MANILA, Philippines - Listed property developer Ayala Land Inc. on Wednesday reported a record P7.14 billion in net income in 2011, a 31% jump from P5.46 billion in 2010.
Ayala Land president Antonino T. Aquino attributed the company's performance to strong revenue growth and margin improvements in its key businesses. He added Ayala Land is confident it can sustain its growth momentum in 2012.
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| Image Credit: mycondophilippines.com |
"We were successful in launching a record number of projects last year, 67 in all, and we plan to launch about the same number of projects this year but 29% higher in value and 20% more in the number of units. We remain well positioned to pursue our growth moving forward and achieving the goals we set out to do under our 5-10-15 plan," Aquino said, in a statement.
Ayala Land's consolidated revenues hit P44.21 billion, 17% higher year-on-year. The bulk came from real estate and hotels' revenues, which rose by 16% to P41.23 billion.
Ayala Land chief finance officer Jaime E. Ysmael said the company spent a record high P30 billion for project and capital expenditures in 2011.
"This is 49% more than the previous year; most went to residential development and some in land acquisition. For 2012, we have earmarked another P37 billion for capital expenditures largely for the completion of ongoing developments, new residential and leasing project launches, and new landbank acquisitions which will help sustain the company’s growth trajectory over the coming years," Ysmael said.
Ayala Land reported revenues from property development P25.26 billion in 2011, a 27% increase from P19.85 billion in 2010. The revenues were driven by higher bookings of its residential units and commercial and industrial lots.
Ayala Land Premier saw P9.51 billion in revenues, on the back of 35% growth in bookings and construction progress in Park Terraces 1 and 2 in Makati City, and Santierra and Elaro in NUVALI.
Alveo and Avida also posted year-on-year revenue growth of 15% and 44% to P5.83 and P6.06 billion. New projects Sedona Parc (Cebu) and Venare (NUVALI) for Alveo, and Avida Towers Centera 1 and 2 (Mandaluyong City) and the second tower of Avida Towers Cebu have shown steady sales.
Another new brand Amaia generated P841 million for 211, as the full-impact of its maiden project AmaiaScapes Laguna was felt.
Ayala Land said its sales take-up value hit P51.72 billion in 2011, or an average monthly sales take-up of P4.31 billion.
In 2011, the company's brands ALP, Alveo, Avida, Amaia and Bella Vita launched a total of 20,613.
This year, Ayala Land sees continued demand for residential projects and will launch some 24,800 units across all of its residential brands.
At the same time, the company's revenues from the sale of commercial and industrial lots grew by 2% in 2011 to P1.27 billion.
Revenues from commercial leasing grew by 16% to P7.46 billion last year, while revenues from shopping centers rose by 14% to P4.96 billion.
Office leasing operations revenues jumped 19% to P2.5 billion, as it leased more space for business process outsourcing offices.
Hotels and resorts business improved by 18% to P2.24 billion in 2011, as it consolidated its El Nido Resorts operations in Palawan.
Ayala Land is currently constructing 4 owner-operated business hotels under its own Kukun brand in Bonifacio Global City, Cagayan de Oro, Davao, and NUVALI. The first two hotels are expected to begin operations this year.
source: ABS-CBN News
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