Ayala Land Inc. is increasing its capital spending for the year by 17.4 percent at P85 billion compared to last year’s actual spending of P72.4 billion.
The company reported a 52 percent increase in profit at P18.62 billion, 52 percent higher than 2021’s 12.23 billion. Revenues reached P126.56 billion, up 19 percent from P106.14 billion.
Of this year’s capital expenditures, Ayala Land said 39 percent will go to its residential ventures, 23 percent for land acquisition, 16 percent for estate development, 8 percent for malls, 4 percent for offices, 3 percent for hotels and resorts, and the rest for other spendings.
The company is looking to launch P110 billion residential projects, 45 percent of which will be located in Southern Luzon and 40 percent will be in Metro Manila. The company’s upscale brand Ayala Land Premier will form the bulk of the launches at 36 percent, followed by the upper-middle market brand Alveo Land Corp. at 28 percent. Affordable brands Avida Land and Amaia corner 17 percent each of the planned launches while the socialized housing brand Bellavita will comprise the remaining 2 percent.
About 45 percent of the projects to be launched will be vertical developments while 42 percent will be horizontal.
Ayala Land said reservation sales hit P104.9 billion, up 14 percent.
Fourth-quarter sales reached P27.6 billion, up 24 percent.
“Sales from local Filipinos comprised 66 percent of the total, complemented by overseas Filipinos and other nationalities, with a 22 percent and 13 percent share, respectively. Sales from overseas Filipinos and other nationalities surged by 59 percent and 39 percent, respectively,” the company said.
Ayala Land closed the year with a net gearing ratio at 0.76:1. About 97 percent of its debts are contracted into long-term tenors, 90 percent locked in fixed rates and has an average maturity of 5.3 years.
“We are encouraged by our solid performance in 2022, driven by the full reopening of the Philippine economy and the support of our customers. All major business lines achieved meaningful recovery, a testament to our employees’ hard work and dedication,” said Bernard Vincent Dy, Ayala Land president.
“Despite ongoing challenges in the operating environment, we remain positive in our outlook for 2023, and look forward to introducing new offerings that will meet the evolving needs of the market. Our focus on customer satisfaction, operational excellence, and innovation will continue to guide our efforts as we pursue sustained growth,” he added.
