DoubleDragon Discloses P469.26M 1Q 2022 Net Income
DoubleDragon Corporation (the “Company” or “DoubleDragon”) reports Consolidated Net Income +5.7% to ₱469.26 Million for the quarter ending March 31, 2022, as compared to the same period the prior year.
Photo Insert: The DoubleDragon Plaza
Consolidated EBITDA +8.7% to ₱1.05 Billion for the quarter ending March 31, 2022 as compared to the same period the prior year. Consolidated Revenues +13.0% to ₱1.71 Billion for the quarter ending March 31, 2022, as compared to the same period the prior year.
Total Assets +0.9% in the first three months of the year to ₱142.87 Billion as of March 31, 2022. Total Equity +0.2% in the first three months of the year to ₱69.46 Billion as of March 31, 2022.
DoubleDragon’s net Debt-to-Equity ratio stood at a low 0.60x as of March 31, 2022. The Company’s unutilized Debt Capacity stood at ₱111.35 Billion as of March 31, 2022.
“We are pleased to have surpassed our 2022 goal of 1.2 million square meters GFA of completed recurring income portfolio. The whole cycle coming from zero leasable space, when DoubleDragon listed in the Philippine Stock Exchange last April 2014, to over 120 hectares of fully constructed recurring income portfolio today was not a walk in the park, and we are grateful for the support of all our stakeholders in the past 7.5 years that enable our team to make that happen," said DoubleDragon Chairman Edgar “Injap” Sia II.
"We see these 1.2 million completed square meters to like having 1.2 million of real estate seeds planted in prime strategic areas spread out accross the country. These string of prime hard assets should mature and generate recurring revenues at different times, but we expect all of them to reach optimal recurring revenue generation before 2025, and to endlessly contribute sizeable recurring revenue cashflow to DoubleDragon," he added.