Ayala Corp. recorded a 39-percent increase in profit last year to P38.07 billion from P27.4 billion the prior year.
Revenues hit P341.9 billion, up 11.5 percent from P306.64 billion.
The conglomerate said core profit, which excludes one-off items, amounted to P41 billion, up 48 percent.
“The strong performances of BPI (Bank of the Philippine Islands), Ayala Land Inc., and AC Energy anchored the company’s results. Core net income was 32 percent higher than 2019, which was when the previous high water mark was established,” it said.
BPI reported profit of P51.7 billion, up 44 percent due to strong loan growth, higher margins, and lower provisions. Ayala Land posted profit of P24.5 billion, up 32 percent as its property development and commercial leasing businesses continued to deliver strong results.
ACEN’s income from operating units hit P4.9 billion, up 290 percent on the back of new operating capacity and a strengthened net seller position. Inclusive of one-offs however, ACEN’s bottomline droped
to P7.4 billion from P13.1 billion mainly due to the re-measurement gain from the acquisition of the Australia platform in 2022.
AC Energy & Infrastructure posted a 71 percent increase in profit to P9.5 billion out of improved operating earnings from ACEN and higher contributions from GN Power Dinginin.
Globe Telecom Inc. posted a 29 percent drop in profit to P24.6 billion mainly due to the one-time gain from the partial sale of its data center business in 2022.
AC Industrials educed its profit to P1.2 billion from P1.7 billion on the back of better results from Integrated Microelectronics Inc.’s core operations and AC Motor’s four-wheel business.
IMI saw higher earnings from its core business as margins improved and component shortages eased.
