• By The Financial District

ALLHC Bares 19% Increase In 1Q2022 Net Income, 29% Expansion Of Warehouse Leasable Area

AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land Inc. (ALI) subsidiary, posted consolidated revenue of P864 million and a net income of P197 million in the first quarter of 2022.

Photo Insert: Cold storage ended the quarter with P28 million in revenues.

The industrial lot sales reached P316 million, down by 18% versus last year due to unbooked reserved lots expected to be recognized by the second quarter. Warehouse leasing revenues rose by 54% to P191 million from P123 million given improved occupancy and increased leased areas.

Cold storage ended the quarter with P28 million in revenues. Commercial leasing is gradually recovering with retail stores reopening and an increase in total customer foot traffic by 32% versus the same period last year.

The company closed the first quarter of the year with a strong balance sheet with a net gearing of 0.63:1.

In line with its commitment to building a national footprint, ALLHC continues to expand in key areas across the country. In February 2022, ALLHC acquired an existing ready-built facility in Sto. Tomas, Batangas, adding 64,000 sqm of leasable warehouse space to the ALogis portfolio.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

With this acquisition, ALLHC presently has 288,000 sqm warehouse gross leasable area (GLA) across 6 locations, 58% of our target of 500,000 sqm GLA by 2025.

ALLHC will diversify its product line further with additional cold storage facilities and other business platforms. ALLHC is on track to double its cold storage capacity to 15,000 pallet positions by the year 2023.

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

"Our growth plans are geared to enable ALLHC to seize opportunities in the new economy. With the competitive advantage from our solid portfolio of diversified product offerings, and our optimistic view on the economy's reopening, we look forward to enhancing our business performance in 2022," said ALLHC outgoing President and CEO Maria Rowena M. Tomeldan.

"We will further strengthen ALLHC's position for the long term."

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