Ayala Corp. said profit last year reached P35.28 billion, up 10.87 percent from P31.82 billion in 2018.
Revenues amounted to P295.26 billion, up 4.03 percent from P283.8 billion the previous year.
“The events of the past year have challenged the stability of our corporate momentum over the last decade. However, Ayala has proven its resilience across multiple business cycles over the 186 years that we have been in operation. This ability to deal with adversity has been built on our fundamental strengths of adhering to the highest standards of corporate governance, always looking to develop value over the long term, remaining flexible to adjust to changing circumstances and constantly aligning our business objectives with the broader development needs of the country. These fundamental values have stood us in good stead through the years, have defined Ayala as a successful multi business group and ensured its continuity and relevance throughout the years,” said Jaime Augusto Zobel de Ayala, Ayala chairman.
“Notwithstanding the challenges faced by our water and global manufacturing businesses in the past year, our real estate, banking, telco, and power units continue to serve as engines of growth. This validates the strength of a diversified portfolio and the expansion strategy we put in place a decade ago,” added Fernando Zobel de Ayala, Ayala president.
Ayala Land Inc. posted profit of P33.2 billion, up 13 percent on revenues reached of P168.79 billion.
Bank of the Philippine Islands posted P28.8 billion in profit, up 25 percent on “solid core income, higher securities trading gains, and steadily growing fee-based businesses.” Revenues hit P94.3 billion, up 20 percent.
Globe Telecom Inc.’s profit grew 20 percent to P22.3 billion, on total service of P149 billion.
AC Energy registered a profit of P24.6 billion, lifted by contribution from its solar projects in Vietnam, recovery of costs incurred from adjustments in the construction and operations of its power plants, and gains from the partial divestment of its thermal assets.
Manila Water Co. Inc. reported profit of P5.5 billion, down 16 percent as the water supply shortage in March 2019 severely impacted the East Zone concession while some cost-side challenges also weighed down on profitability.
AC Industrials registered a P2.4 billion net loss as “headwinds in both the electronics manufacturing services and the global auto industries hampered earnings across its several business lines.”
