ALI income drops as revenue weakens

MANILA, Philippines — Property giant Ayala Land Inc. (ALI) saw its earnings drop in the first nine months as prevailing headwinds dampened revenues.

ALI’s net income from January to September reached P17.5 billion, down by 18.2 percent from the P21.4 billion recorded in the same period last year.

Revenues slipped by 10.3 percent to P109.2 billion from last year’s P121.8 billion.

In the third quarter, the company achieved revenues of P34.2 billion and net income of P6 billion, holding steady quarter-on-quarter.

“Despite headwinds, Ayala Land achieved steady income in the third quarter of 2026. Our continuous goal is to build a more resilient ALI with more diversified revenue streams, focusing on our recurring income base,” ALI president and CEO Anna Ma. Margarita Bautista-Dy said.

Bautista-Dy said ALI remains committed to executing its strategies of further growing the company’s leasing business, staying disciplined in the residential segment as well as strengthening the balance sheet while sustaining returns.

Revenues from the property development business during the nine-month period reached P57.6 billion.

Total sales reservations stood at P77.7 billion, equivalent to monthly sales of P8.6 billion, buoyed by steady third quarter contributions from premium residential as well as commercial and industrial lot offerings.

ALI said horizontal residential developments it launched, such as the sequel phases of Sereneo in Nuvali and South Palm Grove in Lipa, Batangas, received good interest from buyers.

ALI’s leasing and hospitality businesses, meanwhile, delivered topline growth of eight percent to P37.8 billion, driven by better portfolio-wide occupancies and operations.

The company said earnings before interest, taxes, depreciation and amortization (EBITDA) from recurring income businesses now account for 55 percent of total EBITDA, up from 44 percent last year.

Higher merchant sales and stronger contributions from reinvented flagship malls drove shopping center revenues up 10 percent year-on-year to P18.2 billion, excluding one-offs from asset sales in 2025.

Hospitality revenues climbed by 20 percent to P8.9 billion, fueled by operational gains from renovated hotels and resorts, while offices contributed P9.4 billion in revenues as it maintained better-than-industry vacancy.

ALI’s growing portfolio of dry warehouses and cold storage facilities generated revenues of P1.3 billion, up by 12 percent year-on-year, on the back of higher portfolio occupancy.