Ayala posts P35.32B Q3 net income

AYALA Corp. reported that its net income at the end of the third quarter was P35.32 billion, up 47 percent from P23.99 billion in 2021.

The company also posted revenues of P216.20 billion for the same period, an increase of 19 percent from P182.50 billion recorded last year.

The increase in net income was the result of improved performance from its subsidiaries as business operations returned to normal with the easing of pandemic restrictions. Ayala Land, Bank of the Philippine Islands (BPI) and Globe registered higher operating results for the period covered.

Ayala Land posted total revenues of P86.3 billion and a net income of P13.3 billion in the first nine months of 2022, a year-on-year growth of 19 percent and 55 percent, respectively. Property development revenues increased 7 percent year on year to P55.2 billion.

BPI’s net income reached P30.5 billion in the first three quarters of 2022, growing 75 percent year on year on the back of higher revenues and lower loss, and reserve provisioning. Total revenues for the same period grew 22 percent year on year to P87.5 billion.

Globe recorded a net income of P26.5 billion in the first nine months of 2022, up 48 percent year on year from higher revenues from data services, improving contributions from its digital solutions platform and gains from the partial sales of its data center business and tower assets. Revenues for the first three quarters of 2022 also went up by 3 percent from P126.36 billion in 2021 to P130.20 billion in 2022.

ACEN’s net income reached P4.1 billion in the first nine months of 2022, decreasing 4 percent year on year. However, consolidated revenues grew 34 percent year on year to P25.2 billion, mainly driven by new operating power plants.