Robinsons Land Corp., the property arm of the Gokongwei Group, saw nine-month net income rise 13 percent year-on-year to P10.01 billion on the back of growth across its real estate portfolio.
In the third quarter alone, Robinsons Land net income stood at P2.76 billion.
Consolidated revenue for the period was up 4 percent to P31.42 billion, with earnings before interest, taxes, depreciation and amortization up 7 percent to P17.79 billion.
Robinsons Land said its investment portfolio, consisting of malls, offices, hotels, and warehouses, has been a key contributor to earnings growth. Robinsons Malls, for example, saw a 12 percent increase in revenues to P13.16 billion, driven by higher rental income, increased occupancy, and strong tenant sales. Robinsons Hotels and Resorts reported a 33 percent surge in revenues, driven by both domestic and international brands.
Its development portfolio, including residential and land sales, generated P7.37 billion in realized revenues for the same period. The company’s financial position remains strong, with cash and cash equivalents totaling P7.40 billion and a net gearing ratio of 31.76 percent. Shareholders’ equity stands at P157 billion, reflecting stable growth and financial health.
“Our earnings for the first nine months show the strength and diversity of our business,” said Robinsons Land chairman and chief executive officer Lance Gokongwei. “We are optimistic about the continued growth of RLC, with our resilient business segments providing a solid foundation for the future,” he added.
Robinsons Logistics and Industrial Facilities also saw revenues rise 36 percent to P649 million, driven by growing demand for industrial spaces.
