{"id":18761,"date":"2024-05-15T03:06:53","date_gmt":"2024-05-15T03:06:53","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/ayala-corp-q1-income-hits-p13b-driven-by-banking-property-gains\/"},"modified":"2024-05-15T03:06:53","modified_gmt":"2024-05-15T03:06:53","slug":"ayala-corp-q1-income-hits-p13b-driven-by-banking-property-gains","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/ayala-corp-q1-income-hits-p13b-driven-by-banking-property-gains\/","title":{"rendered":"Ayala Corp. Q1 income hits P13B, driven by banking, property gains"},"content":{"rendered":"
\n

AYALA Corp. (AC) on Tuesday reported a 28% increase in its first-quarter (q1) attributable net income to P13.07 billion, driven by strong performances in its banking and property segments.<\/p>\n

First-quarter core net income, which excludes one-off items, improved by 26% to P11.8 billion, AC said in a statement to the stock exchange on Tuesday.<\/p>\n

The conglomerate saw a 10.5% jump in its first-quarter consolidated revenue to P87.27 billion from P78.97 billion in 2023.<\/p>\n

Total costs and expenses climbed by 15% to P67.66 billion during the period compared with P59 billion last year.<\/p>\n

AC attributed its first-quarter performance to the growth of core businesses such as the Bank of the Philippines Islands (BPI), Ayala Land, Inc. (ALI), and ACEN Corp.<\/span><\/p>\n

\u201cWe are seeing growth momentum across most of our businesses. This speaks to the resilience of the economy and our ability to provide products and services that are valued by customers,\u201d Ayala President and Chief Executive Officer Cezar P. Consing said.<\/span><\/p>\n

For the banking segment, BPI posted a record-high quarter net income of P15.3 billion for the first three months, up by 26% from last year, as total revenue increased by 25% to P39.5 billion.<\/p>\n

Loans grew by 18.7% to P2 trillion, while total deposits increased by 13% to P2.4 trillion. Fee income grew by 27% to P8 billion on the growth of businesses such as cards, wealth management, and Insurance.<\/p>\n

Operating expenses rose by 20% to P18 billion due to higher spend on manpower, technology, and marketing.<\/p>\n

On the property business, ALI recorded a 39% increase in its first-quarter net income to P6.3 billion as property development revenues went up by 47% to P25 billion on higher bookings across all residential segments as well as commercial and industrial lot sales.<\/span><\/p>\n

ALI\u2019s reservation sales climbed by 20% to P33.3 billion carried by sales from AyalaLand Premier\u2019s Park Villas in Makati, The Courtyards Phase 3 in Vermosa, and Alveo\u2019s Park East Place in Bonifacio Global City.<\/span><\/p>\n

Leasing and hospitality revenues surged by 8% to P10.9 billion led by improved mall occupancy and increased mall, office, and hotel rental rates.<\/p>\n

For the energy business, ACEN posted a 34% jump in its first- quarter consolidated net income to P2.7 billion mainly from the ramp up of new operating capacity as well as the P389 million in cash value realization earnings proceeds from the partial sale to Acciona Energia of ACEN\u2019s loan to The Blue Circle\u2019s Mui Ne Wind project in Vietnam.<\/span><\/p>\n

\u00a0Total renewable attributable output was up by 49% to 1,580 gigawatt-hours while statutory revenues, increased 8% to P9.9 billion.<\/span><\/p>\n

On the telecommunications business, Globe Telecom, Inc. saw its attributable net income fall by 6.07% to P6.81 billion despite posting higher revenues for the period.\u00a0<\/span><\/p>\n

\u201cThis was mainly attributed to higher depreciation expenses and non-operating charges, as opposed to non-operating income in the same period last year,\u201d Globe said in a regulatory filing.<\/p>\n

Globe\u2019s gross revenue for the period increased slightly to P45.31 billion, 0.6% higher than the P45.03 billion reported in the January to March period last year.<\/p>\n

Excluding one-time gains from the company\u2019s tower sale, normalized net income reached P5.8 billion, 13% higher year on year, Globe said without disclosing a comparative figure.\u00a0<\/span><\/p>\n

Meanwhile, the conglomerate\u2019s healthcare unit, Ayala Healthcare Holdings, Inc. (AC Health), logged a 14% increase in revenue to P2.2 billion during the period.<\/span><\/p>\n

Earnings before interest, taxes, depreciation, and amortization, excluding ramp-up costs for its new cancer hospital in Taguig and Konsulta MD healthcare app, rose by 36% to P127 million.<\/p>\n

AC Industrials trimmed its net loss to P931 million in the first quarter from P980 million last year.<\/span><\/p>\n

\u201cOf the total losses, P670 million came from an impairment provision for Via optronics. Excluding provisions, normalized losses were at P243 million from P270 million due to the absence of MTC-Con\u2019s P154 million loss in the same period of last year and lower losses from Merlin Solar,\u201d the conglomerate said.<\/p>\n

Integrated Micro-Electronics, Inc. saw a wider net loss to $3.7 million as its industrial customers continued to see softness in their end-consumer markets.<\/p>\n

On Tuesday, AC shares rose by 1.80% or P10.50 to P593.50 per share. \u2014 Revin Mikhael D. Ochave<\/b> and<\/i> Ashley Erika O. Jose<\/b><\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

AYALA Corp. (AC) on Tuesday reported a 28% increase in its first-quarter (q1) attributable net income to P13.07 billion, driven by strong performances in its banking and property segments. First-quarter core net income, which excludes one-off items, improved by 26% to P11.8 billion, AC said in a statement to the stock exchange on Tuesday. The [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[1007,14251,14644,14133,17893,1798,2001,7672,17894,8742],"class_list":["post-18761","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-ayala","tag-banking","tag-bworldonline","tag-corp","tag-driven","tag-gains","tag-hits","tag-income","tag-p13b","tag-property"],"yoast_head":"\nAyala Corp. 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