Ayala Land Inc. (ALI) reported a 15 percent increase in 2024 net profit and said it continues to seek to boost its finances at a rate two times faster than the gross domestic product (GDP) growth this year by investing P95 billion.
Ayala Land said on Thursday it closed 2024 with a P28.23 billion net income, or that attributable to equity holders, up 15 percent from P24.51 billion in 2023.
Consolidated revenues grew 21 percent to P180.74 billion from P148.86 billion in the comparable year-earlier period.
“We ended the year (2024) on a solid footing, with all our business lines executing on their growth strategies,” ALI Chief Executive Officer Anna Ma. Margarita Bautista-Dy said.
As much as 37 percent of this year’s capital expenditures will fund ALI’s residential development business, while 25 percent will go to estate development and 23 percent to leasing and hospitality ventures, Dy said.
The plan is to launch P100 billion worth of developments this year, with P80 billion going into residential projects and P20 billion into commercial and industrial lots, Dy said in a press briefing on Thursday.
“We aim to achieve two times GDP growth in our bottom line. We look forward to the year and believe we are well positioned for what lies ahead,” she said.
Government economic managers placed this year’s GDP growth range between 6.5 and 7.5 percent this year.
ALI’s capex will be funded partly by the company’s planned P75 billion bond sale, or a bilateral loan agreement this year, Augusto Bengzon, Ayala Land chief finance officer, said.
