Travellers International, AGI’s leisure and tourism arm and the owner of Newport World Resorts (NWR), recorded net revenues of P7 billion, with gross revenues reaching P8.6 billion.

Gross gaming revenue stood at P6.6 billion, as the resilient mass segment cushioned the impact of overall weakness in VIP gaming, while non-gaming revenues expanded by 10 percent to P2 billion, fueled by higher average hotel rates and improved retail spending within the NWR complex.

“Our first quarter performance is supported by ongoing cost discipline, embedded in our operations. This allowed our group to gain operating leverage, while we continue to implement our aggressive business strategies,” Tan said.